Cloud DLP solutions, like Strac, provide unparalleled visibility and control into an organization's data while mitigating fraudulent activity.

Data loss can be a nightmare, costing businesses valuable time and money. Losing crucial data means losing countless hours of hard work, critical data, and ultimately client trust. Data breaches are an unfortunate reality of our digital world and are increasingly common. 

According to Statista, the average cost of a data breach globally in 2022 was $4.35 million, a 2.6% increase from 2021. Protecting sensitive information has never been more crucial in today's interconnected society. 

What is Data Loss Prevention(DLP)?

DLP is the practice of detecting and preventing unauthorized access to sensitive data within and outside a network. DLP security solutions are more than just data storage and retention policies. They help organizations maintain regulatory compliance. DLP solutions promptly respond to breaches or security incidents with alerts, encryption, and data isolation capabilities. DLP software accelerate incident response by identifying threats and anomalous activity during routine monitoring. 

Moreover, they ensure compliance with regulations like HIPAA and GDPR. A comprehensive DLP system provides complete insight into all network data, whether in use, motion, or rest. 

Why is Data Loss Prevention important?

Data loss can severely affect businesses, including hefty fines and potential criminal penalties. Moreover, it can significantly harm an organization's reputation and lead to its downfall. In fact, according to a survey conducted by Zogby Analytics in 2019, 10% of small businesses ceased operations after experiencing a data exfiltration, while 25% filed for bankruptcy and 37% suffered significant financial losses.

As companies increasingly adopt remote work and rely on cloud-based infrastructure, having a robust DLP (Data Loss Prevention) solution has become essential to their risk reduction strategy. A DLP software offers comprehensive protection for sensitive data by addressing both physical and digital security threats and preventing unauthorized access or information misuse.

What is data loss prevention software?

Data loss prevention software is a security tool designed to monitor, detect, and prevent unauthorized access and transmission of sensitive data. It works by classifying and protecting critical information, thereby ensuring that data does not exit the network without proper authorization.

Here is how a DLP software safeguards confidential data:

• The True Cost of Compliance with Data Protection Regulations study, sponsored by Globalscape, reveals that the average cost of non-compliance can range from $14 million to $40 million. A (DLP)data loss prevention solution strengthens compliance with current security policies by detecting network violations and unauthorized user activity. 
• Reducing the risk of data breaches and loss, cutting down the costs involved. According to IBM, the cost of a data breach reached USD 4.35 million in 2022, an increase of 2.6% from 2021. Data leak prevention(DLP) solution integration can automatically detect or restrict unauthorized actions, reducing the risk of data leaks and improving compliance.
• Boosting enterprise-wide data transparency with 360-degree network and endpoint visibility. DLP tools can boost visibility, enabling businesses to understand sensitive data movement in-depth.
• Minimizing the possibility of reputational damage by preventing and responding swiftly to data leaks. According to Cybersecurity Ventures, the projected annual cost of cybercrime is expected to reach $10.5 trillion by 2025. DLP strategy enable businesses to quickly detect and respond to potential breaches, reducing the extent of damage that can be caused.
• According to Ocean Tomo's Intangible Asset Market Value Study, the proportion of intangible assets increased significantly from 17% to 84% between 1975 and 2015. The COVID-19 pandemic has further accelerated this trend, with intangible assets now accounting for 90% of the market value of the S&P 500 making data more vulnerable to cyberattacks. A DLP solution can classify and store sensitive and business-data efficiently to protect your data. 
• 74% of data breaches included the human element - social engineering, errors or misuse, according to the 2023 Verizon Data Breach Investigations Report. DLP integration is required to automatically flag such unauthorized activities, mitigate internal threats, analyze user and entity behavior, and identify advanced security risks.

Why and when do I need data loss prevention software?

DLP software is essential for businesses to ensure the security of sensitive information and compliance with regulatory requirements. It helps protect a company's most valuable data from internal and external threats. Here are a few requirements that justify DLP:

1. Regulatory Compliance

Regulations mandate that industries such as healthcare, finance, and government contracting secure sensitive personal data effectively. Organizations must comply with regulations like:

• HIPAA (Health Insurance Portability and Accountability Act)
• PCI DSS (Payment Card Information Data Security Standard)
• GDPR (General Data Protection Regulation)
• PIPEDA (Personal Information Protection and Electronic Documents Act)
• CCPA (California Consumer Privacy Act)

DLP ensures compliance with these regulations regardless of whether data is stored on local endpoints or managed through SaaS platforms.

2. Protection of Confidential Information

DLP software protects internal business secrets and intellectual property, such as project plans and proprietary code. It helps prevent data breaches coming from insider actions and intentional external attacks.

3. Prevention of Data Exfiltration and Leaks

Implementing DLP is critical in environments with a risk of data exfiltration or accidental leaks. It provides tools to monitor and control data flows so that sensitive information only leaves the network under proper supervision.

