Anecdotally, many people realize that data breaches are increasingly prevalent and problematic.
Those presumptions are being confirmed by hard data as a new data breach report reveals that 2019 is poised to be the most destructive year yet when it comes to data integrity.
The 2019 Midyear Quickview Data Breach Report found that the number of data breaches that exposed records increased by 54% in the first half of the year. Concurrently, the number of records exposed in these breaches increased 52%.
The business sector is responsible for the vast majority of these compromised records, with nearly 85% originating with companies that collect and store user data.
This reality underscores the challenge of doing business in the digital age. On one hand, big data is the lifeblood of the internet economy, and companies can lose a significant competitive edge if they decline to collect customer information. However, when that data is compromised, it costs companies significant sums that can offset many of the advantages generated by this type of data collection.
Ultimately, it underscores the importance of developing and executing a holistic approach to cybersecurity that adequately accounts for risks and shortcomings to ensure that your business is positioned to flourish, not flounder.
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