Keeping up with changes in the technology sector is complex, and with digital threats on the rise, cybersecurity trends are evolving especially quickly. It’s no wonder, then, that Accenture’s State of Cybersecurity Resilience 2021 report found that 82% of organizations said they increased their cybersecurity budget in the past year.
Each year, data breaches are steadily increasing, particularly in the financial and healthcare sectors. A data breach can cost companies significant time, not only in lost data but also in irreparable damage to the company’s reputation, lost clientele, and hefty legal fees. One of the most infamous data breach cases is that which occurred with Equifax in 2017. At this time, cybercriminals exposed almost 150 million US accounts, and Equifax paid a whopping $700 million in legal settlement fees. While not every breach is quite that disastrous, they’re expensive enough. As stated by IBM, the average cost of a data breach has now reached $4.24 million, making data privacy a top concern for many organizations.
So, what types of tech and services are savvy businesses prioritizing for improved data privacy? To decrease the likelihood of falling victim to a costly data breach, organizations are adopting cutting-edge technologies like zero trust architectures and self-protecting data. Furthermore, they’re protecting physical IT assets from unauthorized access by decommissioning outdated devices with the verified data destruction provided by ITAD servicers.
As the cybersecurity landscape changes, company leaders in every sector must ask themselves if they are ready to defend themselves against a data breach. If you’re interested in implementing a more robust cybersecurity plan this year, consider leveraging the tools and services below.
Zero trust architecture is not a program that you buy — it is a methodology to ensure that data has adequate protection throughout your system. The zero trust security model ensures that users and devices are continuously verified to reduce instances of data breaches. This is a significant contrast to traditional standards of data access, which often “remember” a user’s login or allow them to explore the network unchallenged after their initial verification.
The growing need for zero trust architecture emerged for several reasons, including the following:
A zero trust approach addresses these issues by continuously confirming a user’s authorization so that no unauthorized individuals can infiltrate and move freely through networks. Business leaders are recognizing the advantage of this model, and the global zero trust security market is projected to reach $51.6 billion in 2026 — a massive increase from $19.6 billion in 2020.
Self-protecting data is relatively new in the realm of cybersecurity, but even federal government agencies are adopting this new technology over traditional layered protection tools. Although perimeter-based cybersecurity methods like firewalls were once considered the pinnacle of data protection, time has shown that these defenses are only effective if users adhere to the proper protocols. Furthermore, they are only effective until a breach occurs, at which point their protection is completely undermined.
As cybercriminals become more adept at obtaining confidential information, a perimeter-based cybersecurity system is no longer sufficient, especially in industries that work with highly sensitive information. Enter self-protecting data, which does not rely on human efficiency to function correctly. Self-protecting data governs itself, with protections built directly into the data. The data owner can set certain rules for access and have total control over the privacy and security of each file.
Operating on zero trust principles, self-protecting data will constantly verify the person attempting to access the data and understand who is permitted to access specific information. If the person appears to pose a threat, the data will automatically shield itself from being accessed.
When it comes to protecting your company’s data — whether that means employee details, financial statements, or proprietary research — it is of the utmost importance that your cybersecurity efforts do not stop with installing security within your devices but also include your handling of the electronics themselves.
In the past, a company’s data destruction policy might have involved shredding and destroying paper documents or recorded tapes. Nowadays, when companies are poised to get rid of their old IT assets, they must ensure the erasure of all sensitive data from their electronic devices before they are disposed of. It’s not enough to simply throw electronics in the trash. Not only is this bad for the environment and your public image, but it leaves any data still stored in the device vulnerable to unauthorized access.
IT asset disposition (ITAD) services provide a better cybersecurity solution by offering guaranteed data destruction for your end-of-life devices. This will ensure that your sensitive information does not end up in the wrong hands and potentially cost your company millions of dollars. You can even request a data destruction certificate to confirm that your company’s information has been appropriately handled, protecting yourself from liability down the road.
When it’s time to get rid of your unwanted electronic devices, protect your company’s data by working with a certified ITAD company that will eradicate any sensitive information stored deep within your IT equipment.
First America Metal Corp. (FAMCe) has over 30 years of experience assisting businesses with the secure destruction and recycling of their outdated electronics, providing data security solutions for various devices. Our high level of expertise and exceptional customer service have built our reputation as the leading company for your ITAD needs.
Want to recycle your old devices with confidence? Contact FAMCe today for e-waste disposal that’s ethical and secure.