Data breach refers to a cyber threat where confidential information of the business is taken up by unauthorized acts. Data breaches can take place in organizations of all sizes, ranging from small businesses to large corporate firms. These may include trade information, personal health information (PHI), or other confidential information.
Data breach threats may include any personally identifiable information such as debit card numbers, bank account details, driver’s license numbers, personal medical history, and company information such as customer lists and source codes.
Different Ways a Data breach can happen!
- Password Guessing
- keystrokes to guess passwords.
- Lack of Access Control
- Insider Threat
- Accidental Data Leakage or Disclosure
- Malware, Ransomware
Data Breaching can affect small businesses in the following ways:
Data breaches can affect small businesses in a number of ways.
First and foremost, they can lead to identity theft, which is a serious problem for small businesses. Identity theft can result in huge financial losses for the company, as well as damage to the reputation of the business.
Another way that data breaches can affect small businesses is by lowering their customer base. If a large portion of your customers are affected by a data breach, you may lose some of them unless you make it clear that your business is taking steps to protect its customers’ information from being accessed by hackers.
Finally, if you’re a small business owner with employees who use personal accounts for work purposes (like email), then a data breach could hurt morale and productivity. Employees may be more likely to quit if they feel like their personal information has been compromised and is at risk of being accessed by hackers.
The number of global data breaches in 2016 has increased by 86% compared to the previous year. Opting cyber security solution that are specific to a business can protect a business and offer businesses safe a healthy environment to grow.