How do you manage confidential information?

Threat modeling can help here; ask yourself what would happen if we lost access, this information got corrupted, or this information leaked outside the organization or group. Try to imagine how these events could happen; don't worry about covering all the scenarios; you have to start somewhere. There are no wrong or dumb scenarios, just unlikely ones, and you can discard those if they do not keep you up at night.

Identifying confidential information is a vital aspect of data governance and protection. Using a matrix to classify data based on sensitivity, value, and risk is a practical approach, often revealing that sensitive data is more abundant than initially thought. However, the devil is in the details, as seemingly innocuous data elements can become sensitive in specific contexts. Therefore, maintaining a comprehensive inventory that documents data sources, locations, and owners is crucial.

Start by clearly defining what constitutes confidential information within your specific context. Establish proper access controls that make information accessible on a need-to--have basis, that way, only individuals who need the information have access to it. Use Non-Disclosure Agreements (NDAs) when sharing sensitive information with external parties. Train employees on the importance of confidentiality and security measures. Implement secure data storage and encryption protocols, and regularly update them to stay ahead of emerging threats. Create an incident response plan to address breaches if they occur and cultivate a culture of discretion and responsibility at all levels of the organisation.

Protection by deterrence does not always work. If the counterparty does not care about the consequences or is able to hide their actions, no contract or NDA will protect the confidential information. Compensate by adding tracking controls, if you share digital information, it is possible to embed unique markers to identify the source of a leak, setting up digital rights management can help with access controls and give you control of what can be done with the documents you share.

Using non-disclosure agreements (NDAs) and contracts is a vital step in safeguarding confidential information. NDAs legally bind parties to maintain confidentiality when sharing sensitive data, while contracts define the terms of a business relationship. However, it's crucial to seek legal advice to ensure these documents suit your specific needs and expectations, preventing future disputes.

Implementing solid security measures is a must to keep your confidential info safe. Use encryption, strong passwords, firewalls, antivirus tools, and backups to shield your digital data. Lock up physical files, gadgets, and offices, and control who can get in. Teach your team, partners, and contractors how to handle sensitive info, and keep an eye on them to make sure they follow the rules. Also, have a plan for when things go wrong, like a security breach. These steps not only protect your data but also show your commitment to keeping things shipshape.

Anyone who ever attempted it knows what a difficult endeavour it is to develop and shape such a vital part of company culture like security and privacy awareness. Important note - don't falter, don't give up, persevere! There is no one-size-fits-all approach in information security. Security is, and forever will be, something you best implement by design. Education and awareness raising are tailored from the inception to the company needs, ambiance, general corporate culture, and - most important of all - employees. Identify groups dealing with highly sensitive information. Create dedicated sets of programs for different groups and departments. Focus on preventive steps, strengthening vigilance and enhancing resilience.

Educating your team and fostering a culture of confidentiality is crucial. Share your vision, mission, and the importance of confidential data. Explain the risks and consequences, build trust, and reward good practices. It's the foundation of robust data governance.

It's essential to regularly review and update your information to ensure that it remains relevant and aligned with your business goals. This process helps you stay informed about changes in your business environment and adapt accordingly. Monitoring factors like competitors, customers, regulations, and technologies is crucial for maintaining a competitive edge. Additionally, evaluating the performance and impact of your confidential information can guide strategic decisions. Removing outdated data and properly archiving historical or legal information promotes efficiency and compliance. Don't forget to update contracts, security measures, and policies to reflect these changes for comprehensive data governance.