Category Archives: HIPAA Compliance

02.02.21
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Network Security: 4 Quick Tips to Protect Your Network From Hackers

Is your internet network safe from hackers?

The truth is that no network is security all the time, especially in this day and age. A cyber attack can happen any time, and sometimes it remains undetected for days, weeks, or even months.

 

That said, you should always strive for network security so you can minimize your risk of a data breach or full-blown cyber attack.

 

In this guide, you will learn how to safeguard your network so you are protected from cyber threats. Keep reading to discover four quick tips to secure your company’s network now.

 

#1. Choose Strong Passwords

 

Make your passwords long with numbers and upper and lowercase letters. The longer and more complex the password, the more difficult it is to guess. Encourage all of your employees to follow these guidelines.

 

 

#2. Encrypt Your Internet Connection With WPA

 

Enable a Wi-Fi Protected Access (WPA) encryption on your business network. WPA2 is the best and most trusted option. This protects your data from being shared with outside parties.

 

#3. Use a Virtual Private Network (VPN)

 

Add an extra layer of protection with a Virtual Private Network (VPN). This allows you to securely access your data on any network. If employees are traveling or working from home, they will be protected with your VPN.

 

#4. Install a Firewall

 

Protect customer data and keep your business in good standing by installing a Web Application Firewall (WAF). When people purchase your products or services online, their information will be protected from cyber attacks.

 

Protect Your Network Now With Co-Managed IT Services

Connect With Miami’s Best IT Specialists Now. Don’t wait to secure your network.

 

Not only will co-managed IT services provide you with cybersecurity and peace of mind, but it will also help increase your company’s productivity.

 

On average, companies that choose managed network infrastructure with Third Power IT are experiencing 99.99% uptime.

 

The service desk at Third Power IT operates 24 hours a day 7 days a week including holidays, solving an average 90% of all technology requests remotely with an average resolution time of 8 hours.

 

The network support staff is available 24/7 and is dedicated to ensuring the integrity of your network infrastructure.

 

Connect with us now to secure your network and experience the benefits of network management.

 

 

 

 

The post Network Security: 4 Quick Tips to Protect Your Network From Hackers appeared first on Third Power IT – Managed IT Services.

Courtesy of Miami IHIPAA Compliance IT Company - ThirdPowerIT.com

01.25.21
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Miami IT Consultants Talk the Top 4 Internal Cyber Threats To Your Network

Is your business at risk of an insider cyber-attack?

 

Many business owners – and the IT professionals they rely on – focus on protecting their companies from external threats:

 

  • the lone hacker out for a large ransom
  • the industry competitor pilfering secrets
  • organized cyber-criminals with sophisticated phishing schemes

 

But what about internal threats?

 

The Dangers of Internal Cyber Threats

 

Some organizations fail to consider the true risks that insiders pose to their cybersecurity. But internal risks are every bit as dangerous and damaging as the external ones, even if there is no malicious intent.

 

Did you know a quarter of all cyber attacks happen because of an insider threat?

 

The 2019 IBM Cost of Data Breach survey revealed that 24% of all data breaches in the past five years were the result of negligent employees or contractors.

 

Another report, Insider Data Breach Survey, found:

  • 60% of executives felt employees who made mistakes while rushing to complete tasks were the primary cause of internal breaches.
  • Another 44% pointed to a lack of general awareness as the second most common reason.
  • 36% cited inadequate training for their organization’s security tools as a close third.

 

To drive home the full harm of insider threats, we’ve compiled four actual case studies of internal people who’ve wreaked financial and reputational damage when they got careless, or abused their knowledge and positions for personal gain.

 

Learn the top four internal cyber threats to your network now.

 

Top 4 Internal Cyber Threats to Your Network

 

Internal Cyber Threat #1: The Careless Employee

 

A report by a company’s chief security officer discovered that one of the organization’s techs was using duplicate credentials across multiple accounts and failed to set up two-factor authentication on at least two of his accounts.

 

The employee neglected to do two important cybersecurity best practices:

  1. Do not use the same log-in for more than one account
  2. Apply two-factor authentication for additional protection

 

This weak security enabled hackers to easily infiltrate the company’s network where they disabled and deleted all data backups – local and cloud. After sabotaging the organization’s backups, the hackers then installed ransomware and demanded payment. Without a usable backup, the company was forced to pay the ransom to recover its data.

 

What You Can Do

  • Set up automatic scans to check each client’s security settings on each machine to ensure that your IT security policies are being enforced.
  • Generate an automatic alert when two-factor authentication is not turned on where it should be.

 

Internal Cyber Threat #2: The Sneaky Former Employee

 

Former employees take your proprietary information with them when they leave. Unfortunately, some of them decide to appropriate that information.

