3 Common Consequences of a Data Breach

Data protection can often seem tedious, but many companies have found out to their severe cost that the potential consequences of a data breach can be catastrophic.

Whether it’s a hard drive wipe, computer disposal, or asset governance, it’s essential that you closely consider your data security solutions.

Failure to properly secure data can land you in serious trouble. Here are three common outcomes companies experience as a result of a data breach.

Legal ramifications

If your business regularly deals with sensitive information relating to your customers, clients, and other businesses you deal with then you’re going to need to comply with very specific and ever-changing data protection laws that regulate the use and storage of that data.

If you’re found to be in breach of data security guidelines you’re liable to face heavy penalties. This can be in the form of an official caution, a fine, or in the case of a serious data breach you may even be liable for jail time. So be familiar with your legal obligations, and comply.

Public opinion

Data breaches often become very public affairs and your company is not going to experience much in the way of positive publicity. If you’re found to have been subject to a data breach then in the eyes of the public you’re going to be seen as weak and untrustworthy, and they won’t be much inclined to take their business to you.

This is amplified even more in situations where the data which has been compromised belongs to existing customers of yours. Not only will those customers be livid and share their frustrations throughout their social circles, but you’re giving potential customers the impression you don’t take their data security very seriously.

Perceived vulnerability

When your business has suffered a data breach, it appears on the radar of data thieves everywhere. It’s naïve to presume just because you’ve experienced one attack that data thieves will presume you no longer have any data that’s worth stealing or manipulating.

The opposite is true, and the fact that your business has data security weaknesses has just been advertised. You’re far more likely to experience a data breach in the aftermath of a previous attack than at any other time, because your attention is often diverted dealing with the fallout of the first.

Hard drive wipes, computer disposal, and asset governance methods to help improve your data security can be provided by AssetCare.