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Data security is a set of strategies, tactics and best practices that can reduce the risk of a data breach or exposure.

Poor data security can cost a lot. Not only will result in loss of revenue and reputational harm, but it may also cost a company time and resources to investigate and recover from the incident.

Cyberattackers can use the data that you keep to steal personal data about your customers, or expose confidential business records, or corrupted data. They also can extort cash by encrypting documents and requesting fees to restore access. This can cripple your ability to offer services and can result in legal action and loss of revenue.

In addition to the obvious business and financial implications, a breach of data can be costly in terms of penalties for regulatory violations. In the case of financial companies, for instance, they may be subject to regulations and laws such as the Payment https://myhomedataroom.com/business-environment-with-secure-data-room/ Card Industry Data Security Standard (PCI DSS).

No matter if your data is stored in a database or in use it is vital to have strong data security measures in place. This could include access control — giving only those users who require it the right level of access privileges as well as authentication and encryption to assure that the person is the person they claim to be. It is also important to have a solid backup of the data that can be used in the event of a system malfunction or natural disaster. It is crucial to have systems in place for removing out old and useless data regularly.