Wednesday, April 10, 2019

In Other News: The worst business hacks of all time

In Other News:
The worst business hacks of all time
If we were to record a time-lapse of data breaches across the world, the result from the last few decades would be quite stunning. All stolen data is not created equal, since records can range from names to fingerprint records, and are sometimes encrypted well. Nevertheless, when SSNs, credit card numbers, or other financial information is involved, customers become increasingly vulnerable to identity theft.
Simultaneously, organizations that are breached must deal with enhanced regulatory scrutiny, customer churn, and settlement fines in the immediate future. But the long-term consequences are even greater. Small businesses that are responsible for compromising the data of their patrons face the threat of diminishing loyalty and ultimate disinterest. As a result, the ROI of cybersecurity investment should be measured in hundreds of thousands.

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