3 Types Of Data Loss Prevention For Small Businesses

Of all businesses that experienced cyberattacks that resulted in data loss in 2021, nearly half (42%) were small businesses. There are many types Of data loss prevention for small businesses.

Here are three main ways small businesses can prevent cyberattacks and data loss.

What Is Data Loss Prevention?

Data loss prevention (DLP) involves the technologies, tools, and techniques that organizations apply to prevent these attacks and the loss of sensitive data. Organizations need to protect their data in three instances/levels:

At any given level or instance, the organization’s data is at threat of a data breach, phishing attack, malware, and other cyber attacks. Cyber attacks target small businesses more often than larger companies.

New research shows that 69% of small businesses have expressed concerns about being victims of one or more cyberattacks, including phishing and ransomware. This is why it’s important for small businesses to invest in cybersecurity to prevent these attacks and data loss.

Why Is Data Loss Prevention Important For Small Businesses? 

There are several reasons for preventing the chances of data loss for your small business. You must go through the process that can make things easier and effective for you in all possible manner. You must make things simple from your end.

1. Protecting Sensitive Information 

Small businesses often handle sensitive data, such as customer information, financial records, and sensitive property. DLP solutions help prevent unauthorized access to or the accidental sharing of this sensitive information.

2. Compliance Requirements 

Many industries and companies have strict data policies and privacy regulations that small businesses must comply with. DLP tools can assist in meeting these needs, avoiding costly fines and legal issues.

3. Maintains Customers Trust

Small businesses rely on trust to build and maintain their customer base. Data leaks and loss of sensitive information can erode that trust, leading to reputation damage and customer loss.

4. Creates Financial Impact 

Data loss can have significant financial consequences, including the cost of data recovery, downtime, and potential loss of business. DLP helps to reduce these financial risks.

5. Competitive Advantage 

Demonstrating a commitment to data security can be a competitive advantage. Customers and partners are more likely to work with a business that takes data protection seriously.

6. Intellectual Property Protection 

Small businesses often rely on unique intellectual property for their competitive edge. DLP helps safeguard these assets from being accidentally or intentionally leaked or stolen.

7. Employee Mistakes 

Accidental data loss is common, and employees may share sensitive information through email or cloud services. DLP tools can help prevent such mistakes.

8. Cybersecurity Threats 

Small businesses are not immune to cyber threats like malware, ransomware, and phishing attacks. DLP can help detect and block these threats to prevent data loss.

9. Vendor & Third-party Risk 

Small businesses often work with vendors, suppliers, and third parties who may have access to their data. DLP helps control and monitor the flow of data to these entities, reducing the risk of data breaches through third parties.

10. Data Backup & Recovery 

DLP often includes backup and recovery features, which are essential for small businesses to ensure data is not permanently lost in case of an incident like hardware failure or a cyberattack.

11. Employee Turnover

Small businesses may experience high employee turnover rates. DLP can help ensure that departing employees do not take valuable data with them when they leave the company.

12. Secure Remote Work

With the rise of remote work, small businesses need to protect data access from various locations and devices. DLP can help secure remote work environments.

13. Proactive Detection

DLP solutions can detect anomalies and potential data breaches before they occur, allowing for proactive mitigation rather than reacting to incidents after the fact. Data loss prevention is important for small businesses to protect sensitive data, comply with regulations, maintain trust, and protect against financial losses and cyber threats. Implementing DLP measures can provide peace of mind and contribute to long-term success.

Types of Data Loss Prevention

To prevent cyber-attacks and protect data, there are three key types of data loss prevention (DLP) that small businesses can employ:

• Network DLP
• Endpoint DLP
• Cloud DLP

1. Network Data Loss Prevention

Network DLP involves monitoring and controlling the information and data flow through and within a company’s network. This includes data flow on Wi-Fi, the World Wide Web (WWW), ISP, Bluetooth, email, and others.

You can implement network security policies and use tools like a VPN, an anti-malware, and an anti-phishing tool to prevent data loss through your network. These techniques will encrypt data or Flagg, quarantine, and block suspicious traffic through a network to prevent cyber attacks.

2. Endpoint Data Loss Prevention

As in large companies, small businesses need to protect the devices that employees use to access business apps, tools, and sensitive business data.

Examples of these endpoints are company-provided or personal phones, tablets, laptops, computers (desktops), servers, printers, emails, and access points.

According to recent research, 76% of U.S. staff get inappropriate access to sensitive apps, software, and data. Endpoint protection methods include:

• Passwords
• Antivirus tools
• Two-factor authentication (2FA)
• Level authorization
• Cloud access control
• Data share and copy protection
• Device tracking
• Rename protection
• And more!

3. Cloud Data Loss Prevention

Cloud DLP protects data on the cloud from cyber threats, accidental/unsafe exposure, or malicious staff. This involves protection from ransomware, phishing attacks, unauthorized access, and data leak, loss, or mishandling. Cloud protection methods include:

• Data access rights
• Encrypting sensitive data
• Authorized app access or use
• Use of only authorized browsers to access data

Many cloud DLP tools can identify, categorize, remove, and modify sensitive company data before they’re shared with the cloud environment.

Endnote

Cyber threats and attacks are partly human error and partly negligence. Taking steps to prevent these threats and compounding data loss is important for any business. Protecting your network, endpoints, and cloud against cyber threats like phishing, ransomware, network attacks, and more will prevent data loss and the costs that come with it.

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