Impact OF Data Breach
According to a survey conducted data breach incidents in India have been on a higher scale compared to the global average. Many organisations faced Data Breach even after increased security measures. Reportedly 1.1 billion citizen’s records were compromised due to data breach faced by ID database Aaddhar. Top multinational companies like FB, Quora, Google etc also have fallen victims to Data Breach
How are breached businesses affected?
A business suffers in many ways when it falls victim to a data breach, one of which is dealing with the financial repercussions. There are many costs an organisation needs to bear when a data breach occurs such as paying back debts immediately as stake holders lose their trust from the organisation, atone the affected customers, share value plummeting and ensure proper protection is provided to avoid further data breach mishap
Furthermore, there is a fine levied by the ICO (Information Commissioner’s Office) for endangering customer’s data and not taking preventive measures in advance. Apart from the fines, the breached companies also have to deal with reputation damage, loss of customer’s Goodwill, loss of investor's trust, etc... A massive impact falls on the company’s customer base especially if the breach involves sensitive data. A breach can also divert potential customers causing further losses to the company
The impact of a data breach also depends on the type of data. If the data was confidential, it can have catastrophic effects. If personal data of staff and customers are breached, those people are left open to the risk of identity theft.
Protect your organisation with KLX cloud IT
There has been a significant change in the nature of cybercrimes. Nowadays cybercriminals are more organised and vigilant. With massive resources available on our fingertips, it has become easy for these cybercriminals to get access to confidential data.
Every organisation is focused on securing and protecting the data which is currently used but neglect the past data. Data-at-rest are those information saved in archives, hard drives, thumb drives, etc which may not be put to use frequently and as deleting data does not wipe the data completely, these data are left unsecured. These are the data that are not given importance but may act as loopholes for hackers to get access to the information. KLX understands the consequences that may follow leaving these data unsecured and provides the ultimate way of protecting these data from falling in the wrong hands.
We're now at the point where we have to admit that data breaches are the new reality with over half of organizations in India suffering a breach in the last year. In this rising data-driven world it is therefore highly essential that organizations take steps to protect data wherever it is created, shared or stored. We need to stay up to date with the growing technologies and take preventive measures to avoid any mishap.
To help save crucial data from falling into the wrong hands, Knitlogix have come up with degaussing solutions which makes data irrecoverable and safe to discard. For more FREE information and custom solutions, reach out to a Data Security Consultant at www.knitlogix.com practicing data security as per NIST, GDPR, India IT act & DoD standards in global data security