As you probably know by now, the credit bureau,
Experian, was hacked and it resulted in 24 million South
Africans' personal data potentially being exposed.
Experian reported the breach to law enforcement and regulatory
Nischal Mewalall, CEO of the South African Banking Risk Centre (Sabric) says,
"The compromise of personal information can create opportunities for
criminals to impersonate you but does not guarantee access to your banking
profile or accounts. However, criminals can use this information to trick you
into disclosing your confidential banking details." This is one of the
biggest data breaches in South Africa in terms of client records and if a bureau as big as
Experian can be hacked, it can happen to anyone.
7 Ways to mitigate the risk of a data breach
vital for a company to protect its data, especially when dealing with
clients and confidential information. Data is king! And with this
being said, on all aspects of modern life, data is captured, stored, and
processed online. So how do you mitigate the risk of being a victim
of a data breach?
Below are useful 7 tips to help you minimize the risk of cyber threats:
1. Update Your Software
The first step is to ensure that all IT software and operating systems
with the latest security and operational patches from the vendors.
Microsoft and other vendors release monthly updates which should be
applied as soon as possible. These updates contain patches that resolve
the latest known exploits and vulnerabilities. Ensure that
you and all of your employees update their software.
Most AV protection suites are updated almost daily with the latest fixes
to security exploits, ensuring systems are as safe as possible against
virus outbreaks. If a virus signature is detected, the AV software will
simply intercept and quarantine the virus, preventing
the virus from spreading onto other systems.
3. Back-Up Your
Make backup copies of your systems which you can roll back to in case of
major incidents. One can never be too cautious!
4. Train and
educate your employees
This training should typically include information about the latest
security trends such as ransomware, phishing, spyware, rootkits, denial
of service attacks, and viruses. Educate your users on how to spot fake
URLs and attachments with bogus macro-codes embedded within,
as these can be used to harvest data from a compromised system.
5. Secure the
an infrastructure that audited
for security and compliance of system data, and
you will take a huge step forward to achieving a secure digital platform.
authentication is vital
authentication (MFA) or two-factor authentication
(2FA) is another strong tool which can be utilised to help mitigate
threats and plan ahead
Many of these steps will help you to identify and discover vulnerable
technology assets, and as you proceed through the implementation of your
security strategy, ensure that everything is documented
and that the documentation is regularly updated. Once internal and
external threats have been identified, it is important to make a plan of
how to prepare for the worst-case scenario, such as a data breach of
remember to work out a strategy to learn from any mistakes made.
For any assistance with CyberRisk Insurance please contact our offcie on 031-5021922 or vistit our website www.esbrokers.co.za.
Atricle courtesy of Atlantic