What is a Data Breach?
Data Breach
A data breach happens when sensitive information, such as financial and personal details, is exposed without authorization. It can occur through a hacker attack, system vulnerability, human error, or loss of equipment. It can result in lost customer trust, regulatory fines, loss of business and revenue, and long-term recovery efforts.
In the US, laws such as the GDPR and the California Consumer Privacy Act set a legal standard for notifying impacted individuals when a data breach occurs. Depending on the severity of the impact, the data controller may also need to notify the supervisory authority.
Threat actors can steal data by breaking into offices to steal employees’ laptops, paper documents and physical hard drives; using skimming devices on physical point-of-sale (POS) machines to collect payment card information; or stealing portable devices such as smartphones, tablets and PCs. In addition, data can be accessed unintentionally when a website is compromised, when the wrong software is installed or when an employee clicks on an email link.
A data breach can have a significant impact on consumers, including the potential for identity theft, financial loss, loss of trust, damage to reputation and the violation of personal rights. People can take steps to protect themselves, including checking credit reports and monitoring accounts for new activity; shredding paperwork and discarding paper records; purging digital devices by using special software before donating or selling them; and regularly scanning and updating passwords and credentials on online services.