Source: National Cyber Security – Produced By Gregory Evans
Nobody is perfect. Everyone makes mistakes, and anyone can fail — especially in the business world. IBM’s “2015 Cost of Data Breach Study” shows that the average total cost of a data breach is $3.8 million, representing a 23 percent increase since 2013. The cost for each lost or stolen record increased 6 percent, from a consolidated average of $145 to $154. Several companies also have been sued for their negligence in preventing these attacks. Data breaches are huge failures, but taking a look at these four big ones can teach us a thing or two about how to better secure our data. 1. Home Depot The largest home improvement chain in the world suffered a breach that resulted in compromised credit and debit card information for 5.6 million Home Depot customers in September 2014. Then in November of that year, about 53 million email addresses were stolen. The company said that the hackers used a third-party source to enter the Home Depot network, and then installed malware affecting the self-checkout systems. This data breach involved credit and debit cards, along with customer’s personal information. Most of these breaches occur where the “swipe and sign” or magnetic strip method of reading […]
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