Best Practices to Minimize Security Risks for Your Business & Your Clients

Did you know that 1,054 breaches occurred last year in the U.S. alone, costing the average company $5.4 million dollars*?

Not only that, according to the Online Trust Alliance, 89% of the breaches analyzed could have been avoided with basic controls and best practices.

With data security breaches continuing to rise, it’s important to ensure you are taking the proper steps to protect your data. Here are a few best practices you can do to reduce security risks for your business as well as your customers:

  1. Education: It’s key that not only your employees, but your customers understand the current threats, exposure and risks so that they can be prepared to take precaution. By providing resources and education about the severity of a data breach, your employees and customers can monitor for habits that may cause risk.
  2. PCI Compliance: A recent study shows that merchants who do not achieve PCI compliance are twice as likely to experience a data breach. That being said, it’s crucial to stress the importance of PCI compliance. Make sure you are achieving full PCI compliance and review your SAQ or ROC.
  3. Security Tools: What types of tools are in place to defend against a data breach? Be sure anti-virus and anti-malware tools are being utilized and are up-to-date. Not only that, it’s important that you take advantage of tokenization, encryption and EMV products for all POS devices.

It takes an average of 253 days for a company to realize it’s been breached. Take the precautions necessary with solutions from Paymetric.

 

*Source: The Strawhecker Group