How to Protect Customer Data?

Business organizations have a plethora of options in the current day and age. With the internet and technological boom, a business organization can target without being limited to physical or geographical borders. Who would have thought that would be possible 50 years ago? While business is evolving, they need to implement strict policies to safeguard the interest of their customers and employees. While the internet has brought forth a multitude of opportunities on a silver platter, business needs to be aware of the lurking danger. Behind every successful organization (big or small) there is much malicious intent to bring it down, which can cost a huge in the form of cyber-crime.

While the internet has extended its access to the common man, it has also reached the hand of those who’ve transferred their crime-full ways online. With cyber laws still coming into place, cyber-crime has a major impact on businesses and individuals alike. It interrupts the process of trust between, and organization and its consumers. While it’s hard to prevent cyber-crime, it can be fought by having certain security measures in place. These security measures build trust as there are measures taken to safeguard the data consumers provide to the organization.

Importance of Protecting Consumer Data:

The basis for any business is trust. It needs to be able to build a certain amount of trust between itself and consumers. Apart from being compliant to the law, by investing in security measures that protect consumer data, the business also protects itself from any attack that can potentially make it insolvent. In 2019, the global cost of data breaches was close to 3 million per breach. This shows the impact of being negligent on customer data.

Data protection is about limiting internal and external people from having access to data. Data breaches may hurt a whole set of people or an individual, this will harm not only the business but also the individual whose data is leaked. With more and more people having access to the world wide web, this provides companies a duty to ensure security to customers who trust them.

Data breaches can lead to multiple other problems like identity theft and form-jacking. In the USA, 55% of consumers believe that companies have the primary responsibility to take care of the data they input. There are various measures organizations can invest in to increase the protection of their servers.

How to Go About Protecting Customer Data?

While security measures may sound complicated, certain measures help increase the security surrounding customer data.

#1) Everything in Limited Portions:

The first step that any business can take is by limiting the collection of data. An organization can limit the amount of information they take from consumers and at the same time give limited employees access to such data. The more information gets collected, the bigger a target the business organization paints on itself. At the same time, giving many employees access to such information can invariably get into the wrong hands.

#2) Key to Protection – Encryption:

The best way to protect information is through encryption. There are many ways to get data or information encrypted. The most basic way is by enabling an SSL certificate. When a business organization deals through single or multiple domains, then an SSL certificate helps in encrypting the data inputted, making it hard for hackers to get their hands. You can choose a reliable SSL certificate like Comodo SSL Certificate to secure ongoing data.

3) Good Riddance Data:

Another great method to protect important data is by not having it in the system. While data collection is pivotal to the functioning of many departments in the organization, sometimes by only keep what is needed and get rid of information that is not required, it helps increase data security.

4) Terms and Conditions Apply:

This is always the case. Having policies and procedures in place helps implement security measures. The terms and conditions explicitly explain what is protected, to what extent, what happens in a situation of a breach, etc. Organizations need to make sure that customers are well aware of these terms and conditions. Internally, within the staff, there needs to be stringent data protection measures, policies, and procedures. They need to know the implications of leaking protected data as well.

#5) Comply with the Basic Standard Set by Law:

While data security is a responsibility of an organization, the law also dictates certain basic protection to be set in place. This involves having secure and good quality software, investing in a strong firewall, and more. These cyber-security measures will help keep hackers and other malicious malware at bay. Another way is by customizing the internet used by the organization. Organizations can integrate security measures with their internet connection with the help of their internet provider.

#6) Safe Transaction:

Business at the end of the day needs to earn money to survive. This happens through the financial transaction clients and customers make. Therefore, it is important to implement safety measures that involve a financial transaction. One way of doing this is through a CVV verification or having a third party handle the payment transaction. Another way is by not allowing consumers to save their data on the website. Having security measures with complex encryption algorithms, or investing in a high-level SSL Certificate can do the job!

Conclusion:

Protecting customer data should be a prime responsibility that every organization takes on. Being part of an era where cybersecurity is of utmost importance. It is an equal responsibility shared between the organization as well as the consumers. Investing in security measures will help not only keep data safe but strengthen the rapport between customers and the company.

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