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Most modern businesses digitally store and transmit the sensitive information of their customers, employees, and other stakeholders. Digital data technology increases the productivity of companies and allows them to serve their customers faster and better. 

Unfortunately, digital information is under constant threat from hackers and cybercriminals worldwide. No matter where your company stores and transmits information, a hacker could steal the data or damage the cloud server storing it if you don’t have the proper safeguards to prevent such attacks. 

The Importance of Data Security

Data security refers to the procedures, processes, and technologies designed to protect digital information wherever it is transmitted, such as a client’s computer, the organizational network, and the cloud servers and storage devices. 

The best data security measures will protect sensitive digital information from disclosure, theft, damage, corruption, or unauthorized access. These security measures must consider the vulnerabilities of physical hardware, software applications, user data accessibility, and organizational policy standards (CFI).

New threats to digital information exist every day. For this reason, companies must frequently update their database security technologies and protocols to better protect data from the latest malware, ransomware, and other security threats circulating on the internet. 

If a company fails to protect its data from cybercriminals and their attacks, it could jeopardize the privacy of its customers, reduce productivity, and damage the overall reputation of the business. That is why you must take data security seriously if you want to protect the productivity and integrity of your business. 

Watch for Data Breaches

A data breach is when an unauthorized person or third party may have accessed, stolen, copied, modified, or retrieved sensitive information from a company’s cloud server, network, or client’s computer (Wikipedia). Some people may also refer to it as a data leak or security breach, but they are the same thing. 

Data breaches can happen to even the most protected and updated security systems. Here are some examples of common data security breaches (Sutcliffe Insurance):

• Weak security credentials are easily susceptible to hackers
• Software application vulnerabilities (e.g., poor configurations, back doors, etc.)
• Malware unintentionally downloaded into the security system
• Too many access permissions granted (increases the risk of hackers gaining unauthorized access to user accounts)
• Stolen login credentials of authorized users
• Failure to update security protocols and configurations
• Physical attacks on security systems (insider threats)
• Lack of data encryption technologies

Major corporations spend millions of dollars on data loss prevention each year but still suffer data security breaches periodically. Here are a few notable examples of famous data security breaches from recent years (Drapkin & Farrelly):

1) T-Mobile Security Breach – May 2023

The famous cellphone service provider, T-Mobile, suffered a cyber attack affecting roughly 800 customers. Based on reporting, unauthorized parties accessed sensitive customer data, including ID cards, PINs, social security numbers, and contact information. It was T-Mobile’s second security breach within one year.

2) Chick-fil-A Security Breach – January 2023

Suspicious activity was suspected on several customer accounts of the popular fast-food chain restaurant Chick-fil-A. The company urged customers to report all suspicious or unusual activity on their accounts, such as strange login activity. Unauthorized third parties may have accessed some customers’ names, phone numbers, email addresses, physical addresses, and stored payment information. 

3) MGM Resorts International – September 2023

A ransomware cyber attack was inflicted upon MGM Resorts International, reducing its operational productivity and costing the company around $80 million in lost revenue in under one week. The hacker may have used the “social engineering” technique to break through the company’s cybersecurity defenses. Combating social engineering requires better employee training and the ability to spot phishing and baiting attempts online. 

The Newest Trends in Data Security

Companies of all industries are eager to search for effective ways to protect their computer systems and cloud data storage servers from the most common types of modern cyberattacks, such as phishing and ransomware. Because of this, new data security methods and protections are trending almost every month. 

Here are the top five newest trends in data security methodology and technology (DeVry University):

1) Machine Learning & Artificial Intelligence

Machine learning is a data security practice utilizing the power of artificial intelligence to locate cyber threats and vulnerabilities in a security system. It is a faster, cheaper, and effective way for companies to safeguard their data without relying entirely on humans. After all, humans are more prone to making mistakes than AI. 

Machine learning is the future of cloud security and data leakage prevention. AI is a more sophisticated form of data security in cloud computing. Although not many companies use machine learning for data loss protection right now, it is only a matter of time before it becomes the new norm in clou data security. 

Of course, there are plenty of data protection services available to assist companies who are ready to implement machine learning protections into their data security systems. We recommend you act sooner rather than later to stay ahead of the attacks before they occur. 

2) Multi-Factor Authentication

Have you noticed how most companies now require their customers and clients to submit at least two or more user credentials to verify their identities before logging into their accounts? This multi-layered login security method is called multi-factor authentication. 

