A data breach is a security incident in which information is accessed without authorization. Data breaches can hurt businesses and consumers in a variety of ways. They are a costly expense that can damage lives and reputations and take time to repair.
It may seem like stories of massive data breaches pop up in the news frequently these days. But it shouldn’t be all that surprising.
As technology progresses, more and more of our information has been moving to the digital world. As a result, cyberattacks have become increasingly common and costly.
Globally, the average total cost to a company of a data breach is $3.86 million, according to a study by the Ponemon Institute. This means that at $148 on average per stolen record, online crime is a real threat to anyone on the internet.
According to Symantec, personally identifiable information — such as full names, credit card numbers, and Social Security numbers — was the most common form of data lost to data breaches in 2016, with personal financial information close behind.
Corporations and businesses are extremely attractive targets to cybercriminals, simply due to the large amount of data that can be nabbed in one fell swoop.
Cybercrime is a profitable industry for attackers and continues to grow. Hackers seek personally identifiable information to steal money, compromise identities, or sell over the dark web. Data breaches can occur for a number of reasons, including accidentally, but targeted attacks are typically carried out in these four ways:
To help protect your identity, it’s important to take steps to help protect yourself and your personal information. These steps can include:
Many companies are tightening security measures and reassessing their procedures to better protect the consumer data they use and store.
Laws and regulations are in place that require companies to take specific steps in the event of a data breach or other security incident. Most states require companies to send data breach notifications to consumers when their personally identifiable information may have been compromised.
Still, you should never rely solely on others to keep your information secure. It’s always important to take preventative measures and keep an eye on your information.
Data breaches are likely here to stay, and the best defense against them is a good offense. Educate yourself and be diligent about monitoring your online life. There may be laws, policies, and procedures in place to help protect your information, but it still makes sense to stay engaged and alert even as you enjoy the convenience that a connected life delivers.
We're ready to talk when you are. You can schedule an appointment to speak with a representative from Cyber Armada when it is most convenient for you. Whenever possible we use online meetings to increase productivity and increase the amount of time we can spend with you. We use Zoom Meetings as our preferred video conferencing platform.
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