 

In a case study, an engineer quit his job to start his own business that would be in direct competition with the company he left. According to court documents, the engineer hacked his former company’s server using a former co-worker’s stolen credentials.

 

Once inside the network, he was able to retrieve AutoCAD files, design schematics, project proposals, and budgetary documents – all information that could provide a competitive advantage over his former employer. The value attributed to proprietary information he stole was between $250,000 and $550,000.

 

For his efforts, the engineer was sentenced to 18 months in prison and two years of supervised release.

 

What You Can Do

  • Establish “exit procedures” for employee turn-over that includes the immediate removal of ex-employees from Active Directory.
  • Scan the network daily for suspicious log-in attempts by ex-employees and others, and generate an alert for each incident.

 

Internal Cyber Threat #3: The Compromised Third-Party Vendor

 

An “insider” doesn’t have to be located directly within your walls to become a threat to your network. Trusted third-party vendors may have enough access to your data to be unknowing conduits for external hackers and do damage to your network.

 

In one scenario, a hacker infiltrated a billing collections agency and gained access to patient information that belonged to one of the agency’s clients: a healthcare laboratory.

 

Almost 12 million patient records were compromised, including credit card numbers and other personal identifying information. A security firm that tracks compromised data found 200,000 patient payment details from the billing company for sale on the dark web.

 

Fortunately, the lab had insurance in place to cover some of the potential cost and liability as a result of the HIPAA violation.

 

What You Can Do

  • Set up internal IT security policies that limit storage of credit card and other personal identifying information.
  • Only grant access to select employees with security clearance levels.
  • Regularly scan the network for any suspicious log-in attempts and generate alerts to investigate.

 

Internal Cyber Threat #4: Software and Devices

 

Out-of-date devices and software typically do not receive critical security updates, rendering them accessible to hackers.

 

In one instance, a massive cyber attack penetrated a software vendor’s IT management systems through a legacy IP scanner tool and compromised an unknown number of end-user client servers.

 

Some clients had administrative superuser accounts created within their Windows active directory, so unidentified intruders had full access to their systems and data long before detection.

 

More than two months after the attack, the full extent of the damage was still unknown.

 

What You Can Do

  • Scan all networks daily for software that is missing the latest security patches.
  • Generate alerts for machines that need updating.

 

Protect Your Network With Third Power IT, Miami’s Most Trusted IT Consultants

 

As a reputable MSP, we understand cybersecurity and its significance to your business.

 

At Third Power IT, we provide cyber threat detection and protection that can accommodate networks of any size. Our specialized security software runs a daily check on your network and alerts us immediately when it detects potential cyber attacks.

 

Get the protection you need now. Call us at 844-677-3687 or visit www.ThirdPowerIT.com.

 

Sources:

  • Cost of a Data Breach, IBM, 2019
  • Insider Data Breach Survey 2019, egress, 2020

 

 

The post Miami IT Consultants Talk the Top 4 Internal Cyber Threats To Your Network appeared first on Third Power IT – Managed IT Services.

Courtesy of Miami IHIPAA Compliance IT Company - ThirdPowerIT.com

01.21.21
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Could Downtime Cost Your Business Thousands?

Are you aware of the costly consequences of downtime?

Downtime related to one cyber-attack could cost your business the equivalent of an employee’s salary for a whole year!

This 5-figure risk shouldn’t be taken lightly, especially when there are ways to prevent it from happening to you.

Before we dive into how you can prevent downtime from happening to your business, let’s quickly cover what downtime is and how it can affect you.

 

What Is Downtime In Business?

Downtime refers to the period of time when your company is offline. During this time, you don’t have access to your network. This prevents you and your employees from performing routine tasks online. As a result, your online business transactions are halted, your email is inaccessible, and you’re losing money by the minute.

No business owner wants this. Not only does it make you look unprofessional, but it also eats away at your productivity and your profits.

Keep reading to find out what causes downtime so you can prevent it from happening to you and your business.

 

What Causes Downtime?

Downtime occurs when a network connection is interrupted. That can mean a simple internet outage, or it can be more serious like a cyber attack.

One of the most common cyber threats is called a ransomware attack. If this happens to you, you risk losing a whole week of sales.

As you can see, this is a serious threat to your business. Luckily, it’s possible to minimize the risk of downtime and protect your business from cyber attacks.

Read on to discover how to minimize downtime so your business can operate as lean as possible.

 

How To Minimize Downtime

Keep your business up and running by preventing downtime from happening to you.

  • Secure your network
  • Enable data protection
  • Assess cyber risks regularly

Now you know the importance of protecting your business from downtime. But where do you start?