Benefits of (DLP )Data Leak Prevention Solution

Below are the benefits of implementing a DLP security solution:

1. Reduce the risk of security incidents

Investing in DLP adoption is wise for companies looking to reduce the risk of data loss. Organizations gain complete visibility into the information being accessed, providing them with an added layer of protection. Thanks to DLP solutions, businesses can effectively protect themselves from ransomware attacks, prevent data theft, unauthorized sharing of documents, and combat phishing attempts.

2. Categorize sensitive data

Your company can readily detect breaches and protect sensitive data if it has a complete picture of the data movement throughout the cycle. You can establish a compliant data policy that guarantees the safety of critical information using DLP'S data categorization. 

3. Prevent suspicious activity

DLP systems can identify and prevent unauthorized activity on your network thanks to their sophisticated scanning abilities. DLP guarantees that sensitive information stays protected inside the bounds of your network, whether it is sent by email, copied to external devices, or any other means.

4. Classify data automatically

Automatic classification is a process that collects important details about a document, such as its creation date, storage location, and sharing methods. This information is used to enhance the accuracy and effectiveness of data classification within your organization. A DLP solution utilizes this information to effectively implement your DLP policy, thereby reducing the risk of unauthorized sharing of sensitive data.

5. Adhere to regulatory compliance

Complying with data protection regulations such as HIPAA, the Sarbanes-Oxley Act (SOX), and the Federal Information Security Management Act (FISMA) is critical. Adopting a DLP solution gives you access to extensive reporting features that simplify compliance audits, reducing noncompliance risks and penalties.

6.Monitor data access and user activity

DLP solutions are designed to monitor data access and usage to mitigate threats effectively. It ensures that only those with permission can access sensitive information and keeps track of their activities. 

DLP mitigates the risks associated with insider breaches and fraudulent activities by effectively managing the digital identities of employees, vendors, and partners within the network. Role-based access control (RBAC) is one approach that guarantees only authorized users have access to sensitive information.

7.Improve visibility and control

DLP solutions provide unparalleled visibility into your organization's critical data while identifying fraudulent activity. As organizations transition to cloud computing, maintaining visibility over sensitive information becomes challenging, demanding a cloud DLP solution. 

Strac, a  cloud DLP solution, automatically detects and redacts (masks) sensitive data (images, text, audio, video) from all Cloud and SaaS apps (email, slack, zendesk, intercom, AWS services, Google Drive, One Drive, ChatGPT, and more).

You get to choose the degree of confidentiality for each record and can also set up automatic responses for security incidents. You can further configure in-depth data and content analysis evaluating both present and future risks bolstering cybersecurity and DLP initiatives. 

8.Prevent insider attack

When it comes to protecting data within an organization, DLP security solutions shine due to their ability to classify and constantly monitor critical data. They dramatically boost your data security by identifying and blocking suspicious and illegal activity.

Types of data loss prevention

Various DLP strategies are employed to protect data at different stages and locations within an organization:

• Data Identification: This involves scanning and cataloging sensitive information within an organization’s network. It includes emails, cloud storage, and collaboration tools to ensure that only authorized personnel can access critical data.
• Data Leak Identification: DLP utilizes automation to detect and pinpoint unauthorized data movements or exposures within the organization’s infrastructure, allowing for rapid remediation.
• Data-in-Motion: DLP protects data as it travels between network points or locations through encryption and other security protocols to ensure data integrity and privacy.
• Data-at-Rest: This protection applies to data stored on physical devices or cloud environments. It includes encryption, access controls, and other security measures to prevent unauthorized access or alterations to stored data.
• Data-in-Use: DLP ensures that data accessed or manipulated by users is not misused. Protection mechanisms include controls over data handling activities like copying, editing, printing, and monitoring to detect suspicious user behaviors.

8 Data Loss Prevention Best Practices

Given the complexity of the threat environment and the magnitude of business networks, implementing a Data Loss Prevention (DLP) strategy is no easy feat.

Below best practices can help you maximize your investment in DLP tools . 

