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How Much Does A Data Breach Cost Your Company? A Lot More Than You Might Think

Author: Nicolas Cole / Source: HuffPost

Despite the fact that the Internet has become a key pillar in the workings of modern day society, there is still a massive knowledge gap between Internet users and how the Internet actually operates.

Many people have no idea what data security actually means, how it works, or why it’s important. They hope no one can see what it is they’re doing, and then just sort of leave it at that.

For companies, government agencies, and research institutions, the threat is even higher—especially when you’re dealing with highly confidential information. Although, any single user’s information is considered confidential, there is also sensitive information (e.g. legal matters, regulatory affairs, intellectual property protection, mergers and acquisitions, research and development materials) that, when breached, incur significant challenges and costs for institutions.

In America, people have become numb to the headlines that alert the masses of huge data breaches. Do you remember the Target incident that compromised nearly 40 million credit card holders? Or when Sony was cyber-attacked by North Korea? Or what about when 200 million Yahoo users had their information stolen, ready to be sold to a willing buyer?

The public reads these headlines, shrugs, and then goes about their day. In just the past few years, over 900,000,000 records of personally identifiable information have been stolen in the United States.

For institutions especially the ones being threatened by…

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