Luckily, you can hire experts to oversee your network management. These managed IT services will help you keep your business safe and secure.

Are you ready to get started?

 

Prevent Downtime: Invest In Network Management Now

Now that you know how much downtime can cost you, you’re most likely certain that you don’t want to experience it. But how do you keep that from happening?

 

If you don’t know how to keep the risks at bay, that’s what we’re here for!

Third Power IT provides the most trusted Managed IT Services in Miami and South Florida. If you are looking for a network management partner who understands your unique needs, you’re in the right place.

The experts at Third Power IT, South Florida’s best IT consultants, use a 3-prong approach to protect your network:

  1. Strategy
  2. Security
  3. Stability

To start designing your custom network management plan, contact us at 844-677-3687 or visit www.ThirdPowerIT.com right now.

 

The post Could Downtime Cost Your Business Thousands? appeared first on Third Power IT – Managed IT Services.

Courtesy of Miami IHIPAA Compliance IT Company - ThirdPowerIT.com

01.13.21
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Miami HIPAA IT Services Company Discusses HIPAA Cyber Attacks & Your Practice

HIPAA Cyber Attacks: Risk Assessments, Compliance as a Service, and the Consequences of Violating HIPAA

Did you know 95% of healthcare facilities have fallen victim to a cyber attack?

Since your new patient intake form contains all of the pertinent information to steal an identity, including social security numbers, this information is extremely valuable on the dark web. In fact, the dark web sells health records 8-10x more than credit card information. 

So, what does this mean for you?

A cyber attack violates the Health Insurance Portability and Privacy Act of 1996 (HIPAA). We’re sure you’ve heard of it, but do you know the consequences of a data breach?  When you violate HIPAA, you put your patient’s sensitive information at risk, and you also put your practice at risk of hefty fines, litigation, and even permanent closure.

 

A HIPAA violation will cost you:

  • You’ll face penalties and fees.
  • Your reputation will be damaged. 
  • Your patients will lose trust and leave.
  • Your facility will get shut down during an investigation.*

*On average, a medical facility loses $30,000 each day it is shut down due to a HIPAA violation.

So, how can you protect your patients’ data and your practice?

 

Conduct Regular HIPAA Risk Assessments

In order to remain HIPAA compliant and avoid a six figure fine, your healthcare facility needs an ongoing strategy to protect patient data.  Cyber threats are dynamic, and they can present themselves at any time. For this reason, you need to have 24/7 surveillance over your cybersecurity. Once you have routine risk assessments in place, you will feel more confident about where you stand in regards to HIPAA compliance.

But where do you start?

 

Find a Trusted Partner That Offers Compliance as a Service (CaaS)

Simplify your HIPAA compliance strategy by finding a provider who knows how to protect your patient data at all times. When you invest in Compliance as a Service (CaaS), you will gain peace of mind while saving time so you can focus on your patients and your practice. Plus, you will avoid huge fines that could literally break your business.

Are you ready to secure your HIPAA compliance so you can keep doing what you do best?

 

Team Up With the Consultants at Third Power IT Now!

Don’t fall victim to a cyber attack that can cost you everything you’ve worked so hard to achieve.  Every minute you wait, you are more susceptible to a HIPAA violation. Act now to set up regular risk assessments and protect your healthcare facility now.

Our Miami HIPAA Compliance IT Consultants, use a 3-prong approach to protect your data:

  1. Strategy
  2. Security
  3. Stability

We will help you uncover weaknesses in your data protection strategy and secure your sensitive information before the dark web gets ahold of it.

To start designing your custom cybersecurity plan, contact us at 844-677-3687 or visit www.ThirdPowerIT.com right now.

The post Miami HIPAA IT Services Company Discusses HIPAA Cyber Attacks & Your Practice appeared first on Third Power IT – Managed IT Services.

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01.04.21
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Coronavirus and Cybersecurity: How Remote Working Presents New Cyber Threats

Is your business at an increased risk of a cyber attack?

If you’re in business right now, the answer is most likely yes. Due to Covid-19 and changes in the way we do business, cyber threats are at an all-time high. In 2020, we saw a surge in remote working as the coronavirus spread across the globe. What many thought would last just a month or so has turned into nearly a year of remote working to date.

 

Cyber Threats and Remote Working

Remote work poses more cyber threats for your business than ever before.  While cybersecurity has always been a challenge for businesses with sensitive data, now we are facing a whole new array of challenges. 

For instance, if your employees are working from open networks like coffee shops or unprotected hotspots, your sensitive business data is more susceptible to a cyber attack.  From the potential safety of the remote working networks to trivial human errors, there are endless ways in which your IT network could be affected when employees are working remotely.

