Data loss is considered by security experts to be one of the most serious threats that businesses currently face.
Maintaining the confidentiality of personal information and data is an essential factor in operating a successful business. People must be able to trust that their service provider takes the appropriate measures to implement security controls that will ultimately protect their privacy.
However, some of the largest and most reputable organizations have fallen victim to data loss security breaches resulting in significant legal, financial, and reputation loss, including :
The Bank of America: Losing the personal employee information of over one million employees
The United States Government: Losing data related to the military
Heartland Payment Systems: Transferring credit card information and other personal records of over 130 million customers
In 2013, it was estimated that data breaches had resulted in the exploitation of over 800 million personal records . This number is also expected to rise over the next several years given the advanced tools that cybercriminals use to steal information and data.
Interestingly, it is not just cybercriminals who represent a threat as:
64% of data loss is caused by well-meaning insiders.
50% of employees leave with data.
$3.5 million average cost of a security breach.
Considering these extensive data breaches, it is practical for organizations to understand where their critical data is located and understanding current security controls that can stop data loss.
Data Loss Prevention (DLP) solutions locate critical and personal data for organizations and help prevent data loss. By having a deeper understanding of efficient DLP security controls, you will help protect the reputation of your organization.
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