Security awareness + staff training = risk reduction
When you don’t train your staff on security awareness and cybersecurity issues, they’ll struggle to understand and appreciate the very real threats they face when they handle data and engage in online activities. Training can mitigate risky behavior by teaching the best practices for avoiding attacks, protecting your business, and ensuring that your customers’ personal information is handled in the most secure manner possible.
Why is this important? Research has found that 90% of cyberattacks involve human, not computer or software, error. Thankfully, human error can be reduced when your staff understands how they can help identify and prevent them. In other words, demystifying security by turning it into something that is real and actionable has a huge impact!
Data breaches cost a lot more than training
Data breaches pose a major risk to your company, no matter your size or industry. The average cost of a data breach is $3.92 million. Fines, fees, and legal action are part of this cost but most of it stems from the loss of business, which can last well beyond the initial impact and cleanup. According to data from 2019, 67% of costs associated with data breaches occurred in the first year, but 22% followed in the next year, and 11% the year after.
Even more costly are the reputational losses that you’ll suffer from a data breach. Your customers’ trust and your standing in your industry is something that is even harder to recoup than hard dollars.
What do you cover in privacy awareness training?
While getting down into the nitty-gritty of regulations has value for teams, it’s also important to cover big picture issues. That’s one of the big benefits of privacy awareness training – it allows your team to understand all the different ways privacy impacts their work, their personal lives, and others around them. Some of the topics that can be addressed in a privacy training program include (but aren’t limited to):
- Overview of privacy laws like General Data Protection Regulation (GDPR), California Consumer Privacy Act (CCPA), and Gramm-Leach-Bliley Act (GLBA)
- What is personal information?
- What do laws and regulations require?
- Vendor management
- Privacy risk assessment: what is it and when do you need one?
- Individual rights processes
- Best practices for data protection and management
- Software patches and computer updates
- Social engineering
- Identity theft
- Email scams
- Safety practices like password protection, safe browsing, and more
- Incident reporting