You're venturing into new markets. How do you safeguard your data from security risks?

To protect data when expanding into new markets, businesses should assess risks, use encryption and access controls, leverage AI and ensure systems are updated. Compliance with local laws, employee training, incident response plans, 3rd party audits, secure cloud services and continuous monitoring are essential.

Conduct a thorough risk assessment before entering a new market. Identify the types of data you'll handle, understand specific threats in the new market, and evaluate your current data protection measures. Consider potential legal and compliance issues, such as differing data protection laws. A comprehensive risk assessment will help pinpoint vulnerabilities and prepare an effective data governance strategy to mitigate them.

Data mapping is crucial for protecting your data when entering new markets. It provides visibility into your data inventory, helping you apply appropriate safeguards and comply with regulations. Knowing where your data resides and how it flows ensures effective protection and regulatory adherence.

Developing robust data governance policies tailored to new markets is crucial for maintaining data security and compliance. Clear policies ensure data is handled securely and in accordance with local laws, while ongoing staff training reinforces these practices. Building a strong foundation of policies and training is key to safeguarding data integrity and fostering trust in new markets.

Implementing robust technical controls is essential in safeguarding data integrity and security, especially when entering new markets. Encryption, firewalls, and access controls help protect data from unauthorized access and cyber threats. Regular updates and patches further strengthen your defenses. By prioritizing these technical measures, businesses can ensure data remains secure and compliant with regulatory standards, building trust and reliability in new markets.

Creating an incident response plan begins with assembling a cross-functional team that includes IT, legal, compliance, and corporate comms. Start by identifying the most likely threat scenarios and begin to systematically work through how you would be notified of an issue, how a team would be assembled to develop a response. Incorporate regular training and simulations to ensure all team members are prepared to act swiftly and to develop/refine things like templates for notices to customers. Finally, include a process for post-incident analysis and reporting to learn from each event and continuously improve the response plan.