One cannot deny that the customer’s trust is crucial for the success of an organization and maintaining data privacy is one of the most important factors to gain it. They need to trust that the organizations and their privacy are protected. If an organization is not able to accomplish its commitment to privacy, then customers will look for other substitutes.
The biggest problem that many organizations face in the privacy context is a data breach. The data breach consists of the personal information of the people that can damage the organization’s position in the market. According to the FireEye report of 2016, companies in the world took around 146 days to detect a data breach.
Any illegitimate access to data that is damaged or copied from any source is known as a data breach. Stolen data may include any information like customer data and details that may be confidential for business. Any organization can suffer a data breach whether it is small or big. The effect of a data breach targets the company’s reputation due to which they can lose the customer’s trust in securing the data.
A data breach is a cyberattack that allows cybercriminals to get unauthorized access to a system and steal private information related to the data of an organization or customers. This signifies the security weakness and the effects can be devastating for any organization and its customers.
Keep reading the blog to know about the effects of a data privacy breach.
There can be countless consequences of a data breach. That is why 86% of business executives accept cyber security threats, according to a PricewaterhouseCoopers survey.
Some of the effects of data privacy breaches in an organization are as follows: –
Data breaches can be extremely expensive and can cause an organization to go under. That’s why cybersecurity is very important.
The following are a few tips to prevent data breaches: –
Every business needs to understand cybersecurity and should take responsibility to work against cyber criminals. Any organization needs to take all the necessary safety measures to protect its data from data breaches. Preventing data from data breaches is not just about good business practice but avoiding the financial costs due to data breaches.
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