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Top 3 Data Security Measures

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The GoCardless content team comprises a group of subject-matter experts in multiple fields from across GoCardless. The authors and reviewers work in the sales, marketing, legal, and finance departments. All have in-depth knowledge and experience in various aspects of payment scheme technology and the operating rules applicable to each. The team holds expertise in the well-established payment schemes such as UK Direct Debit, the European SEPA scheme, and the US ACH scheme, as well as in schemes operating in Scandinavia, Australia, and New Zealand. See full bio

Last editedJuly 20222 min read

Data security is an incredibly important issue for businesses to get a handle on, with the ACSC claiming to have received over 67,500 cybercrime reports through the 2020-21 financial year, an increase of almost 13% from the previous year. Some of the results of data security breaches, such as ecommerce fraud, can have a significant effect on a business’s bottom line, as well as the health of their overall brand. As a result, it’s imperative that businesses implement strong security measures to keep their data safe and secure.

But it’s easy to get overwhelmed when you consider the range of threats facing your business, as well as the sheer variety of potential solutions. That’s why we’ve put together a list of simple, effective data security measures that you can use to boost your company’s security credentials.

What is a security measure?

Before we explore the best data security measures for your team to implement, it’s probably worth covering what it is we actually mean by the term “security measure”. So, what is a security measure? Essentially, a security measure is any type of security control that your business can implement to help provide a secure environment and manage data security risk more generally. This can cover a broad range of solutions, including the implementation of secure online payment methods and the usage of online payment fraud prevention, like address verification services. But beyond payments security, what about data security more generally? Read on to find out more.

Top 3 data security tips

So, without further ado, here are three of our best data security measures that businesses of all sizes should be able to set up with minimal fuss:

1. Establish a watertight data security code of conduct for your employees

Data security begins at home, which is why it’s important that you and your employees are on the same team when it comes to shared security practices. Create a short, simple code of conduct that your team needs to adhere to when using company IT equipment. This can include a broad range of simple solutions that can help keep your business safe, such as not leaving paperwork or laptops unattended, ensuring that you’re always using a secure device and Wi-Fi connection (especially relevant for remote workers), and being smart with basic cybersecurity hygiene (for example, not clicking on suspicious links or downloading unnecessary apps or files, maintaining strong passwords, and locking your screen when you’re away from your desk).

2. Make use of firewalls and antivirus software

It might sound simple, but firewalls and antivirus software is one of the best forms of defence against data security threats. There are a broad range of software packages for enterprise that you can make use of, so be sure to shop around and find the best option for your needs. In addition, remember that antivirus software is only effective if it’s up-to-date – that means you need to ensure it’s constantly updated. In many cases, the software will update itself, but it’s always a good idea to check that you’ve got the most recent version of the software on a regular basis, just to be on the safe side.

3. Implement two-factor authentication for all devices

Finally, you should be sure to set up two-factor authentication on every device owned by your business, as this will provide an extra layer of protection against data thieves. Two-factor authentication (or 2fa) is essentially a form of multi-factor authentication (MFA) which requires two methods (or authentication factors) to verify identity. Generally, the two methods include something you know (i.e., a password) and something you have (i.e., a smartphone app). This is an excellent way to up your data security game, and can be achieved with a minimum of effort on your part.

So, there you have it, three simple data security measures that you can implement with minimal fuss that can have an enormously beneficial effect on your business’s data security.

We can help

GoCardless is a global payments solution that helps you automate payment collection, cutting down on the amount of financial admin your team needs to deal with. Find out how GoCardless can help you with one-off or recurring payments.