Many of today’s business-consumer interactions happen online. This means that companies are collecting a large volume of personal information from their customers. In order to maintain trust with your customer base, you’ll need to have a data protection strategy in place. Here are six ways to protect your consumers’ personal information from internal and external security threats.
1. Use an Encrypted Connection
Every online interaction with your customers should happen using an encrypted connection. This is particularly important for large financial transactions, income verification, or account sign-ups where customers are sharing very personal information. Encryption scrambles the data your consumers transmit through your website so that third parties can’t access it.
To encrypt your website, you’ll need to purchase and install an SSL certificate. Many web hosts offer free and affordable SSL certificates with their hosting plans. Your team should also use an encrypted internet connection while working. There are many virtual private networks (VPNs) and browser extensions that are easy to install and will automatically encrypt your web traffic.
2. Update Security Software Regularly
Firewalls and antivirus software are essential for protecting both customer data and internal operations. These software programs create barriers between your system and the cybercriminals interested in accessing your data. To maximize your security, make sure you’re updating your security software regularly.
Software providers often release updates several times each year. These fix any reported problems and address new security issues. If you fail to update your security software regularly, your customer data will be more vulnerable to outside threats. Schedule time to handle updates throughout the year so you don’t fall behind.
3. Conduct Regular Data Audits
To properly protect your consumer data, you’ll need to have a complete understanding of the type of data you’re collecting. Conducting full data audits on a regular basis will help you better understand what type of consumer information you’re collecting. You can use this information to update your privacy policy and develop a long-term data strategy.
When conducting your data audit, look for ways to minimize the amount of personal information you’re collecting. Ideally, you’ll want to collect the least amount of data possible to minimize risk. You should also make sure that you’re keeping your data organized effectively and clearly communicating your data storage policies to your customers. This transparency not only fosters trust but also ensures compliance with privacy regulations, demonstrating your commitment to respecting their privacy and data security.
4. Work With Compliance Experts
Companies in the United States need to comply with consumer data privacy laws. These laws are in place at both the federal and state level. Regulatory bodies for specific industries, such as health, finance, and education, often have their own data privacy laws as well. Failing to comply with this legislation puts your customers’ personal information at risk. You could also end up facing hefty fines or even legal challenges.
The best way to make sure you’re following these laws is to work with professional compliance experts. You can either hire an in-house compliance team or partner with third-party compliance consultants, depending on your organization’s budget. Compliance professionals understand the nuances of data privacy legislation and stay up-to-date with changes in the law. They will help you develop a data management strategy that prioritizes consumer privacy and safety.
5. Create a Company-Wide Data Policy
Your entire team will need to work together to effectively protect your customers’ information. Create a company-wide data policy specifying who can access customer data as well as when and how they can access it. Ideally, you’ll want to limit the number of people who have access to your customers’ information at any given time. Provide access to employees based on their job tasks, rather than providing blanket access to everyone in your company.
Consistency in operations minimizes the risk of both internal and external privacy threats. It will also help your team identify and solve problems faster if a data breach occurs. Your team members should be trained on data privacy best practices upon hiring. Consider providing ongoing cybersecurity training as well to keep your entire team updated as new threats emerge.
6. Use Secure Passwords
More than 80% of data breaches happen as a result of poor password security. To effectively protect the consumer data you’re storing, make sure you’re using secure passwords. Most cybersecurity experts recommend that passwords should use a combination of at least 12 letters, numbers, and symbols. Password generators are a helpful tool if you’re struggling to create a secure password.
Avoid reusing the same password for multiple accounts. Change your password immediately if you’re notified of a breach. Additionally, consider using two-factor authentication for extra protection. Two-factor authentication sends a one-time code to you via email or text message. You’ll need to enter this code along with your password to log in.
Final Thoughts
Protecting your consumers’ personal information is both ethical and essential for a thriving business. Today’s consumers take cybersecurity seriously and want to make sure that their data is protected at all times. If you don’t protect your consumers’ personal information, it could damage your reputation and result in a loss of business. Alternatively, protecting consumer data shows that your organization is committed to a safe and positive customer experience.