Whether it’s a personal computer or a business server, data security remains a critical issue in today’s digital world. Data security, which is also known Information Security (IS) or Computer Security (CS) refers to protective digital privacy measures employed to prevent unauthorised access to computer, database, and website. It involves protecting the different form of data stored on a computer or server. With the Internet providing unprecedented access to the computers of others, data security has become more critical than ever. Data security is an essential aspect of Information technology (IT) for every organisation that aims to protect its data from the actions of unauthorised users, and also corruption.
Data security is a huge responsibility for every organization, especially those involves in online trading. There are various ways in which security can be compromised, allowing access to sensitive data to unauthorized users (hackers). Phishing, script kiddies, packet sniffing, IP spoofing, Trojan horse are various ways used by hackers to breach a firm’s security to obtain sensitive data. Data leak, whether intentional, unintentional or malicious can cause an organization to lose a lot of money and also the trust of their clients or partners.
The subject of protecting the almost limitless amount of data of people has become a significant concern to the government. Therefore, data security compliance requires particular attention to protect every customer, business reputation and also avoid hefty fines and penalties for non-compliance. Some laws and regulations protect data and its privacy, and demands that specific data is not compromised. PCI DSS, HIPAA, GDPR, SOX, Basel, and GLBA are the most common compliance requirements. These compliance requirements often address security and privacy, and are designed to help stay updated with every compliance information, strengthen organizational security and face compliance audits without fear.
- The Payment Card Industry Data Security Standard (PCI DSS) established in 2006 applies to organizations that use payment cards, including financial institutions, point-of-sale vendors, and developers who create a payment processing infrastructure. The PCI DSS ensures all credit card information is processed, transmitted and properly.
- Health Insurance Portability and Accountability Act (HIPAA) set standards to protect medical information with a series of data privacy and security provisions. It requires that any organization that deals with protected health information (PHI) must ensure all required physical, network, and process security measures comply with its guidelines.
- The General Data Protection Regulation (GDPR) was designed to protect the information of EU-based individuals and harmonize data privacy laws in the European Union. The GDPR will be active as from May 25, 2018; it is essential to put things in place to align with the GDPR compliance needs and avoid crippling fines.
Encryption is one of the most effective ways used by some organizations to secure data. Encryption is a process that converts plain text or any form of data from a readable form into a coded version that another entity can decode only if they have access to the decryption key. Data encryption is of two types: asymmetric encryption, and symmetric encryption. Data encryption is an essential element of any efficient computer security system, it allows complete security across all devices, safe transfer of data, and guarantee total integrity whenever a file is shared or accessed.
As a way of preserving digital information (either customer information, product information, employee information or company’s information), compliance is essential, and every organization must comply with legal, insurance and regulatory restrictions on how data is handled and transferred. One of the safest ways for a business to manage data and abide by the restrictions such business falls under is through data encryption. Compliance and data encryption combined forms a comprehensive security policy, the better an organization secures information, the more trust they get from customers. Besides data encryption and compliance, educating customers on online security is also essential.