With the increasing number of cyber-attacks, data breaches, and identity theft, the importance of protecting different types of sensitive data cannot be overemphasized. The need to protect financial data of clients (including bank account numbers, credit card information and other financial records) is well recognized with almost all businesses securing them.

Unfortunately, while businesses recognize the importance of protecting financial data of their clients, most overlook the importance of protecting other forms of client-related data. This can lead to significant security risks and potential legal and financial consequences.

So, what are the lesser-known forms of client data which organizations need to secure?

Employee Data

Employee data includes personal identifiable information, financial records, performance evaluations, and other sensitive information. Protecting this information is critical to maintaining the privacy and security of employees. Cybercriminals can use employee data to commit identity theft, access financial accounts, and even steal intellectual property.

Vendor and Partner Data

Vendor and partner data include sensitive information about vendors, partners, and suppliers. This information can include financial records, trade secrets, and other proprietary information. Protecting this information is essential to maintaining business relationships and preventing intellectual property theft and other security incidents.

Intellectual Property

Intellectual property includes patents, trademarks, copyrights, and other proprietary information. Protecting this information is critical to maintaining a competitive advantage and preventing intellectual property theft. Cybercriminals can use this information to create counterfeit products, sell proprietary information to competitors, and even launch legal disputes.

Sales and Marketing Data

Sales and marketing data includes customer data, sales records, and marketing campaigns. Protecting this information is essential to maintaining customer trust, preventing data breaches, and maintaining a competitive advantage. Cybercriminals can use this information to target customers with phishing attacks, steal sales records and other sensitive information.

Patient and Personal Health-related Data

Health information, also known as Protected Health Information (PHI), is any information that can identify an individual's health condition, medical history, or treatment. This information is protected under the Health Insurance Portability and Accountability Act (HIPAA). Protecting this information is crucial because it can lead to medical identity theft, insurance fraud, and even jeopardize the health of the individual if the information is used for malicious purposes.

Personal Identifiable Information (PII)

Personal Identifiable Information (PII) is any information that can be used to identify an individual. This information includes but is not limited to name, social security number, date of birth, address, phone number, and email address. Protecting this information is essential because it can be used to commit identity theft, financial fraud, or even blackmail. Cybercriminals can use this information to create fake identities, apply for credit cards, loans, and access bank accounts.

Business Information

Business information includes confidential company data, financial reports, trade secrets, intellectual property, and other proprietary information. This information is critical to the success of your client's business, and any unauthorized access to it can lead to significant losses, legal disputes, and reputational damage. Protecting this information is essential to ensure that your clients can operate efficiently and maintain their competitive advantage.

Need to Secure Data Goes Beyond Legal Compliance

While regulations such as CCPA, HIPAA, PCI DSS and GDPR emphasize legal and financial implications related with failure to safeguard client-related data, businesses will do well to look beyond ‘regulations’ as a catalyst to start protecting critical and sensitive data.

Prioritizing data protection ensures a high degree of customer trust (and thus loyalty!), reduction in technical and operational downtime (thus reducing costs!), improving operational efficiency and gaining a critical edge in an intensely competitive market!

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