Data is relatively everywhere, and it’s more shareable now than before, thanks to the Internet. However, you need to protect that data as cyber attackers will always be on the lookout for these pieces of information. Lose sensitive information, and you can put yourself at risk of issues, such as identity theft, lawsuits, and compliance fines.

If you’re still undecided as to whether or not you should shift your security focus to data, here are three reasons you should do so starting today:

The Risk Of Multiple Financial Losses

Protecting valuable data should be one of your top priorities, especially for your business. Remember, it might be relatively easy to recover lost financial assets. However, recovering lost data can be a different and more challenging endeavor. 

One of the best practices for data security is to build an IT infrastructure revolving the premise of protecting your organization’s sensitive information. Without this system, hackers are relatively free to capture your data without firewalls, anti-malware, and other cyberattack protection protocols. 

Moreover, hackers that capture your firm’s financial data can do various illicit activities with the information. For example, these cyber attackers may withdraw money from your company’s assets continuously. A worse scenario is that you wake up one morning, only to find out every penny in your business is now in criminals’ hands because of an unknown wire transfer. 

Prevent this incident from happening by building a data security infrastructure with strong anti-cybercrime protocols. If you don’t, those hackers can withdraw money from your business, even after stealing from you before. 

Ensure that your data security infrastructure has the software and hardware to prevent attacks, like the Maze Ransomware Attack Note or Maze for short. The Maze ransomware will display your enterprise’s sensitive information for the world to see. Always be vigilant as some hacking groups already sent this malicious program to known brands, including Cognizant and Xerox.  

The Risks Of Non-Compliance And Lawsuits

In 2013, Target, a known retail brand in the US, had to pay USD$18.5 million in fines for a data breach that affected about 41 million consumers. Hackers stole sensitive information, which may include (but not limited to) customer credit card information and the company’s financial assets.

Several consumers became furious and filed multiple lawsuits against the retail company. The charges included consumers suffering losses from the cyberattack and the non-compliance of providing adequate security systems to protect customer data.

Data theft and other data security risks can stifle businesses as lawsuits can reduce trust and good relationships with their consumers.

Many people didn’t take this event too kindly, and some of the affected customers may decide to continue pressing charges against the famous retail chain. 

Don’t let this event happen to your firm. Start building a data security infrastructure today to protect your business from various information breaches. 

The Risk Of Downgraded Search Rankings

A sturdy data security infrastructure may also help shield your online business’s website from potential downtimes. Keep in mind that search engines, including Google, have algorithms that downgrade search rankings to sites that can’t comply with certain standards. One criterion of judgment is your website’s uptime values.

Note that many cyber attackers want to incite chaos, and they might not find your business’s finances interesting. In other words, these hackers only want to see how your company reacts as they shut down your website. 

As the attack occurs, your company’s online portal becomes inaccessible to visitors, making you lose potential sales conversions. Moreover, search engine algorithms will notice the downtime and downgrade your rank. It’s because search engines will ‘think’ that your company’s website isn’t worth an online user’s time. 

Investing in a secure data infrastructure helps prevent your website from losing search engine rankings. Furthermore, the data security system reduces the risks of financial losses since possible buyers would opt for your online portal instead of the competition. 

Your data security infrastructure should have the necessary protocols to prevent site downtimes. For instance, prepare your website for distributed denial-of-service (DDoS) attacks. This particular cyberattack occurs when your site’s server becomes flooded with fake visitor instances. The server becomes overloaded, reducing or inhibiting access to visitors.

Conclusion

It’s critical to stress the importance of data security for organizations. Investing in a sturdy data security infrastructure helps reduce the risks of multiple financial losses, lawsuits, and downgraded online search rankings. Don’t waste time because hackers won’t waste their time trying to get into your business’s data storage banks. Start building a data security system today, and you can prevent these incidents from happening.