The most unsettling part is that a single unexpected breach could wipe out all of your hard work: customer data, proprietary information, and much more.

So, how can you prevent this from happening to you?

 

Cyber Threat Prevention

Is your cybersecurity posture strong enough to withstand a potential attack? In order to ensure the security of your data, you need to take a proactive approach to protect it. 

With the sudden transition to remote working, security teams are working around the clock to ensure the safety and security of business data — and with good reason. Once your data is compromised, you may not realize it for months.

According to a study by IBM Security, it takes companies roughly 197 days to detect a breach and 69 days to contain it. How much time and money would this cost your business?

IBM also reports that the average data breach costs a business $3.86 million.

As you can see, a cyber attack can be detrimental to your business, setting you back millions of dollars in revenue. Don’t let this happen to you.

 

Protect Your Business Data Now

Now you know that cyber attacks can go undetected for almost an entire year! 

If you want to make sure your data is safe and protected, don’t wait. Protect your business data now before a cyber attack occurs. 

 

Contact a Cybersecurity Expert Now

 

Not all IT companies are created equal. It’s important to find cybersecurity experts who know how to manage and protect your data 24/7.

Let us do the legwork for you so you can rest easy. Connect with the best IT professionals in South Florida now. 

 

Article curated and used by permission.

Data Sources:

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Courtesy of Miami IHIPAA Compliance IT Company - ThirdPowerIT.com

12.31.20
by

Top 5 Cyber Threats For Businesses In 2020

Did you know that cyber attacks were 400 percent higher in 2020 than the attacks reported before the onset of the coronavirus? The COVID-19 pandemic changed life, business, and cybersecurity as we know it. Unfortunately, as we step into a new year, these cyberthreats are still very real and should be top of mind for you as a business owner. 

First, you should know what a cyber threat is and how it can affect your business. 

 

What is a Cyber Threat?

 A cyber threat is a breach in the protection of your sensitive data.

Cyberthreats come in different shapes and forms. From a simple spyware monitoring your network transactions to a full-fledged ransomware attack that holds all your critical data for a ransom, there are multiple ways your IT network could be compromised. 

When you know the potential risks surrounding your IT infrastructure, you can build a resilient cybersecurity strategy that enhances your IT environment and keeps vulnerabilities at bay.

 Don’t let the top 5 most common cyberthreats happen to you.

 

The Top 5 Most Common Cyber Threats for Businesses

 

#1. Phishing Scams

Phishing emails still pose a major threat to the digital landscape of many business organizations across the globe. COVID-19 communications have provided the perfect cover for these emails to lure unsuspecting users. 

By creating a sense of urgency, these emails might persuade your employees to click on malware links that could steal sensitive data or install malicious viruses inside a computer.

 

#2. Ransomware

Targeted ransomware attacks are increasing every day. It is estimated that a ransomware attack will happen every 11 seconds in 2021. Ransomware attacks hold an organization’s critical data for ransom, and millions of dollars are paid to hackers every year as corporations do not want to risk losing their sensitive data. 

However, there is no guarantee that your files will be secure even after you pay the ransom.

 

#3. Cloud Jacking 

With the cloud becoming a more sophisticated way of storing data, incidents of cloud jacking have become a serious threat. These attacks are mainly executed in two forms:

  1. Injecting malicious code into third-party cloud libraries
  2. Injecting codes directly to the cloud platforms

As estimated by the 2020 Forcepoint Cybersecurity Predictions, a public cloud vendor is responsible for providing the infrastructure while most of the responsibility concerning data security rests with the users. 

So, bear in mind, you are mostly responsible for your data security even when it is on the cloud.

 

#4. Man-in-the-Middle Attack

Did you know hackers can insert themselves in a two-party transaction when it happens on a public network? Once they get access, they can filter and steal your data. 

If your remote working employees use public networks to carry out their official tasks, they are vulnerable to these attacks.

 

#5. Distributed Denial-of-Service Attack

This attack happens when hackers manipulate your normal web traffic and flood the system with resources and traffic that exhaust the bandwidth. As a result, users will not be able to perform their legitimate tasks. 

Once the network is clogged, the attacker will be able to send various botnets to the network and manipulate it.

 

Why You Should Protect Your Business from Cyber Threats

 As you can see, cyber threats are not going away, and an attack can be very costly. It can even cause irreparable damage to your business.

A cyber attack can:

  • Compromise your sensitive data
  • Decrease your brand’s value
  • Lose the trust of your customers
  • Result in hefty fines and penalties 
  • Cause your business to close for good

Don’t let this happen to you. Stop a cyber attack before it starts.

