What is a Data Breach?
A data breach is the exposure of sensitive information that has been lost, stolen or illegally accessed. This can include personal identifying information (PII) like names, addresses and phone numbers; financial information like credit card numbers and social security numbers; or other confidential business data such as intellectual property, strategic plans or research findings. In most cases, attackers access information through breaches of a company’s systems. However, physical breaches can also occur when servers, computers or other equipment with PII is compromised through theft, unauthorized entry or improperly discarded hardware.
When a data breach occurs, you need to communicate with all of your customers that their information has been exposed. This is not only a legal requirement but it can help save your brand from reputational damage and can also encourage your customers to take additional steps to protect themselves.
The average data breach results in over $4 million dollars in financial damages. The cost of a data breach can be even higher for companies that have not taken the necessary measures to comply with government or industry regulations regarding the handling of PII.
Data breaches can be caused by a variety of factors including malware, misconfigurations or human error. Attackers often target large companies that have a lot of information to steal or exploit, such as financial institutions and healthcare providers. In addition, attackers can look for weak points or vulnerabilities in the system that they can use to gain unauthorized access.