What is Data Loss Prevention? Why is it essential for your business?
What is Data Loss Prevention?
Businesses often handle sensitive information & data such as financial information, customer data, health records, trade secrets, etc., that should never be lost or placed in the wrong hands.
Data Loss Prevention – or DLP – is vital for ensuring unauthorised users do not leak, access, or lose this sensitive data. DLP aims to protect sensitive data and prevent employees from sharing it with unauthorised users.
Why is Data Loss Prevention important?
As previously mentioned, data breaches are extremely costly. The average data breach cost to businesses rose to $4.24 million (£3.39m) in 2021 – with each record lost costing an organisation $161 (£128.80) on average.
IBM describe four major cost centres driving up this loss:
• Lost business: Data breaches lead to system downtime and loss of customer goodwill. Organisations that have mishandled or lost customer data will likely have to find new clients – leading to customer acquisition costs.
• Detection and escalation: include recognising an attack and escalating threats to executives and crisis management.
• Notification: Data subjects and regulators must be notified of a data breach. Communication with affected parties requires time and money.
• Post-breach response: The rebuild from a data breach is a costly and time-consuming endeavour.
An effective data loss prevention solution eliminates these costs. DLP solutions give information security teams the necessary visibility to detect and neutralise data threats.
Since so much damage is caused by employee negligence and inexperience, enforcement of DLP policies is key to ensuring a watertight information security strategy.
The key to doing this with scale is to use an adaptive DLP policy enforcement option – to automatically adjust and create new policies based on new threats and behaviour patterns.
A DLP solution is also crucial for maintaining regulatory compliance – most notably with the strict European GDPR legislation.
Take control of your information security with Data Loss Prevention
In our modern digital landscape, data is key. Now, more than ever, organisations must consider their information security properly. Data Loss Prevention solutions give information security teams & IT staff the power to monitor and detect data breaches.
Want to learn more about how a DLP solution can help your business?
Contact us today to explore how we can help you take control of your information security once and for all.
More information here: https://abcom.co.uk/what-is-data-loss-prevention-why-is-it-essential-for-your-business/