 

Protect Your Data With the Cybersecurity Experts at Third Power IT

The Best Managed IT Services in Miami and South Florida

Every business needs a data protection strategy in order to survive in today’s digital economy. Not only is it recommended, but in many countries, it’s the law. 

Are you ready to ensure your business is protected and compliant?

Team up with a trusted MSP partner who can continuously monitor and secure your IT infrastructure. Reach out to the experts at Third Power IT to discover how you can safeguard your data right now.

Visit www.ThirdPowerIT.com to learn more and connect with us now.

 

Article curated and used by permission.

Data Sources: 

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Courtesy of Miami IHIPAA Compliance IT Company - ThirdPowerIT.com

12.30.20
by

Data Protection Regulations: The ‘New Normal’ For All Businesses

Do you know which asset is most wanted by today’s cybercriminals?  You guessed it, “Data”.  Do you know what data protection measures are in place in your organization?

In today’s global information economy, your business data is the golden goose chased by cybercriminals. Given how this data is constantly evolving, who can ensure that it isn’t exploited for unsavory gains? Well, governments worldwide have stepped up to the plate. The majority of countries across the globe are helping protect sensitive data by implementing laws and regulations that make it more difficult for cyber theft to take place.

This global wave of changes started with the implementation of General Data Protection Regulation (GDPR) in 2018 by the European Union (EU). This new law holds businesses accountable for protection of data and privacy. Today, 132 out of 194 countries have put in place legislation to ensure protection of data and privacy, as per the United Nations Conference on Trade and Development (UNCTAD).

Wondering how is this related to compliance and moreover, your organization?

 

Any business in the world, including yours, must comply with at least one data protection and privacy regulation.

Whether you are a local or a global business, you must understand that ignoring this global consensus can leave your business’s future in limbo.

 

Consequences of Ignoring Data Protection and Privacy Regulations:

  • Compromised information
  • Legal ramifications
  • Loss of consumer trust
  • Revenue loss

Don’t let this happen to you. It’s time for you to be smart about compliance.

Let us help you understand the difference between protecting your data and privacy, the prevalent global awakening and how compliance affects you and your business.

Let’s hit the ground running!

 

Data Protection Versus Data Privacy: Related But Not The Same

While protecting data is about securing data from unauthorized access, data privacy is related to how an authorized access is defined (who can access the data and the ways in which he/she can manage it).

Your business must understand this distinction and the fact that the existence of one doesn’t eliminate the need for the other.

While you might have the right technology to build a robust data protection posture, it still might not ensure the privacy of personal data. Even authorized individuals who can access the data could also exploit it.

Simply put, you must deploy the right technology and the right policies to ensure every bit of data you store and process remains secure and private.

It’s time to quit stalling and start moving forward with proper security and privacy standards.

 

A Global Awakening: Data Protection And Privacy Standards

Are you late to the data protection and privacy party?

UNCTAD data showcases how 66 percent of countries already hold legislation on data protection and privacy, while 10 percent have drafted one, and the remaining countries are likely to follow suit.

Do not ignore this global consensus! Even if it doesn’t seem like it now, it certainly can and will impact your business. It won’t be long (if not already) before your state or national government decides to take the plunge.

Here’s just a glimpse at where data regulation is in place or will be eventually implemented:

 

Australia: The Privacy Act (1988)

Brazil: Protection of Personal Data Bill (2011)

Canada: Personal Information and Protection and Electronic Documents Act (PIPEDA)

China: Personal Information Security Specification (2018)

The European Union (EU):  (GDPR)

Japan: Act on the Protection of Personal Information (2007)

Kenya: Bill focused on the protection of data (drafting in progress)

Nigeria: Protection Regulation (2019)

Russia: Federal Law Regarding Personal Data (2006)

Singapore: Personal Protection of Data Act (2012)

South Africa: Protection of Personal Information Act (2013)

South Korea: Personal Information Protection Act (2011)

Uganda: The Data Protection and Privacy Bill (2015)

Uruguay: Law on the Protection of Personal Data and Habeas Data (2008)

 

Countries currently deliberating a regulation include Argentina, Chile, Ecuador, India, Malaysia, New Zealand, Switzerland, USA (a federal legislation) and more. That’s 50 countries already! Could this phenomenon be any more global?

 

Be Smart. Don’t Wait. Start Now!

Even if it seems complex or unfair, compliance is smart business. Therefore, keeping it on the backburner is just an open invitation to trouble.

How much do you value the reputation and integrity of your business?

Please remember that your failure to demonstrate compliance with just one regulation standard alone can take your business straight into a dark phase of uncertainty.

 

You can suffer losses in the form of:

  • License cancellations
  • Hefty fine(s)
  • Damage to reputation
  • Expensive lawsuits
  • Loss of business

Now is the time to get ahead and take your first steps towards protecting your data and privacy compliance.

