Protection of customer data is a method employed by businesses to safeguard sensitive consumer data safe from cybercriminals as well as internal negligence. This could include password protection along with network security and encryption of data. It’s a key element in creating a trust culture where customers feel comfortable about entrusting their information to your business.
Small businesses face unique challenges when it comes to security of customer data. They can still take steps to safeguard the data of their customers and comply with regulatory standards without the funds that larger competitors have.
When a company gathers personal data such as credit card numbers or social security numbers it must protect the information from cybercriminals and hackers that want to exploit it. Insecure protection of consumer data can have disastrous consequences for the business as well as its customers.
The worst case scenario is when hackers gain access to sensitive information and use it for identity theft or for fraud. The victims may also be impacted by reputational and financial damage.
Small businesses can minimize their chance of being hacked by restricting access to customer information read this and by regularly backing up data. They can also insist that laptops be stored in a secure area and implement security measures that require a token or “smartcard” or thumb print, or another biometric along with a passcode to access data on their computers. They can also erase any files that are no longer needed and regularly replace the old files with fresh ones.
