Safeguarding Sensitive Data

We all know anyone can be a target when it comes to cyber criminal activity.  Are you properly safeguarding your assets?

Think about your business.  What sensitive data do you hold of your consumers?  Addresses, bank account information, social security numbers?  What value does this have for hackers?  Let me tell you – a lot.  From a hackers perspective, that is a wealth of information that can then be sold on the dark market.  So first, what are your current threats?  And secondly, what are you doing to safeguard your customers’ data?

There is the threat of internal fraud, which can be mitigated by limiting the number of individuals who have access to the sensitive data.  However, according to Credit Union Times, the external threat will always be greater.  Does your business have third party service providers who also could potentially hack your business?  Think about your external consultant, or a service provider who works on credit card machines.  It may seem unrealistic, but these individuals could be identified as potential threats.

PC Pitstop’s security expert, Dodi Glenn, shared his thoughts on the growing threats in cyber security with Credit Union Times:

“It is not just the hacker living across the globe looking to attack the infrastructure that financial institutions need to worry about, but also the third parties such as those that service IT and ATMs.”

So my challenge to you is to identify who and what your threats are, and if you have any questions on how you can possibly mitigate those risks let us know!

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