Data security is essential to building consumer trust as the world of information is becoming more interconnected. Customers expect their companies to protect and safeguard their personal data and those who excel at this have an edge over those that do not. This article examines ten important guidelines that every company should know and follow to safeguard customer data.
The most basic type of customer data is personal information, which relates to any piece of information that could be used to identify the person. This includes names, addresses, phone numbers, and more. There are other sensitive data types that can cause serious consequences if they fall into the wrong hands. For instance the Social Security Number or credit card number. Sensitive personal data (SPI) also includes ethnic More Bonuses or racial origins, sexual orientation, and many more.
SPI could be used for identity theft. This poses a serious risk to the personal and financial security of customers. When hackers obtain this type of information they could make use of it to obtain credit cards or loans on behalf of the victim which could leave them with devastating consequences.
To lower the risk that data breaches will occur, businesses should limit the amount of SPI they collect, and only use it for legitimate reasons. They should also utilize encryption on their servers as well as in transit to ensure that their data isn’t read by hackers. Furthermore, they should utilize password management tools as well as two-factor authentication to minimize the chance of data breaches due to compromised passwords.