Multi-factor authentication usually applies to personal accounts. Some companies require users to submit multiple credentials to log into their accounts, while others only make it optional. 

For instance, a user may have to submit a username and password as one credential. Then, on the next screen, they may have to submit a temporary six-digit code sent to their cell phone number. This double-layer authentication method helps ensure the account’s true owner is the one logging in. 

3) Firewall as a Service

Firewall as a Service (FWaaS) is a new cloud firewall security service that blocks potential malware and other malicious attacks on a network before they reach a cloud server or computer hardware that stores sensitive information. 

FWaaS is a vast improvement from traditional firewall software because a single computer console can manage the entire network’s security protection. In other words, you can manage the firewall protection of an entire network of computers from one console without having to update the computers separately. 

Why You Need Cloud Backups for Your Business

Do you have cloud backups to protect your business data in case of a malware attack, hardware failure, or other incident that could result in the loss or theft of your data? Without a cloud backup, you will not be able to retrieve lost or stolen data resulting from these incidents.

ProBackup offers professional cloud data security and backup services to businesses of all industries. We can safeguard your company’s sensitive data by saving backup copies of encrypted cloud storage regularly. Then, if a cybercriminal ever attacks your cloud data servers, you can restore the lost data through the backup data copies generated previously. You will never have to worry about losing data to cyberattacks ever again.

References

• DeVry University - 15 cyber security trends expected in 2023. devry.edu. (n.d.). https://www.devry.edu/blog/cyber-security-trends.html 
• Corporate Finance Institute (CFI). Data Security. (2023, November 21). https://corporatefinanceinstitute.com/resources/data-science/data-security/ 
• Farrelly, J. (2023, December 14). High-profile company data breaches 2023. Electric.ai https://www.electric.ai/blog/recent-big-company-data-breaches 
• Kaspersky. (2023, April 19). Top ten cybersecurity trends. usa.kaspersky.com. https://usa.kaspersky.com/resource-center/preemptive-safety/cyber-security-trends 
• Sutcliffe Insurance. (2018, October 8). 8 most common causes of Data Breach. Sutcliffe Insurance. https://www.sutcliffeinsurance.co.uk/news/8-most-common-causes-of-data-breach/ 
• Wikimedia Foundation. (2023, December 11). Data breach. Wikipedia. https://en.wikipedia.org/wiki/Data_breach 
• Drapkin, Aaron. (2023, December 12). Data breaches that have happened in 2023 so far - updated list. Tech.co. https://tech.co/news/data-breaches-updated-list

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Many businesses depend on Software as a Service (SaaS) apps to help operate and manage their organizations. SaaS apps are used to manage internal projects, development cycles, ticketing & customer relationships. Some examples of the most popular SaaS apps for businesses are DocuSign, HubSpot, Jira, monday.com, Slack and Trello. 

Do you know what all these apps have in common? Each transmits and stores sensitive data on cloud servers to provide fast and easy access to commercial users. Because of this, the app companies have an obligation to secure and protect all their stored and transmitted data. Not only is it a moral obligation for app companies to protect their users’ data, but it is also a legal obligation. 

In this blog post we are taking a deeper look on how these SaaS providers project your data, what the main security risks are and how you can mitigate against them. 

How do SaaS apps transmit your data?

SaaS backup and data security are essential for protecting user privacy when businesses send information through a subscription-based software platform. But to understand the potential data security risks of such a platform, you have to understand how SaaS data transmits in the first place. 

Data is transmitted through the following three locations:

• The Cloud Server
• The Network / Internet
• The Client’s Computer

The cloud server (1) hosts the framework of the software application and stores the data of all the application clients. A client will download the software application onto their computer (2) or mobile device to access it. The network (3) is the cyber pathway responsible for transmitting information between the cloud server and the downloaded software application on the client’s computer. 

When the client performs actions and saves content on the application, the updated data gets transmitted through the network and stored on the cloud server. As a result, the client can access their data from any computer or mobile device with the application downloaded on it. All they have to do is log into their SaaS account using their username and password credentials to retrieve the stored data from the cloud.

The Top 3 Data Security Risks to SaaS Apps

Several potential data security risks can occur in any of the three locations of data transmission: the cloud server, the network, and the client’s computer. The risk level depends on how much time and effort a SaaS company has invested in securing its cloud storage system, network, and user application. 

