Protecting your enterprise from data breaches

As technology advances, the frequency of handling personal and confidential data rises. Some examples include: clients filling out legal, medical, and private information in online forms, or receiving confidential information in an email, and EDI transfers. With this increase, organizations have the responsibility to make sure their data and clients’ data is protected from data breaches.

What is a data breach?

A data breach exposes confidential, sensitive, or protected information to an unauthorized person. A data breach can include:

– Hacker/malware attacks
– Loss or theft of information
– Unintended disclosure of information

Healthcare, financial, pharmaceuticals, and legal services part of the top 6 industries that had the highest average total cost of a data breach.

Source: Cost of a data breach report 2021 by Ponemon Institute and IBM

Key findings

The key findings in the IBM report showed the potential that Cloud solutions would save organizations in data breach costs and even faster recovery from a data breach. Here are some findings below:

1. • – Stolen user credentials were the most common root cause of breaches in the study. At the same time, customer personal data (such as name, email, password) was the most common type of information exposed in data breaches. PII theft was found in 44% of all breaches in the study (average $180 per record)
   • – The shift to remote work during the pandemic appeared to have led to more expensive data breaches by an increase of $1.07 million USD
   • – Companies who used AI, security analytics, and encryption were the top three mitigating factors shown to reduce the cost of a breach, saving companies between $1.25 million and $1.49 million USD
   • – High levels of compliance failures resulted in an average increase of $2.30 million USD than organizations without
   • – Data breaches cost an average $2.15 million USD more with higher system complexity
   • – Ransomware attacks resulted costing more than the average data breach ($4.62 million USD)
     

Hosted~FTP~ cybersecurity features

Hosted~FTP~’s MFT solution eliminates exposure to data breaches and ransomware attacks. In addition, we assist customers in assessing their current cyber risk posture and recommend security features in our solution they need to make to eliminate MFT risk. We are ready to meet your teams where they are today to help prepare for the threats of tomorrow, identifying attacks early in the lifecycle, limiting their impact. Here’s some examples on how Hosted~FTP~ protects our customer data:

1. High-level Compliance: HIPAA, CJIS, PCI, SOC2 (IaaS)
   • – Hosted~FTP~ makes sure all our staff have been trained in proper data protection and handling, earning our HIPAA seal of compliance and more
   • – Read more
2. Advanced security features configurable by admins
   • – FTPeS/SFTP lock
   • – 2FA authentication
   • – SSO & AD
   • – IP whitelisting
   • – SSH key pairs via SFTP authentication
3. High Availability (HA) and real time Disaster Recovery (DR) of files and metadata
4. Data jurisdiction on single tenant
   • – Includes Private user namespace, file workspace, an encryption keys

Schedule a complimentary webinar today and get a customized setup.