January 17, 2023
The more connected the world becomes, the greater the demand for visibility into data privacy becomes.
More than two-thirds of Americans believe their personal data is less secure now than it was half a decade ago.
Many have adopted a fatalistic attitude about having their digital activities tracked and analyzed. High-profile data breaches are often treated like natural disasters – unfortunate, but unpreventable.
But data breaches and natural disasters are not the same things. Organizations can detect and mitigate cyberattack risks successfully – the technology, expertise, and resources all exist.
Some organizations will prove they are trustworthy custodians of their users’ data. Over time, these organizations are practically guaranteed to outperform their less reputable peers.
The best way to put your organization on that path is to establish secure data privacy processes now.
There has never been a better time to start building trust and cultivating loyalty between your organization and its users.
Take Proactive Steps to Become a Customer Privacy Leader
Organizations that collect user data are already aware of the value that data represents. Users are becoming increasingly aware of that value as well. Trust must be earned, and organizations will have to demonstrate that they deserve it from their users in several ways:
- Be transparent and communicative about data collection. Your customers already assume you’re collecting and using their data. Telling them exactly what you’re collecting and why is the first step towards showcasing data privacy leadership. Not all security technologies do this – you’ll need a Glass Box solution that provides insight into how security processes really work.
- Offer users agency over data collection practices. Consumers should have the ability to opt out of data collection. The State of California has made this a legal requirement. But opting out is a limited form of control. Ideally, users should have the ability to choose how data is collected and why.
- Train your employees to protect data. Two out of three data breaches involve an insider. These aren’t always malicious attacks. Employee negligence can also put sensitive data at risk. Your employees should understand the value of protecting the integrity and confidentiality of user data and follow sensible protocols to ensure data is protected.
- Develop a comprehensive data security policy. Your employees won’t know how to respond to data threats without guidance. That guidance should come in the form of a complete plan for addressing data risks and responding to security incidents. Additionally, you must dedicate sufficient resources to this plan for it to produce positive results.
- Continuously update your security posture. Your cybersecurity policy won’t stay current forever. You’ll need to update it to meet new security guidelines and best practices as the threat landscape changes. This requires balancing time and effort otherwise spent enforcing current policies, but it’s vital to ongoing data privacy success.
Respond Decisively to Compromised Credential Risks
Cybercriminals are constantly innovating new ways to bypass existing security techniques and technologies. Compromising privileged accounts remains one of the most effective tactics available because there are rarely limits to what an authorized user can do on a protected network.
To prevent data breaches, you have to be able to detect, investigate, and mitigate compromised credential attacks. This requires carefully analyzing how emerging threats interact with current security best practices.
For example, hackers have reportedly found ways to defeat popular multifactor authentication methods. Security leaders need to take this information into account when projecting their risk management capabilities into the future. That only happens when security leaders have deep visibility, comprehensive policies, and sufficient expertise available to address security risks in real time.
Organizations that deploy User Entity and Behavioral Analytics (UEBA) technology can identify signs of compromised credentials before catastrophic damage is done. SIEM platforms like Exabeam provide security teams with powerful tools for detecting unauthorized activities taking place on legitimate accounts.
Find out how Castra can help you leverage Exabeam to protect against compromised credential attacks and position your organization as a trustworthy custodian of user data.