Data security is one of the big issues for several industries nowadays. This issue made several companies lost a lot of money. Continuous cyber attacks contribute to the main problem of many companies and also the hackers keep on improving their skills to be able to launch a more sophisticated kind of attack. Talking about the affected industry, even government institutions are also taking steps on improving their security systems. Here are some of the important key points that the government should be aware of:
Cyber attacks are everywhere.
Bad guys don’t discriminate. But they have their favorite institutions to launch their attacks. It was recorded in one of the studies that almost 25% of the cyber -attacks were found in financial institutions. This includes the banks, credit unions. Healthcare and government are the second highest institutions that are being attacked.
The general public should always be notified.
The consumer should hold the responsibility of keeping themselves responsible for being up to date to every news that affects them. But It would be better if there is an automatic notification for all the consumers in case that there are attacks that were launch for them to avoid and tighten their security measures.
Banks must also notify the public in the event of a breach.
Financial institutions were protected by law in which they are allowed not to disclose any security breach. But to help the consumers to be more cautious about their habits, it is better that all financial institutions should notify the consumers automatically.
Retailers should improve data security.
The retail industry is one of the institutions being attacked by the hackers. Retailers spend millions on their data security to protect consumer information. They should enforce data encryption on every card that is used for payments on every transaction that took place.
Enhancing payment security would help to avoid data breaches.
Currently, banks are enforcing the EMV chip and signature cards to improve security for the consumers. Although it doesn’t stop the data hacking, at some point, it helps because these things are not applicable to online transactions. Criminals could get the numbers and be able to use certain cards for their bad motives.