Why data loss prevention needs to top the agenda

Investing in data loss prevention is no longer an option ; it ’ s a necessity . Recent shifts in requirements revealed a significant escalation in the challenges SMEs must confront . Yet , some common misconceptions persist : the belief that they are not a target ; that their data lacks value to cybercriminals ; that they don ’ t possess much data ; that existing protections are sufficient .

CYBERCRIMINALS ARE OFTEN

MOTIVATED BY FINANCIAL GAIN ,

LEADING THEM TO EXPLOIT

VULNERABILITIES IN SMES ’ DATA MANAGEMENT .

Based on what we ’ ve been seeing recently , and discussion with industry peers , we estimate that SMEs are just 20 % along the path to reaching the same level of resilience as enterprise-level organisations . The reasons behind this lag are multifaceted , encompassing a complex blend of regulatory expectations , cyberinsurance requirements and supply chain pressures .

Up until 2022 , there was a prevailing sentiment that SMEs had sufficiently met the cybersecurity expectations laid down by various stakeholders , including clients , government and industry regulators and insurance providers . However , the landscape dramatically shifted towards the end of 2022 and into 2023 , with a notable escalation in these requirements . Despite the increasing danger , cyber-resilience seems to have fallen down the priority list for many SMEs . This drop is not only puzzling but alarming .

As we stand on the cusp of an era where cyberthreats are more rampant and insidious , the focus on cyber-resilience must regain its prominence . In light of these escalating demands , we would anticipate seeing a renewed emphasis on cybersecurity in the 2024 Cyber Breaches Survey results .

The precarious position of SMEs in the current cybersecurity landscape underscores the need for a renewed focus on data loss prevention , its strategic importance and the robust measures required to safeguard businesses against this increasingly common peril .

Such beliefs are not only inaccurate , but perilous . Cybercriminals are often motivated by financial gain , leading them to exploit vulnerabilities in SMEs ’ data management . This could result in ransom demands or the sale of sensitive information on the dark web . Additionally , valuable intellectual property and sensitive business information , although not covered by GDPR , can also be attractive targets .

The financial implications are stark , add to this the potential fines from regulatory bodies for failure to secure information under GDPR guidelines and the picture becomes even graver .

To maintain trust , safeguard reputation and ensure compliance , data loss prevention must be an unequivocal priority .

Strategies for securing data in the hybrid workplace

The hybrid workplace model has introduced new complexities in data security . To navigate these challenges effectively , businesses must consider several key strategies :

User-level protection

With cybercrimes often occurring at the user level , robust cybersecurity training is vital . The weakest point in your defences will often be

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