The incidents of data breach have been increasing by leaps and bound since the since the last decade. In the year of 2006, the cost of data breach incidents was quite high which was about $4.8 millions, this cost increased within a year by 76 percent and reached $6.3 million. Nearly 6 years back from today, the cost per data breach was about $197. The studies show that only the United States of America suffered $5.4 million in result of the data breach incidents in 2013. These facts are jaw dropping and quite alarming for the computer users that how insecure that data is. There are some kinds of data leakages that may prove to be a nightmare for people that suffer data loss. Some years back, the Home Depot lost a laptop that contained all the personal information of their Ten Thousand employees. But, the fact is that it was not just the Home Depot, the Veterans Administration, Monster.com, Fidelity National Information Services, AOL, TJX and many more companies have suffered a major data loss. It is not much of an issue when a company loses as the result of fierce attacks of attacks by hackers on its database. The company faces more difficulty when it stands guilty alone of losing precious information.
TJX suffered a data loss due to the hackers’ attacks on its database. But, the security officers revealed that TJX cannot blame the cyber criminals for losing data, the company has to accept the responsibility of not making the due security measures to make the data secure. The situation turned worse for the company when it was disclosed that even the breach was not detected by the company itself. The company was sued by a number of stakeholders who suffered because of the lethargic or irresponsible approach of the company towards the data security. A credit card company filed a suit and claimed that information of nearly 94 million credit cards have been compromised in the result of this information leakage. The number of records compromised that the credit card company claimed were twice of the estimate taken by the TJX.
It was one of the million cases that came in the notice of the world. Many companies have suffered losses of millions of Dollars in shape different kinds of frauds and penalties. However, the common reason behind the majority of the incidents of data breaches is the non-serious approach for data security. The companies can afford the losses and fines of millions of Dollars, but, what about the common man. Hackers can aim your data too and you can be a victim of their fraud, so, it is better to use security software that can Lock Files.
Every bit of data is precious; any piece of information that might be ordinary for you, but, it can be used against you to make you suffer. The hackers are extremely skillful and have a firm knowledge of how to spoil a piece of information. Keep yourself update with the different kinds of new and improved techniques of frauds and data thefts to keep your data secure.
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Data Breach —A Nightmare for the Business