Some SaaS apps are more secure than others. Therefore, you should be aware of the potential SaaS data risks involved so you can look for alternative ways to boost your SaaS data security. 

Here are the top three SaaS data risks below:

1) System Hijacking

Cybercriminals usually target SaaS network computers because they are the least secure and most vulnerable. Since network computers actively transmit sensitive data, it opens up more pathways for cybercriminals to gain entry to the systems. Once that happens, the cybercriminals could hijack user accounts, access sensitive data, and upload viruses, malware, or ransomware to destroy the computer systems. 

2) Poorly Configured SaaS Application

SaaS companies must adequately configure their app and its architecture with the latest security protocols to prevent data security breaches and cyberattacks. Unfortunately, SaaS companies sometimes misconfigured their apps or fail to update the security protocols. This failure leaves SaaS apps extremely susceptible to cyberattacks and unauthorized access to sensitive user information. 

3) Failure to Track and Monitor Unusual Data Access Attempts

Cybercriminals will often prey upon poorly monitored SaaS apps. They may perform several login attempts using various hacking methods to gain unauthorized access to user accounts. If the SaaS app software operators are not actively monitoring for unusual login activity, they will not catch a pending cyberattack before it strikes.

The Top 4 Data Protection Methods for SaaS Apps

The best SaaS app companies use highly effective data protection methods to secure user data and prevent unauthorized access. But if you are not happy with the data protection features of a particular SaaS app, look for third-party data security integrations to improve your company’s data protection when using the app. You will learn about one example as you continue reading. 

Here are the top four data protection methods below:

1) Cloud Backup Data Protection

Some SaaS companies can back up your cloud-stored data in case it gets deleted accidentally or maliciously. A cloud backup creates a saved copy of the currently stored information and puts it in a secure location where it can never be overwritten or altered. It will ensure you can retrieve your data under any circumstances, such as after a ransomware attack, virus, or data-overriding mistake. 

However, not all SaaS apps have cloud backup features for restoring lost data. That is why you may need to use a backup-as-a-service (BaaS) app to safeguard the sensitive data on your SaaS apps to ensure you never lose your data. All you need to do is find a reliable BaaS app that can easily integrate into your SaaS apps. 

Of course we recommend using Pro Backup as your designated backup-as-a-service app. Pro Backup is trusted by many businesses world-wide and allows you to back up data on many popular cloud-based SaaS apps, such as Airtable, Jira, and Trello. It has several easy integration options to back up your precious data flawlessly. 

Pro Backup also features advanced encryption protection (256-bit) to safeguard your backups and make the data retrievable whenever the original data is lost or destroyed. The best part is that all the team members on your SaaS user account can operate Pro Backup under one license. 

2) Data Encryption

Encrypting your backup data is essential, but you must also encrypt the transmitted and stored data. Security breaches usually occur within the network, allowing cybercriminals to view unencrypted or poorly encrypted sensitive information. But if you use a 256-bit encryption key to shield your data from unauthorized access in the network, you can prevent cybercriminals from gaining access to your data. 

Professional SaaS companies will not allow data transmission through FTP or HTTP because they are easily compromised. Instead, they will use more secure data encryption methods like transport data encryption (TDE) or Transport Layer Security (TLS). 

3) User Authentication

Secure data systems use digital key certificates to verify user identities and prevent unauthorized access to their data. Virtually all SaaS companies use key certificates or key vault services to boost user login security and ensure that only authorized people can successfully access their data. These keys may contain a series of encrypted numbers which act as digital signatures for the users. A new encrypted digital key is created each time a user logs into their account. 

4) Monitor All Login Attempts

Backend cloud system monitoring is another critical security task of SaaS companies. They must monitor and record all login attempts to track suspicious activity and potential cyber-criminal wrongdoing. When a SaaS company constantly monitors attempted logins and access to the cloud, they have a better chance of stopping data breaches and implementing more robust data security techniques in the future.

Conclusion

Are you ready to begin protecting your SaaS user data? If so, you should start with probackup.io because it offers professional and reliable cloud backup services at affordable prices. It is the perfect BaaS app for saving, recovering, and retrieving data files without any risk of deleting them.

Data is arguably one of the most valuable assets in the modern marketplace. But it’s usually sensitive, and organizations do their best to prevent unauthorized disclosure of confidential data.

