Data breaches: The dangers and consequences
This is the second article in a series on data breach risks. It covers issues such as regulatory compliance, costs, reputation loss, and other related topics. We will be discussing the different cyber threats and the possible consequences for businesses affected by data breaches in “Threats & Consequences”. Data breaches are when an individual or group of individuals is allowed to view data that they aren’t authorized to. This is described in the “What You Should Know” article. They can also steal the data and make changes to it once they have it. The consequences of data theft can vary depending on what type of data is involved. They could destroy or corrupt databases, leak confidential information, or steal intellectual property. There may also be regulatory requirements that notify the affected and compensate them. Bloomberg reports that data breaches increased by 40% in 2016 compared to 2015. These incidents can have severe consequences and may even result in a company losing...