Preventing Data Breaches: Best Practices for Securing PII Information
In today’s digital age, data breaches and cyber-attacks have become increasingly common, causing significant financial losses and reputational damage to organizations. One such recent example is the hack of Medibank’s systems, resulting in a massive cost of $26.2 million AUD (£14.7 million) in cybercrime-related expenses. The attack was caused due to a stolen username and password belonging to a third-party IT service provider, which was used to access the company’s network through a misconfigured firewall that lacked an additional digital security certificate.
Read More about Medibank Data Breach: https://www.itpro.co.uk/security/cyber-attacks/370127/medibank-bleeds-26-million-in-cyber-costs-following-hack
The news of Medibank losing millions in cyber costs due to a hack is a clear reminder of the importance of securing personally identifiable information (PII) data. PII data includes any information that can be used to identify an individual, such as name, social security number, date of birth, and address. This type of data is particularly valuable to hackers as it can be used for identity theft, fraud, and other malicious purposes.
To prevent similar incidents from happening, companies and individuals must take necessary steps to secure their PII data. Here are some ways to do so:
- Implementing Encryption:
Encryption is the process of converting sensitive data into a code that can only be decrypted with a key or password. This is an effective way to protect PII data from being intercepted by hackers. Encryption should be used for both data in transit and data at rest.
- Implementing Multifactor Authentication:
Multifactor authentication is a security process that requires users to provide more than one form of authentication to access sensitive data. This can include a password, a fingerprint scan, or a facial recognition scan. Multifactor authentication reduces the risk of unauthorized access to PII data by adding an extra layer of security to the authentication process.
- Regularly Monitor and Audit Data Access:
Regularly monitoring and auditing data access is critical for detecting any unauthorized access to PII data. This can include monitoring login attempts, tracking changes to data, and reviewing access logs. It’s also important to revoke access to PII data when employees no longer need it.
- Implement Strong Password Policies:
One of the most common ways hackers gain access to PII data is through weak or easily guessable passwords. It’s crucial to implement strong password policies that require a combination of uppercase and lowercase letters, numbers, and symbols. Passwords should also be changed frequently and not reused across different accounts.
How can we help you protect your PII data?
We provide various cryptographic solutions including Hardware security modules, Cloud HSM, Key management solutions, Tokenization, Encryption and Authentication solutions to secure Personally Identifiable Information (PII) data. Our solutions ensure the confidentiality, integrity, and availability of sensitive data through encryption and key management. By using advanced cryptographic algorithms, CryptoBind® data security solutions ensure that data is protected from unauthorized access, tampering, and disclosure. It also provides secure storage and transmission of data, making it ideal for protecting PII data in various industries such as healthcare, finance, and government. With CryptoBind®, organizations can secure their data at rest and in transit, reducing the risk of data breaches and cyber-attacks. This technology is an effective solution for addressing the growing concerns of PII data security and privacy.
Contact us to learn more about our solutions:
Sales@jisasoftech.com
+9619222553
