Don’t Tempt Fate! Protect Your Data on World Backup Day

Data loss can strike at any time, and the cost of recovery will be high—unless you have a recent, usable backup. Take the first step to protect your data and valuable information by following the 5 Ws of backing up data—the who, what, where, when and why—on World Backup Day, March 31, 2019.

data backup day infographic from CyberScout

Why you should back up

Let’s begin with why. Backup copies are a form of insurance against a devastating data loss that can be caused by hardware failure, human error, cyber attacks and natural disasters. Consider these alarming statistics: Data attacks are on the rise for small and medium-size businesses (SMBs)—and they’re most costly.(1) Sixty-one percent of SMBs fall victim to cyber attacks and the average cost of an attack due to disruption of normal operations is about $1.2 million.(2)

Who should back up

Everyone needs to back up. Yet many families and SMBs claim they do not adequately backup their information. According to a survey, 24 percent of people never back up their PC and another 17 percent haven’t backed up in more than one year.(3)

“Backing up your home computer files is a safe and effective way to guard against all of your files from being lost whether due to fraud, a virus, or some other means. By considering how much you use your computer and how long you’ve had your computer (as some files you may have long forgotten about), backing up your files regularly protects information that may be irreplaceable,” advises Eric Russell, Fraud Analyst at Diamond Credit Union.

What to back up

Back up data that is difficult and time-consuming to recreate or recover. For personal data, this includes:

  • Personal identification documents. such as copies of a driver’s license or a passport
  • Educational and employment records, including awards, promotions, commendations
  • Medical records, especially paper records
  • Passwords and contact lists
  • Photos, video, or music files—including what is on phones and computers.

Businesses should back up operational, financial and customer information, including:

  • Accounting databases, including AR and AP records
  • Financial management reports
  • Payroll records and employee files
  • Point-of-sale and transaction history
  • Customer records and CRM database
  • Fixed asset inventory, photos and preventative maintenance logs
  • R&D, blueprints, and proprietary information
  • And more.

When to back up

Back up on a regular schedule. To determine frequency, think about how much data you create on a daily, weekly and monthly basis. Then decide how much you could afford to lose should disaster strike when you are between scheduled backups. Restored data is only as good as your most recent backup.

For a family, backing up several times each year may be sufficient. If you take a lot of photos or work from home as a contractor or creative professional, consider backing up more frequently. Most businesses would benefit from an automated system for daily or weekly backups.

Where to store backups

Once you have decided on a regular backup schedule, follow the 3-2-1 rule for backing up.(4)

  • Make at least three copies of your files and information.
  • Create those backups on two different types of storage media—including USB drives, external hard drives, tape backups, or cloud storage.
  • Keep at least one copy of your backup offsite, either in the cloud or safely in another building, a safe deposit box, or at another business location.

Diamond Credit Union has partnered with CyberScout to offer comprehensive identity management services. If you detect suspicious activity or would like to proactively protect your identity, contact us at 610-326-5490 to be connected to a CyberScout fraud expert.

MORE IDENTITY PROTECTION TIPS

(1)“State of Cybersecurity in Small and Medium-Size Businesses,” Ponemon Institute, 2017.
(2)Ibid.
(3)“Computer Backup Awareness in 2018: Getting Better and Getting Worse,” June 21, 2018.
(4)“The DAM Book: Digital Asset Management for Photographers, 2nd Edition,” p. 207, O’Reilly Media, 2009, https://bit.ly/2CEF6Rt.


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diamond university logoThis article is part of Diamond’s ongoing financial education program.


The views, opinions, and ideas articulated in this blog are just that, and should not be construed as financial or legal advice. The writers of these blogs are educated on the topics they are writing about, but they are in no way licensed financial advisors or registered investment advisors. Diamond Credit Union is not responsible for any actions a person may take as a result of the information they read in one of our blogs.