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How Enterprises Can Better Manage Fraud and Breach

Enterprise Security Magazine Europe | Friday, September 04, 2020

There is no elimination of the possibility of breaches or fraud, but with the right security practices, enterprises can minimize the damage if one occurs.

FREMONT, CA: The occurrences of enterprise data breaches has grown exponentially. However, some businesses still fail to pay attention to it. There are several ways firms can prevent breaches. But, businesses also fail to implement data breach protection protocols because of budget constraints and a lack of tech expertise. Data breaches and fraud are challenges for businesses of every size, affecting over 25% of businesses with an average fraud loss of 38,000 dollars. That is enough to push businesses into bankruptcy. But there are several ways to mitigate threats to organizations. Here is it defined.

Developing a Breach Prevention Plan

Best practices to eliminate a data breach starts with planning. Firms have to get organized and map out what they want to achieve and how they are going to do it. The breach prevention plan can also be something the firm refers back to whenever it is dealing with potential breach issues. However, it’s vital to note that it can’t be a static breach solution but highly adaptable to help tackle continuously evolving threats.

Improving Awareness of Security Risks

There is no single thing as a breach prevention solution, so business owners should make a conscious effort to improve awareness across the enterprise of both security threats and security prevention techniques. In today’s business environment, no business can afford to have profited over enterprise security.  So it will be essential to ensure that employees are aware of the types of security breaches and the ways to manage them.

Encrypting Sensitive Data

There are several ways of preventing security breaches using technologies. Companies of all sizes can encrypt sensitive, personally identifiable information, and mitigate risk to a large extend. Encryption can also be the savior in the event of a security incident because any encrypted data stolen by a hacker will be rendered meaningless.

See also: Top Enterprise Security Companies

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