Data security is vital to establishing trust among consumers as the digital world is becoming increasingly interconnected. Consumers expect companies to safeguard and protect their personal information and those who excel in this regard have an advantage over those who do not. This article examines ten important guidelines that every company should be aware of and implement to keep customer data safe.
The most basic form of customer data is personal information, which refers to any piece of information that can directly identify the person. This includes names addresses, addresses, phone numbers, and more. There are more sensitive data types that could cause serious harm when they fall into wrong hands. For example the Social Security Number or credit card number. SPI also includes racial as well as ethnic origin, sexual preference, and other sensitive personal information.
SPI can be used to commit identity theft. This poses a grave risk to the personal and financial well-being of customers. If hackers acquire this kind of data they can utilize it to apply for credit cards or loans that are in the name of the victim, which can leave them with devastating consequences.
To lessen the risk of data breaches, companies should restrict the amount of SPI they collect and website link only make use of it for legitimate purposes. They should also utilize encryption on their servers and in transit to ensure that the data is not accessible to hackers. They should also implement two-factor authentication and password management tools to reduce the chance of data breaches due to compromised passwords.