As the digital world is becoming more interconnected, customer data security is vital to building trust with customers. Consumers expect their businesses to safeguard and protect their personal information, and businesses that excel at this will have an edge over those who do not. This article will explore ten fundamental concepts that every business must learn and implement in order to ensure the security of customer data.
Personal information is the most basic kind of customer data. It is any information that can be used to identify an individual. This includes names, addresses, phone numbers, and more. There are even more sensitive data types that could be a serious risk should they fall into wrong hands. For instance an example is a Social Security Number or credit card number. SPI also covers racial and ethnic origin, sexual preference, and other sensitive personal data.
SPI is a tool that can be used to commit identity theft, which is an enormous threat to customers’ financial and personal health. If a hacker obtains this type of information they may utilize it to apply for credit cards or loans that are in the name of the victim and can end up with devastating effects.
To minimize the risk that data breaches will be a possibility, companies should limit the amount of SPI they collect, and only use the data for legitimate purposes. They should also implement encryption on their servers as well as in transit to make sure that the data is not read by hackers. Furthermore, they should utilize password management tools and two-factor authentication in order to reduce the chance of data breaches due to compromised passwords.
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