Modern businesses must transfer, maintain, and store vast amounts of data. This data can include things such as customer records, transaction details, and other critical documentation for business operations. It is also businesses' responsibility to protect this data as it goes through each step. Without adequate protection, sensitive data is vulnerable to interception, breach, and theft. When the data stored by a business is compromised, it is known as a data breach. These breaches are both stressful and costly to business owners worldwide, ruining their business's reputation and inviting lawsuits. For these reasons, it is ideal for businesses to encrypt their data, protecting it from prying eyes. Fortunately, encrypted data transport, maintenance, and storage methods can help businesses keep their data safe. If you'd like to learn more about why you should protect your business's data, read on below to learn how encrypted data transport can protect your business.
Encrypted Data Transport Can Prevent Lawsuits
Unencrypted data is a frequent cause of data theft. When customer data is compromised, business owners must take responsibility. Compromised credit cards and Social Security numbers can lead to various forms of crime, such as identity theft. If customers suffer from the consequences, they may file a lawsuit. In particular, class-action lawsuits can have devastating consequences for both your company's reputation and its finances. While it is not uncommon for businesses to offer customers protection such as credit card monitoring in the event of a data breach, the better option would be to prevent the data breach from occurring in the first place. Fortunately, by taking the time to incorporate secure data transport protocols, businesses can severely reduce the likelihood of such incidents occurring, protecting their business in the process.
Encrypted Data Transport Can Prevent Fines
Around the world, there are many government- and industry-regulated compliance requirements that businesses must meet when collecting, transporting, and storing customer data. These regulations include HIPAA, HITEC, PCI, SOX, GDPR, and more. If businesses fail to comply with these regulations, they can be subject to multimillion-dollar fines. Fortunately, encrypted data transport solutions grant businesses capabilities like security monitoring, auditing, reporting, and more. These abilities make navigating international compliance requirements easier for businesses, enabling businesses to avoid these costly fines and keep their business safe.
As business operations become more and more data-centric, data privacy practices must rise to meet the challenge. Fortunately, encrypted data transport solutions are available to help businesses secure their data while keeping their business and their customers safe!