2. Due to the exposure of sensitive information, data
breaches affect both individuals and organizations.
In both cases, they may experience overwhelming
losses and legal liabilities. To avoid this headache,
due diligence efforts are required to protect the
data on a priority basis. Otherwise, it will be an
expensive lesson in data security.
3. CONSEQUENCES OF
The threat to data security happens when it becomes
highly valuable to a third party.
In the following way, data breaches can affect
individuals and organizations -
DATA BREACHES
4. The most obvious impact of
data breaches is financial.
According to Ponemon, a
single data breach can cost
millions of dollars, and it
generally extends for the
next few years.
FINANCIAL
IMPACT
5. A data breach may impact
the relationship between
the two parties. It also
affects organizations
through loss of sales,
customers, and investors.
LOSS OF
GOODWILL
7. If any individual or
organization is responsible
for data breaches, then they
have to face fines or other
legal penalties.
LEGAL
LIABILITY
8. CONCLUSION
Data breaches can have long-lasting effects
on both individuals and organizations.
Thereby, it is recommended to adopt
adequate security and other protective
measures to reduce data breach risks and
eliminate the possibility of high data breach
costs.