Data breaches often tend to have a severe impact on organizations. Be it a small to mid-sized business (SMB) or a multinational corporation (MNC), a data breach can cause the loss of sensitive information, revenue, and eventually cause a decline in the market reputation of the brand.
While many companies are armed with high-tech security software that protects their data, cybercriminals also leverage the latest technologies such as automated bots, or scripts to carry out attacks in a more sophisticated manner.
Once the attacker has access to your company’s network or device, they can steal sensitive information such as the bank details, credit card info, name, contact details, of your users or your employees. They can also modify databases, make your data inaccessible, hold it for ransom, or completely wipe it out.
The long-term effects of a data breach are often severe.
It is imperative for businesses, especially in today’s cybersecurity landscape, to take precautionary measures to avoid data breaches at all costs. It can take months, if not years, for companies to reverse the damage done by a data breach.
Here are some of the major effects of a data breach on companies:
Author Bio – Aaron Cure
Aaron Cure is the Principal Security Consultant at Cypress Data Defense and an instructor and contributing author for the Dev544 Secure Coding in .NET course.
After 10 years in the U.S. Army, I decided to switch my focus to developing security tools and performing secure code reviews, penetration testing, static source code analysis, and security research.