 

Let A Trusted Partner Help You With Your Data Protection

Team Up With the Miami IT Experts at Third Power IT

It takes special skills and tools to look ‘under the skin’ of your network to ensure it is both secure and compliant. It helps having a trusted partner that has managed both cybersecurity and compliance for businesses before.

Rest easy knowing your data is protected and compliant.

 

Trust Your Data With Third Power IT

Miami’s Best IT Data Security Professionals

You are just one step away from assessing your compliance needs and implementing data compliance & protection the right way. Let’s talk compliance!

Call us at 844-677-3687 to start crafting your unique protection strategy plan now.

 

Article curated and used by permission.

http://www.kaseya.com

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Courtesy of Miami IHIPAA Compliance IT Company - ThirdPowerIT.com

12.29.20
by

Your Data Protection: A Closer Look At Data Privacy And Data Security – And Why You Need Both

Do you have processes in place to keep your data safe and compliant?

The importance of data privacy and data security has grown exponentially as organizations today collect and store more information than ever before.

Having a robust data protection strategy is critical to safeguard confidential information and to ensure smooth functioning of your business. But before we move on, let’s take a step back to understand the key concepts of data privacy and data security.

The terms data privacy and data security are often misunderstood and are being used interchangeably. However, they are two separate concepts.

Now let’s take a closer look at the difference between the two.

 

The Difference Between Data Privacy And Data Security

Does your business require data privacy, or does it need data security?

The answer: It probably needs both.

While data privacy focuses on how information is handled, stored and used, data security is concerned with protecting your organization’s assets.

  • Data Privacy: the process of safely handling and storing sensitive data
  • Data Security: the strategy to protect data from cyberthreats

As you can see, your business most likely needs both processes in order to remain protected and compliant.

Now let’s take a closer look at how each operates.

 

Understanding Data Privacy & Why You Need It

Data privacy deals with the regulations and practices to ensure data is responsibly handled. It includes how information is collected, processed, stored and disseminated.

Any organization that collects and stores data or does business across the globe should comply with several privacy regulations, such as:

  • General Data Protection Regulation (GDPR)
  • California Consumer Privacy Act (CCPA)
  • Health Insurance Portability and Accountability Act (HIPAA)
  • Payment Card Industry Data Security Standard (PCI DSS)
  • Children’s Online Privacy Protection Act (COPPA)

In addition to the privacy regulations named above, your business should also comply with other relevant privacy laws.

The aim of these regulations is to protect and enhance consumer and personal privacy. These rules give individuals the right to know what information is collected, why it’s collected and how it’s processed.

As data privacy regulations are growing globally and becoming more complex, privacy requirements are also changing. Non-compliance to these laws could cost your business dearly.

 

Did you know? In 2019, Google was fined $57 million under the European Union’s GDPR law.

 

The Importance of Data Privacy

Data privacy is an individual’s right to control who has access to personal information and how it should be used. This also protects personal information from being sold or redistributed to third parties.

When organizations collect customer data, it is the organization’s responsibility to protect and preserve their clients’ sensitive information. Not having a privacy policy in place or failure to complywith privacy laws can lead to serious consequences, apart from legal actions and financial loss.

Now that you understand data privacy, let’s dive deeper into what data security is and why it’s also important to your business.

 

Understanding Data Security & Why You Need It

Data security is the process of protecting information from unauthorized access, data corruption and data loss. A data security process includes various techniques, data management practices, and technologies that act as defense mechanisms to protect data from internal and external threats.

Data security is concerned with what an organization does with the data collected, where and how the data is stored, and regulates who can access the information.

 

A comprehensive data security strategy will:

  • Help prevent data breaches
  • Ensure business continuity
  • Keep your company’s data safe from cyberthreats

 

Did you know? It is estimated that organizational spending on cybersecurity will reach $123 billion in 2020. 

 

Importance of Data Security

Have you heard the expression, “Data is the new oil”?

Coined by Clive Robert Humby in 2006, this term stands true in today’s competitive business environment. Data security is critical for the smooth functioning of day-to-day operations and running a business successfully.

Failure to protect your organization’s confidential data can:

  • Damage your brand’s value
  • Result in regulatory penalties
  • Shut down your business for good

The alarming rate at which cyberattacks are growing has forced organizations of all sizes to consider data security as a top priority.

Depending upon the purpose, type of industry, or geographical location, your business can implement security compliance frameworks and international standards, such as:

  • The National Institute of Standards and Technology (NIST)
  • The International Organization for Standardization (ISO)
  • Payment Card Industry Data Security Standard (PCI DSS)

These compliance frameworks provide guidance and best practices for information security. Each of the standards above were designed to help you:

  • Assess your IT security measures
  • Manage cyber risks and threats
  • Respond to security incidents
  • Improve your information security management system

Now that you’re familiar with both terms, let’s take an even closer look at the key differences between the two.

