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How a Data Breach Hurts a Retailer's Bottom Line

Posted by Vijay Basani on Dec 23, 2016


Retailers will see some major financial impact following a big breach.

Retailers are some of the most vulnerable organizations when it comes to data breaches. Due to the fact that these companies have to process enormous amounts of customer financial information, it simply makes sense that hackers would do everything they can to get past cybersecurity defenses. 

Outside of the fact that a significant cyberattack will forever change how customers view your company, these incidents generally have significant financial fallout. To that end, what can a retailer expect to deal with when they're the victim of a data breach?

How Does a Cardholder Data Breach Happen?

Posted by Vijay Basani on Dec 21, 2016


What happens when card security can't hold back the hackers?

Due to the fact that credit and debit card data can be used to anonymously purchase goods and transfer money online, this information has become highly sought after in the criminal underworld. Hackers are compensated generously for gaining access to these cards, and are therefore motivated to break into the systems that hold them. 

But exactly how do these individuals go about getting a hold of this information? Let's dive in: 

What Has Been the Impact of Data Breaches in 2016?

Posted by Shawn O'Brien on Dec 1, 2016


Data breaches have had a large impact on businesses in 2016.

Data breaches are major events that place tremendous pressure on IT departments to rectify. Unfortunately, numerous case studies exist where companies have not only failed to prevent a cyber attack, but they've also struggled (at minimum) to mitigate the damage. The end result is often lost customers and a dented bottom line.

"Data breaches are increasing because there are more connected devices than ever."

Why are Data Breaches on the Rise?


One reason data breaches are increasing is because there are more connected devices than ever. And that number is expected to rise.

Gartner predicted connected "things" would jump 30% between 2015 and 2016. Other experts agreed, such as Fortinet Global Security strategist Derek Manky and Morgan Stanley Chief Information Officer of Technology and Information Risk Matthew Chung.

3 Signs That Someone Is Already In Your Network

Posted by Shawn O'Brien on Nov 23, 2016


There are ways to detect whether or not your IT systems are being compromised.

Has your company's network been compromised? If you're not sure, you should know how to tell because it could prevent the loss of critical data. 

"Companies, both big and small, may appear to be indestructible, they're always at the mercy of their IT security systems."

While large and small companies may appear to be indestructible, they're always at the mercy of their IT security systems. When their networks are breached, cybercriminals can typically steal important data with ease such as a customer's personal and financial information. The end result is often damage to the company's bottom line because of lost customers. 

But what if a company could prevent (or at least slow) these cyber attacks by not only building a robust IT defense system but also by knowing when a hacker is attacking? In this article we'll discuss how companies can tell when a cybercriminal is already in their network. In turn, this will allow IT teams to quickly react and avoid losing crucial data.

How Do Most Data Breaches Happen?

Posted by Shawn O'Brien on Nov 17, 2016


Companies need to take IT security seriously, and they can start by understanding who's attacking them.

Each year companies lose millions of dollars because of data breaches. Not only do businesses lose money because cybercriminals steal critical data but also because these hackers cause often irreversible damage to the organization's reputation. In turn, these companies often struggle to retain and gain customers.

Many different types of IT criminals breach databases, which we'll discuss shortly, but it's critical to first understand what they're looking for and who they're attacking.

Data Breach Details: The Australian Red Cross Has Over 1.2 Million Records Stolen

Posted by Vijay Basani on Nov 15, 2016


The Australian Red Cross forgot to lock the backdoor to their IT databases, and information was stolen.

The Australian Red Cross is currently dealing with a massive IT security mishap that exposed thousands of Red Cross blood donors' personal information.

"The leak disclosed blood type, previous donations information and donor eligibility answers."

The IT leak didn't just reveal information such as names, telephone numbers, emails, addresses, and birth dates. It also disclosed blood type, records of previous donations, and donor eligibility data.

 

Troy Hunt, an IT security expert, first discovered the leak after someone contacted and provided him with a snippet of data from donateblood.com.au that included his personal information. The person then gave Hunt the entire set of data (1.74 GB or 1,286,366 records). The information also included Hunt's wife's personal information.

Trump Hotel Chain Settles Over Massive Data Breach

Posted by Security Steve on Nov 4, 2016


The Trump Hotel Chain was breached, and 70,000 credit card credentials were stolen.

IT security is one of a company's major lifelines. Data breaches alone cost companies nearly $160 per record, according to a 2016 Cost of Data Breach Study, and often hundreds if not thousands of pieces of data are stolen. The Trump Hotel Collection is facing the harsh reality of a data breach after it agreed to settle for $50,000 in penalties and improve its data security protocols after cybercriminals gained access to 70,000 credit card credentials, according to Computer World.

How a Security Breach Hurts Your Businesses' Bottom Line

Posted by Shawn O'Brien on Oct 24, 2016


Security breaches can greatly impact your company's bottom line.

As a business owner, you need to take IT security seriously. Not doing so threatens your company's bottom line due to lost customers and revenue - and possibly top officials if they lose their jobs, which can destabilize departments.

 

As proof IT security can cost your company a bundle of money, let's first examine data regarding how customers feel about and act towards companies that have been breached.

Breaking Down Yahoo IT Breach of 500 Million User Accounts

Posted by Shawn O'Brien on Oct 11, 2016


500 million Yahoo accounts were breached and possibly stolen in 2014.

IT security is a growing issue that companies must address before it's too late. For example, take Yahoo, which recently experienced what some are calling the biggest breach of all time, when cybercriminals stole information from 500 million user accounts.

 

"Yahoo believes that criminals stole an assortment of personal information."

Confirmed by Bob Lord of Cisco in a statement, Yahoo believes criminals stole an assortment of personal information from users, although it suggests unprotected passwords, bank account information and payment card data were left untouched.

Data Breach Details: Eddie Bauer Stores

Posted by Vijay Basani on Sep 23, 2016


Eddie Bauer's stores were recently breached by cybercriminals.

Protecting critical business data and customer information should not be taken lightly. The latest example of a major data breach comes out of Eddie Bauer, a clothing store chain located in Washington.

 

"Not every Eddie Bauer

customer was affected by the breach, but all would receive identity protection."

The company recently released a statement notifying its customers that its North American stores had been compromised by a security hack between January 2 and July 17 of this year. It did note that not every customer was affected, but that all customers would receive identity protection for 12 months.

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