Startups spearhead change, leveraging entrepreneurial and innovative spirit to move the world forward. They attract favorable attention from investors and early adopters. However, this also puts startups in the sights of cybercriminals.
Due to its highly sensitive nature, the safety of the proprietary and personal data startups collect is a top priority. Here are the eight steps you should take to ensure comprehensive and resilient data protection for your startup.
- Conduct a Data Storage Assessment
A full-scale assessment is the first crucial step toward creating a robust data protection strategy. Understanding what data you’re collecting and how cybercriminals could misuse it is just the beginning. It’s important to know where the data is being collected, what protection measures are in place, and what vulnerabilities need to be addressed. This assessment should also examine the systems and processes in place for data storage, access, and sharing.
- Create a Data Storage Policy
You’re now better equipped to create a data storage policy that will inform all future related decisions and security measures. Such a policy should outline what type of data is crucial for regular business operations as well as what’s best not to collect to minimize exposure. It needs to establish approved storage methods and locations, protection standards, and proper deletion procedures.
The policy must also specify who is in charge of data management and how it is accessed. It should also address how it is kept free from illegal access or leaks. It must also take regulatory compliance into account and guarantee that data is handled in a manner satisfying all legal and industry criteria.
- Encrypt Crucial Data
While no cybersecurity measure is foolproof, encryption is the most effective means of protecting sensitive data. The contents of encrypted files become scrambled and useless, remaining protected even if someone steals these files.
Files need to be encrypted during storage and transfer. Disk encryption tools and dependable cloud storage providers provide the former. Encryption in transit is possible through VPNs and protocols like Transport Layer Security (TLS). Any business-related communication should also run through secure channels.
- Establish Strict Access Controls
Regulating data access is an impactful measure against external attacks like data breaches and malicious insiders. On the one hand, it should hinge on role-based access controls. These establish roles with access, editing, and viewing permissions that allow users to do their work without overstepping bounds and endangering file security.
On the other hand, each user needs strong safeguards that prevent their account from being stolen or compromised. Traditionally, you’d accomplish this by enforcing strong and unique passwords for all accounts. However, tech-forward startups are adopting passkeys as a safer and more convenient alternative. Passkeys don’t require users to remember or enter them manually. Each is also tied to a specific tool or website, eliminating credential theft through phishing attacks.
- Secure Your Endpoints
If not properly cared for, employees’ devices used to access sensitive data can introduce ransomware, malware, and other dangers. Make sure they’re only running approved software, and that automatic updates are active. Additionally, leverage anti-malware to conduct security scans regularly and eliminate threats.
This will help ensure that devices remain protected from emerging vulnerabilities. It’s also important to establish clear guidelines for employees regarding safe usage practices and how to recognize potential security threats. Regular training and awareness programs can further reduce the risk of human error, ensuring that employees are equipped to prevent security breaches before they occur.
- And Your Network
Network vulnerabilities can help attackers bypass other security measures, so identifying and addressing them is a priority. Penetration testing plays a vital role in this, so conduct it regularly. Firewalls and intrusion detection systems monitor suspicious activity and can mitigate it in real-time.
- Vet Third-Party Extensions and Vendors
If your startup is in software development, you likely rely on third-party code and tools to develop your solutions. Obscure or outdated libraries and extensions may create backdoors in your products or networks, jeopardizing any data these offer access to.
It’s similar to third-party vendors. You can’t directly control their cyber defenses. Still, you can set data protection standards and only do business with third parties that follow them.
- Ensure Compliance with Privacy Regulations
A growing body of laws and industry standards obliges businesses to implement strict data handling and privacy measures. Not adhering to standards like HIPAA in the medical field or GDPR if you have European clients can lead to compliance issues and legal repercussions.
These rules are meant to keep private information safe and hold companies responsible for how they use customer data. Failure to follow the rules can cost a business money and hurt its image with customers. To lower these risks, it’s important to stay informed and up to date on the rules that apply.