1. Data classification and inventory
2. Define policies and procedures
3. Limit access and implement Principle of Least Privilege (PoLP)
4. Encrypt sensitive data
5. Regularly monitor and audit data movements
6. Employee training and awareness
7. Test and update your DLP solution regularly
8. Incident response plan

1. Data classification and inventory

Prioritize the data you need to protect. Understand the different categories of data in your organization like PII (Personally identifiable information), PHI(Protected Health Information), PCI( Payment Card Industry )data and classify them based on their sensitivity levels. An accurate data inventory is the foundation for effective data loss prevention.‍

2. Define policies and procedures

‍Develop clear DLP policies and procedures based on the type of data you have, its sensitivity, and applicable compliance regulations. This includes identifying who has access to what data, under what circumstances data can be transferred or shared, and what to do in case of a potential breach.‍

3. Limit access and implement Principle of Least Privilege (PoLP)

Restrict access to sensitive data and implement the principle of least privilege, granting employees access to only the information necessary for their role. This reduces the risk of data exposure from the inside.‍

4. Encrypt sensitive data

‍Always encrypt sensitive data both in transit and at rest. In the event of a breach, encryption can render the data useless to unauthorized individuals.‍

5. Regularly monitor and audit data movements

Use your DLP solution to continuously monitor and log all data movements within your network. Regular audits of these logs can help identify potential threats before they cause damage.‍

6. Employee training and awareness

‍Conduct regular DLP training and make sure all employees understand the importance of data security. Often, data breaches are the result of ignorance rather than malicious intent.‍

7. Test and update your DLP solution regularly

Regular testing and updating of your DLP system can help you keep up with evolving security threats. It also helps to ensure that your DLP system remains compatible with other systems in your IT infrastructure.‍

8. Incident response plan

‍Have a well-defined incident response plan in place. In the event of a data breach, your team should know exactly what steps to take. This includes how to isolate affected systems, how to investigate the breach, how to communicate the breach to stakeholders and authorities, and how to prevent similar breaches in the future.

9. Secure your Data with DLP Solution

To help you choose among many DLP vendors for your organization, answer these questions first

• Are you looking for a deployment solution offering various architecture options? What about managed services? 
• Are you more concerned with defending against internal, external, or both threats? 
• Do you require content or context-based inspection and classification? 
• Is your priority protecting structured or unstructured data? 
• Will you need to enforce security measures based on policies, events, or users?
• What is the state of your current security infrastructure? What technologies do you wish to integrate with the DLP solution?
• What is your preferred timeline for deploying a DLP solution?
• Do you need to onboard more employees to manage your DLP program? Do you have an employment training program in place?

Data Loss prevention for SaaS

DLP helps Software-as-a-Service (SaaS) platforms improve security by automatically identifying and protecting sensitive data. Key benefits include:

• Ease of Integration: A modern DLP solution is designed for seamless integration, often requiring minimal to no coding.
• Automated Data Identification: It automatically detects sensitive data being shared or processed within the SaaS environment.
• Policy Management: It provides frameworks for defining and enforcing data security policies, simplifying SaaS data protection management.

Data loss prevention for endpoints

Endpoint DLP focuses on protecting data at the device level, including laptops, desktops, and mobile devices. Essential features include content inspection and contextual analysis to identify and control sensitive data effectively. Encryption, device control, and user behavior monitoring are critical to prevent data leaks through various transfer methods, such as USB drives.

Data loss prevention for Generative AI

DLP for Generative AI addresses the challenges posed by AI platforms, especially around data training and output. Its key functionalities include monitoring and controlling the input data used for training AI models and the output generated by these models. It ensures the integrity and confidentiality of training datasets and real-time monitoring of AI activities to prevent data theft.

Ensure Compliance and Streamline Data Protection Seamlessly with Strac DLP 

Strac offers a quick and easy solution to ensure your organization has the right compliance measures in place for audits. Our DLP solution helps you meet compliance requirements efficiently by automating daily tasks and streamlining data protection processes. 

With Strac's redaction experience, you can easily block sensitive customer data such as,

• PII (Personally Identifiable Information)
• PHI (Protected Health Information)
• PCI (Payment Card Industry) information. 

Strac's DLP solutions are designed to provide comprehensive data protection across SaaS applications, endpoint devices, and generative AI platforms. By leveraging advanced AI and ML technologies, Strac offers:

• Integration with Popular SaaS Applications: The platform integrates with widely used SaaS applications, including Slack, Zendesk, Salesforce, Google Workspace, and Microsoft 365. This integration helps protect sensitive data within these platforms.

• Endpoint Security: It extends the DLP capabilities to endpoint devices, including Mac and Windows systems.
• Generative AI Security: Strac's solutions are designed to secure data interactions with generative AI platforms like ChatGPT and Gemini. This includes detecting and redacting sensitive data in AI prompts and responses.
• Proactive Data Protection: This includes continuous monitoring, automated detection, and real-time response to potential data breaches.
• Regulatory Compliance: It ensures compliance with major data protection regulations such as GDPR, HIPAA, and CCPA.

This ensures that your organization remains compliant while keeping sensitive data secure. Strac's audit reports give 100% visibility and control over data, providing detailed insights into your data usage, allowing you to monitor and manage it effectively.

Read more on Data Loss Prevention in Cloud and SaaS

• Gmail Data loss Prevention Guide
• How to create a DLP Policy?
• How to secure Slack?
• ChatGPT DLP