How Damaging Can A Data Breach Be?

5 Ways To Avoid Bad Data data options Data Consolidation-Negosentro | How Damaging Can A Data Breach Be? | Every business stores its data, it has to, and with modern e-commerce, this can include the financial information of your customers and your complete business plans and agendas. With hacking a common occurrence, every business owner must take IT security precautions to prevent a critical data breach. In this article, we will take a look at some of the scenarios that a data breach might involve, along with suggestions for protection.

  • Research & Development – If a company has invested heavily in designing a revolutionary product, and should that data be stolen, then the competitors would take advantage of the costly research and produce an identical product. Once you have begun a research & development program, costs rise daily and when you near the end of the project, it is critical that the data remain secure. If you are at all concerned about your R & D results and would like to have better cyber-protection, an online search will help you find an IT security specialist who has all the answers.
  • Theft of Financial Client Data – Imagine if someone hacked into your network and stole all your clients’ credit card details! Of course, the very first thing to do would be to inform your customers of this breach, and they can put a hold on all cards, which limits the damage. Ideally, you need an IT specialist that offers ISO 27001 consulting and compliance audits, and if you are adequately protected and your data is stolen, your insurance would likely cover it. Hackers are not particular how they get credit cards details, and if they spot a weakness in your online protection, they will exploit this with earnest.
  • Data Loss – In the event you lost all your critical data and had no current backup, this would have serious consequences for any business, and if you have managed IT services, this could never happen, as your data would be backed up daily onto a remote server. Indeed, every Australian business should be ISO 27001 certified, which does give your customers added reassurance, knowing your IT security is compliant with global standards.
  • Customers’ Trust – If you did have a data breach and your clients’ financial details were hacked, it would be difficult for that customer to carry on doing business with you, as they have already had their data stolen. Rather than taking any chances, invest in what it costs to become ISO 27001 compliant, then you will have no IT security concerns.

There are companies all over the world that have become victims of cyber-theft, and the only way to protect your critical data is to enlist the help of a leading IT security provider. They can carry out an audit and assess your current IT security, then they will make some suggestions, and should you be in agreement, they would put together an implementation plan and take the first steps to making your IT data ISO 27001 compliant.

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