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. There are 7 types of data breaches.
It may seem like stories of massive data breaches appear 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 a large amount of data that can be nabbed in one fell swoop.
