Not all that long ago, C-suite data security was a matter of physical file storage, literal locks and keys, and a few strongly-worded NDAs. Over the past few decades, however, that has changed dramatically. Although data security is a matter of concern at all levels of a company, top executives tend to be the most vulnerable targets of data breaches and fraud, simply due to the sensitivity of information that they are privy to. Obtaining an executive’s personal information is generally the first step in this process. Dimitri Shelest, of Chief Executive Magazine, has published a new article on how vulnerable C-suite personal data might be, and also how to go about protecting this information to avoid a larger company-wide data breach down the road.
These days, the data stored by companies isn’t as simple as names and addresses. Companies store browsing histories, purchase histories, political affiliations, contacts, and even biometrics. While all of this data is gathered and stored legally, the amount and details that each of us offers up to private companies is staggering. Most of this data can be sold to anyone willing to pay for it, with no need for a background check or authentication of any kind. Whether the threat comes in the form of personal information being published on social media (as happened after the 2020 election, in which CEOs of voting machine manufacturers saw their personal information published online, leading to death threats aimed at them and their families), or through “phishing” or “whaling” attacks on companies (as happened to a Mattel financial exec who wired $3 million to a fraudster posing as the company’s CEO), targeted attacks can come from all sides.
So what steps do execs need to take to protect themselves and their companies? Well, as is the case with many things, says Shelest, the first step is education. Knowing that they are high-value targets and the threats to look for is the easiest and best way to stop fraud before it starts. After that, Shelest recommends laying low on social media (at least personal accounts), using separate email addresses for highly sensitive information, maintaining strong passwords, and removing oneself from websites that publish people searches. Luckily, in this age of on-demand help, there are companies that can be hired to remove personal information from the internet. For an unbiased list of companies and reviews, click here. All in all, protecting personal data is a must, and especially for C-suite execs. Check out the Shelest article for a full read and make sure you’re doing all you can to protect yourself and your business.