 

The Difference Between Data Privacy and Data Security

In simple terms, data privacy and data security are two sides of the same coin. They are separate concepts but are closely related.

Achieving data security doesn’t ensure data privacy and vice versa, but both are required to establish a comprehensive data protection strategy.

 

Knowing the difference between these terms will help you:

  • Strategize more effectively
  • Prevent data breaches
  • Stay legally compliant

Let’s distinguish the two concepts with a hypothetical example.

Assume you own a laptop, where you store personal information. To avoid people from accessing those files, you pasted a sticker on the cover that reads “Do Not Touch.” But in order to add an extra layer of privacy, in case people don’t read or ignore the sticker, you locked the computer with a secure password.

 

Do you know which is data privacy and which is data security?

There are two things to note here:

  1. The ‘Do Not Touch’ sticker tells people to keep away from your laptop, thereby authorizing your privacy.
  2. The password ensures no one can access your data, thereby protecting your data from unauthorized access.

As a result, the sticker represents your data privacy, while the password resembles your data security.

Are you ready to put both processes in place so your data is ultra-protected?

 

How to Achieve Data Privacy and Security While Being Legally Compliant

Achieving data privacy and data security and complying with several laws have their own set of challenges. Even large organizations struggle to understand and implement the right security management and compliance measures.

But that doesn’t need to be the case for your business.

Read on to find out how you can keep your data safe and compliant starting right now.

 

Team Up With IT Experts To Keep Your Data Safe & Compliant

While you may have a better understanding of data privacy and data security, it’s still best to team up with an IT expert. That way, you will ensure you’re protected and compliant.

Are you ready to join countless other businesses who are adapting to keep their data private and secure?

 

Improve Your Data Security With Third Power IT

Miami’s Most Trusted Managed IT Services

 

At Third Power IT, we have a robust team of IT Compliance & security experts you can trust to help you implement both of these important practices.

As the most trusted provider of managed IT services in South Florida, we are confident we can help you protect your data and remain compliant.

We know one size doesn’t fit all when it comes to cybersecurity, which is why we are happy to build custom packages to fit your unique needs.

Connect with us now at 844-677-3687 to start building your custom IT compliance & security package now.

Article curated and used by permission.

Data Sources:

The post Your Data Protection: A Closer Look At Data Privacy And Data Security – And Why You Need Both appeared first on Third Power IT – Managed IT Services.

Courtesy of Miami IHIPAA Compliance IT Company - ThirdPowerIT.com

12.28.20
by

IT Security: Why You Should Make Risk Management An Ongoing Operational Standard

Are you making IT security a top priority?

No business today is 100 percent secure from cyberthreats, and more businesses are waking up to this reality now than ever before.

It’s no wonder cybersecurity investment in 2020 is pegged to grow by 5.6 percent to reach nearly $43.1 billion in value.1 

With cyberattacks surging due to widespread remote work and increased online interactions during the pandemic, it seems likely that this trend will only continue to grow.

While 58 percent of IT leaders and practitioners consider improving IT security their topmost priority, nearly 53 percent of them find cybersecurity and data protection to be among their biggest challenges as well.2 

 

That’s primarily because cybersecurity is not a one-and-done exercise. 

While your business might be safe right now, it could be at risk the very next minute.

Are you doing enough to ensure your IT security?

Securing your business’s critical data and the data of your invaluable clients/customers requires undeterred effort sustained over a long period of time.

Although there are several pieces to this puzzle, the most important one, considering today’s threat landscape, is ongoing risk management.

Through the course of this blog, you will understand the definition of a cybersecurity risk assessment and why you must conduct and monitor them regularly.

Cybersecurity risk assessments will help you:

  • Understand the risks threatening your IT security
  • Take action to keep your cybersecurity strong
  • Steer clear of ever-evolving cyber threats
  • Prevent loss of data, productivity, and revenue

By the end of this article, we hope you realize how installing cybersecurity solutions alone isn’t enough to counter cyberattacks — unless you make ongoing risk management an operational standard for your business.

Keep reading to start understanding the importance of cybersecurity risk assessments right now.

 

Understanding The Importance Of Cybersecurity Risk Assessments

In general, a cybersecurity risk assessment refers to the act of understanding, managing, controlling and mitigating cybersecurity risks across your business’s infrastructure.