However, data loss still remains a huge concern for businesses because they can spend a fortune on data recovery in case something happens. Not only that, but the consequences of data loss can be damaging to businesses as it can ruin their reputation, affect productivity and stop organizational processes.

That’s where data loss prevention comes in.

Organizations have increased their spending on data loss prevention practices and software tools. The global market is expected to grow to $6.4 billion by 2028, and rightly so. Research has shown that you might end up paying more for data recovery solutions than you typically would for data protection measures.

This is why data loss prevention is important. We’ve prepared the following post to serve as a brief guide to everything you need to know about data loss prevention and why it is necessary.

What Is Data Loss Prevention?

Data Loss Prevention (DLP) refers to the process of preventing sensitive data from being disclosed or stolen. It is a crucial way to protect your company’s assets and information. This data could include intellectual property, corporate data, and consumer data.

The thing is, data resides in various devices, including physical servers, databases, personal computers, file servers, flash drives, and mobile phones. Not only that, it moves through many network access points, including VPNs, wire lines, and wireless connections.

There are many ways that data loss can happen. This includes human error, system failure, data corruption, theft, software corruption, natural disasters, and perhaps the most notorious one of them all, hacking.

Data loss prevention aims to provide solutions to these problems. Think of it as a combination of practices and software tools designed to prevent unauthorized access to data.

Why is Data Loss Prevention (DLP) important?

Data loss prevention is crucial because it helps minimize the risks of data being stolen, lost, or compromised. These practices and software solutions prevent data from being lost by identifying and monitoring all the different sources of data leakage.

The implications of data loss can be detrimental to organizations. For instance, business operations can come to a halt, reputations can be ruined, and money can be lost, not to mention legal actions and lawsuits.

Data loss prevention can’t be overlooked because the consequences can be devastating if an organization’s data is breached. For example, if a company has a breach of its payroll system, it might not have any money to pay its employees or make payroll deposits. This could lead to bankruptcy or, even worse – shutting down completely.

Another example would be if a healthcare provider had a breach of their records system. If private patient information leaks, it could lead to a ton of identity theft cases with patients. Not only that, but the healthcare provider would be subject to harsh legal ramifications.

5 Data Loss Prevention (DLP) best practices

1) Back up your data

Backing up your data is an essential practice in data loss prevention because it ensures that you have a copy of your data in case anything happens to the original. This way, you can restore all your files and programs.

2) Consider using a VPN

A VPN is a Virtual Private Network that provides an encrypted connection between two endpoints. This encryption means that all data sent over the network is scrambled and can’t be read by anyone else.

A VPN is essential for data loss prevention because it prevents people from intercepting, accessing, and tampering with sensitive information. And in the process, it also helps in protection against malware attacks. It would be in your best interest to carefully compare some of the best VPNs out there and choose the right solution if you want to ensure data moves securely within your organization.

3) Improve your network security

DLP focuses on protecting information as it moves across different media, such as email, cloud storage, social media, and other platforms. Network security can be improved to prevent data breaches by implementing DLP.

This can be achieved by using tools that monitor network activity to identify potential threats that could lead to unauthorized access or leakage of sensitive information.

4) Educate employees on data loss prevention practices

Employees are one of the first lines of defense against data breaches in an organization. So, investing in their education, training and raising cybersecurity awareness would be in your best interest.

Education should cover areas including using strong passwords, identifying and dealing with phishing attacks, using encryption software, deleting confidential material, and using encrypted USB drives, just to mention a few.

5) Implement a DLP policy

Data loss prevention practices outline how your organization protects and shares its data. They include written rules and procedures to ensure protection against data loss or lawsuits.

Bottom Line

Data is an essential yet sensitive asset for many businesses. Data loss often results in damaging outcomes, including tarnished reputations, loss of revenue, and interrupted business processes. To stop this from happening, organizations turn to data loss prevention.

Data loss prevention is essential as it helps businesses avoid potential data leaks, cybersecurity attacks, and lawsuits. There are many data loss prevention techniques, including backing up data, using VPNs, educating employees on DLP practices, improving network security, and introducing DLP policies.

About Cybernews

The team at Cybernews works diligently to bring breaking reports of online privacy and security issues, backed by in-depth technical analysis and investigative reporting. You can find more of their articles on Cybernews.com and reach them on Twitter (@CyberNews) anytime.