Data is among the most crucial assets of any company. Data breaches and cyber attacks are increasing and make a strong data security strategy even more crucial than ever. A strong data security policy safeguards information against unauthorised access, which could cause catastrophic consequences such as expensive recovery and forensic costs, lost productivity and penalties for compliance, reputational damage, and a permanent loss of trust among customers.

A strong data policy will incorporate best practices, like encryption, to safeguard sensitive data when it is in transit and in storage. It will also include authorization, authentication, user authentication and access management. It also involves monitoring and detecting any potential threats to the security, integrity, and availability of data.

Data security is also an essential element in identifying and classifying data according to its sensitiveness. This allows organizations to prioritize their security efforts accordingly. For instance, data with low sensitivity can be shared with the public, while information with high sensitivity should be restricted to a select group of users to prevent any devastating consequences should it be damaged or destroyed.

Security of data is a major concern for all organizations regardless of their size. This is especially because of the increasing amount of cyberattacks and their sophistication and the regulatory requirements such as the EU’s General Data Protection Regulations (GDPR) and the California Consumer Privacy Acts (CCPA) and Payment Card Industry Data Security Standard. In addition to safeguarding customers from identity theft, strong data security is an essential aspect of meeting legal and compliance requirements for a particular sector or geographical region and is frequently required by local laws, whether state or national.

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