In its Cybersecurity Framework (CSF), the National Institute of Standards and Technology (NIST) states that the purpose of cybersecurity risk assessments is to “identify, estimate and prioritize risk to organizational operations, assets, individuals, other organizations and the Nation, resulting from the operation and use of information systems.”

 

The primary purpose of a cybersecurity risk assessment is to help key decision-makers tackle prevalent and imminent risks. 

Ideally, an assessment must answer the following questions:

IT Security Risk Assessment Questions

  • What are your business’s key IT assets?
  • What type of data breach would have a major impact on your business?
  • What are the relevant threats to your business and their sources?
  • What are the internal and external security vulnerabilities?
  • What would be the impact if any of the vulnerabilities were exploited?
  • What is the probability of a vulnerability being exploited?
  • What cyberattacks or security threats could impact your business’ ability to function?

The answers to these questions will help you keep track of security risks and mitigate them before disaster strikes.

Now, imagine periodically if you had the answers to these questions whenever you sat down to make key business decisions. If you’re wondering how it would benefit you, keep reading.

 

Why Make Ongoing Risk Management An Operational Standard?

Making ongoing risk management an operational standard is vital, especially in today’s cyberthreat landscape, where even a single threat can break your business.

In one assessment, your business might seem on the right track but in the next one, certain factors could show weaknesses in your cybersecurity framework.

That’s precisely why having an ongoing risk management strategy is now an integral part of standard operations for most successful businesses.

Are you ready to prioritize your cybersecurity and keep your business safe from cyber threats?

Here are seven reasons why you just can’t keep this key business decision on the backburner anymore:

 

7 Reasons To Make Risk Management An Operational Standard

Reason 1: Keep Threats At Bay

Most importantly, an ongoing risk management strategy will help you keep threats, both prevalent and imminent, at a safe distance from your business; especially ones you usually do not monitor regularly.

Reason 2: Prevent Data Loss

Theft or loss of business-critical data can set your business back a long way, leading you to lose business to your competitors. Ongoing risk management can help you remain vigilant of any possible attempts at compromising your business data.

Reason 3: Enhance Operational Efficiency And Reduce Workforce Frustration

As a business owner or key decision-maker of your organization, you would be amazed how consistently staying on top of potential cybersecurity threats can reduce the risk of unplanned downtime. The assurance that hard work will not vanish into thin air will keep the morale of your employees high, thereby reflecting positively on their productivity.

Reason 4: Reduce Long-Term Costs

Identifying potential vulnerabilities and mitigating them in time can help you prevent or reduce security incidents. This can save your business a significant amount of time, money and/or potential reputational damage.

Reason 5: Set The Right Tone And Plan For The Future

You must not assume that there should only be one fixed template for all your future cybersecurity risk assessments. However, in order to update them continuously, you need to conduct one in the first place. Hence, the first few assessments will set the right tone for future assessments as part of your ongoing risk management strategy.

Reason 6: Improve Organizational Knowledge

Knowing security vulnerabilities across the business will help you keep a keen eye on important aspects that your business must improve on.

Reason 7: Avoid Regulatory Compliance Issues

By ensuring that you put up a formidable defense against cyberthreats, you will automatically avoid hassles with respect to complying with regulatory standards such as HIPAA, GDPR, PCI DSS, etc.

Now that you know why risk management is an important operational standard, it’s time to start putting it in place — and fast.

Did you know? The Oxford Academic Journal of Cybersecurity estimates the costs of cyber events to total roughly $8.5 billion per year. 

 

Prevent Cyber Attacks Now – Join Hands With ThirdPower IT

The Best Cybersecurity Firm In South Florida

As you now know, cyber threats are increasing every day. Don’t get hit hard by a cyber attack. Ensure your cybersecurity now so your business can keep growing.

Don’t wait for a problem to take place — prevent hacks from happening by partnering with the most trusted IT firm in South Florida.

At ThirdPower IT, we’ll help you gauge every single cybersecurity risk your business is exposed to and protect your business continuously for a prolonged period of time.

 

Protect Your Business Now – Connect With ThirdPowerIT, a Miami Cybersecurity Company, Today

Connect with us today to find out how you can prevent cybersecurity problems from happening before they start.

 

Call us now at 844-677-3687, or visit ThirdPowerIT.com and learn more about how our IT Security services and chat with an IT security expert today.

 

Article curated and used by permission.

Data Sources:

  1. Global Cybersecurity 2020 Forecast Canalys
  2. 2020 State of IT Operations Survey, Kaseya
  3. Oxford Academic Journal of Cybersecurity

 

The post IT Security: Why You Should Make Risk Management An Ongoing Operational Standard appeared first on Third Power IT – Managed IT Services.

Courtesy of Miami IHIPAA Compliance IT Company - ThirdPowerIT.com