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The Damage of a Data Breach

A data breach can have significant, costly consequences for individuals and organizations. Consumers can experience financial loss and a damaged reputation; businesses can incur fines, settlements, business disruption and loss of revenue; government agencies can lose sensitive information, including details about national security, military operations or political dealings, that could put citizens at risk.

Getting ahead of these threats begins with a comprehensive cybersecurity plan that addresses both prevention and response. Implementing strong access controls, using multi-factor authentication and limiting privileges to minimize risks, updating software regularly and developing an incident response team are key preventive strategies. Regular encrypted backups and a cloud service that monitors systems 24/7 and backs up offsite servers can help businesses quickly get up and running in the event of an attack, even if the original server is compromised.

Data breaches are caused by many different factors, ranging from innocent employee mistakes to malicious hacking. The most common are phishing and cyberattacks, which lead to the largest number of records breached—in some cases, hundreds of millions.

Other causes of data breaches include theft of portable devices (like phones, laptops and office computers) and physical loss; insider leaks —including angry or laid-off employees or greedy employees seeking financial gain — that reveal confidential information to the wrong person; and unintentional disclosure — such as when an organization makes an embarrassing mistake on social media or accidentally releases sensitive information to the public. Whatever the cause, a well-designed incident response plan can reduce the impact of a data breach and mitigate damage.