What Is Digital Security, and Why Should It Be on Your Radar?

As per our 2022 SMB Tech Trends Survey*, security concerns are one of the top three obstacles SMBs face when investing in new technology. These threats are evolving rapidly, making it more important than ever for small-business owners to focus on digital security.

Digital security is all about safeguarding the online presence of your small business, including your data, identity, and digital assets, against digital threats such as data breaches. This article covers everything about digital security—from what it is to how it benefits your small business.

We also spoke with Brandon King [1], the founder of Home Security Heroes, who shares tips for small-business owners who recognize the importance of digital security but aren't quite sure where to start.

Digital security refers to the various steps your small business takes to protect its privacy, identity, and information online. It’s similar to locking the door to protect your home from intruders—but online.

Digital security involves safeguarding your business data, online accounts, and online presence from cybercriminals using various tools and technologies such as data encryption and authentication.

People often confuse digital security with cybersecurity due to their overlapping functions, but digital security is a subset of cybersecurity. Cybersecurity is a broader concept that goes beyond digital information security by also protecting your business’s IT infrastructure, computer networks, cloud ecosystem, and other digital components from cybersecurity threats.

To understand the purpose of digital security, it's important to be aware of the types of data hackers usually target:

1. Financial data 

This type of data includes anything related to financial transactions, such as credit and debit card numbers, card expiry dates, card verification value (CVV) numbers, online banking data (e.g., account and routing numbers), and personal identification numbers (PINs). Hackers are always looking to get their hands on your business’s financial data to make fraudulent purchases or set up fake accounts.

Tips to secure your financial data:

• Use a strong, unique password for all financial accounts—more than eight characters and a mix of upper and lowercase letters, numbers, and special characters. Don’t use words or phrases that can be easily guessed. Try password management software to streamline this process.

• Enable biometric authentication on your financial accounts for additional security. Fingerprint or face scans on mobile devices and online accounts will make it difficult for hackers to breach your accounts.

2. Identification data

This includes any personal information that can be used to identify your small business, such as its name, office address, phone number, email account, IP address, and social security number (SSN). 

Hackers can use this information for identity theft and social engineering scams (fraud via manipulation of unsuspecting users or impersonation of trusted officials). They can also use your SSN to open credit card accounts in your business’s name, which could be a huge problem if they ruin your credit score.

Tips to secure your identification data:

• Enable multi-factor authentication (MFA) on your business accounts to add an extra layer of security to traditional password-based methods. MFA requires a second security element such as a text message, personal question, or phone call to verify user identity.

• Train your employees to recognize phishing scams and avoid clicking on links or opening attachments from unknown sources. Phishing is a cybercrime in which hackers attempt to gain unauthorized access to your sensitive information by posing as a trustworthy entity online. Phishing emails are often used to steal identification data.

3. Health data

This type of data includes your and your employees’ healthcare information, such as medical history, health insurance subscriptions, and visits to doctor's offices or hospitals. It also covers the employee data you collect to run wellness programs, such as total step count and hours of sleep.

Hackers can use this data to commit various crimes—impersonate patients for Medicare benefits, file false insurance claims, obtain and resell prescription medications, and more. The personal data available in healthcare records can also be used for identity thefts to get loans or credit cards in the victims’ names.

Tips to secure your health data:

• Regularly back up healthcare data and store it in a secure location that’s encrypted and password protected like your online storage drives. 

• Be sure to install an antivirus on your business devices, and regularly update the operating system with the latest security patches from the manufacturer. Consumer electronics brand Apple regularly releases new software updates to secure its customers’ health-related data [2].

Findings from recent GetApp surveys highlight the three most common digital security mistakes businesses make and the impact they can have on small businesses.

1. You use the same passwords for multiple online accounts

According to our 2022 Data Security Survey**, 59% of businesses use the same password for multiple online accounts. This could be a security risk because if one account is breached, all accounts using the same password will become vulnerable. Ensure you use unique and complex passwords for each account. And if remembering passwords feels like a hassle, then password management software would be your best bet.

2. You use your personal mobile device for work-related activity

Our 2022 SMS Scams Survey*** found that 85% of employees use their personal mobile devices for work-related activity. Employees using personal devices for work purposes could put your business data at risk. Therefore, establish strong security controls and protocols for personal devices, such as installing antivirus software to scan, detect, and block malicious files present on a personal device.

3. You click unverified links in emails

In our 2022 Ransomware Survey****, 56% of small-business owners reported that a malicious attachment in a phishing email they opened was the origin of the ransomware attack on their business. This highlights the importance of digital security training to identify and avoid ransomware scams.

As a decision-maker, introduce a formal security training and awareness program. Regularly update the program with new content so your employees stay up to date with the new tactics hackers use for ransomware attacks and their potential consequences. We recommend security awareness training software to monitor and manage your training program. 

Furthermore, make sure your data backups are regularly updated and stored in a secure location. If a ransomware attack occurs, having recent backups helps restore your data without needing to pay a ransom.

Brandon King, founder and CEO of Home Security Heroes

If followed correctly, digital security establishes three security pillars for your business: confidentiality, integrity, and availability (CIA). 

• C: The “confidentiality” digital security brings helps your small business protect sensitive data, such as trade secrets or customer information, from falling into the wrong hands.

• I: The “integrity” digital security establishes ensures your company data is not tampered with, which is crucial as your team relies on accurate data to make decisions.

• A: The “availability” digital security ensures guarantees your business data is accessible only to those who need it, which is vital to protect your business’s online presence from unauthorized entities.

Remember, it's not a question of “if” but “when” you’ll be targeted by online criminals, so it's best to be prepared. By prioritizing digital information security, you can ensure the continued success of your small business in a fast-growing digital age.