How Companies Protect Consumer Information

The cost of cybercrime to a business can be high, and it’s only grown in the last couple of years. In fact, the out-of-pocket expense of security breaches is up almost 30%. In a recent report done by the National Cyber Security Alliance Customer Privacy Index, it was found that more people in America are worried about their data privacy than they are about losing their job.

 With this being such an essential thing to a lot of Americans, here are three ways you can protect your customer’s information.

3 Ways Businesses Can Protect Customer Information

  1. Limit access to sensitive information.  Not everyone in your business needs to have access to all of the customer information. Ultimately, the fewer people who have access, the more secure the data is. Make sure only the most necessary people have access to your client’s private information to reduce opportunities for hackers to find weak points in your security.
  2. Maintain updated encryption technology. What data you do keep on your clients needs to be encrypted properly. The thing is, if you don’t keep up with your encryption technology, then you are leaving your information vulnerable to attacks. It’s best to check your encryption technology regularly to make sure it is up to date. If you’re overwhelmed by this process, then you outsource this work to an IT Management company to ensure the job is done properly.
  3. Destroy data once you’re finished with it. The usual company policy is to keep the customer’s data and make use of it to improve your business. However, for added transparency and increase privacy measures, you could consider getting rid of the customer’s data entirely. This will give your customers peace of mind when it comes to how many businesses have information about them.

Keeping customer information secure is one of the most crucial tasks of any business. Customers need to feel confident that the company they are sharing information with can keep their data private, so it’s important to limit the access of sensitive information, keep up with encryption technology, and consider destroying sensitive data once your company is done with it.