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Data Breach Series: Top 3 Data Breach Myths (Part 1 of 4)

This entry is part 1 of 8 in the series Data Breach

Data breach is the exposure of sensitive customer information due to hacking, theft or the accidental release of data. Business owners are expected to be custodians of customer information and have a reasonable expectation to protect their customers’ data. A data breach is impactful for all businesses, but it can be devastating for a small business without the resources of a larger corporation. In this four-part blog series, we share what business owners need to know to diminish the possibility of a data breach and its destructive impact if one is experienced.

MYTH #1: It won’t happen to me.
Facts: No matter the industry, data breach is a real concern to any business. From restaurants and bars running hundreds of credit cards every night to medical offices with piles (both electronic and physical) of sensitive patient information, it can happen to anyone. (more…)

Data Breach Series: 8 Tips to Prevent Data Breach (Part 2 of 4)

This entry is part 2 of 8 in the series Data Breach

Data breach is the exposure of sensitive customer information due to hacking, theft or the accidental release of data. Business owners are expected to be custodians of customer information and have a reasonable expectation to protect their customers’ data. A data breach is impactful for all businesses, but it can be devastating for a small business without the resources of a larger corporation. In this four-part blog series, we share what business owners need to know to diminish the possibility of a data breach and its destructive impact if one is experienced.

Data breach is the exposure of customer information, and should not be confused with identity theft – which is when thieves target individuals to obtain credit card and financial information – or cyber liability, which refers to the individual targeting of businesses to steal their financial information via hacking.

Preventing data breach is equal parts common sense and technical knowledge. It’s important to take a balanced approach because neither avenue alone can address all issues. Consider these tips: (more…)

Data Breach Series: How to React to a Data Breach (Part 3 of 4)

This entry is part 3 of 8 in the series Data Breach

Data breach is the exposure of sensitive customer information due to hacking, theft or the accidental release of data. Business owners are expected to be custodians of customer information and have a reasonable expectation to protect their customers’ data. A data breach is impactful for all businesses, but it can be devastating for a small business without the resources of a larger corporation. In this four-part blog series, we share what business owners need to know to diminish the possibility of a data breach and its destructive impact if one is experienced.

In the case of a possible data breach, a business owner should follow these steps: (more…)

Data Breach Series: Protecting Your Business from Costly Data Breach Damage (Part 4 of 4)

This entry is part 4 of 8 in the series Data Breach

Data breach is the exposure of sensitive customer information due to hacking, theft or the accidental release of data. Business owners are expected to be custodians of customer information and have a reasonable expectation to protect their customers’ data. A data breach is impactful for all businesses, but it can be devastating for a small business without the resources of a larger corporation. In this four-part blog series, we share the top three data breach myths, eight tips to prevent data breach, how to react to a data breach, and how to protect your business from costly data breach damage.

For 20 days in late 2013, Target Corporation experienced one of the largest data breaches in American history. Hacked information included some 70 million customer names and 40 million credit and debit card numbers including the short verification codes on the back of compromised cards. In addition to forcing the retail giant to book a reported $61 million in direct costs related to the breach, it also scared customers away from shopping at their stores – which resulted in a 46% drop in net profit during the holiday quarter. Although the exact full costs of the breach are not yet known, security analysts have pegged the costs at upwards of $400 million.

A data breach can be even more impactful for a small business and cause irreparable harm to your company’s reputation. The cost of even a small breach can be wildly expensive. Typical costs can include: (more…)

7 Common Causes of Data Breach

This entry is part 6 of 8 in the series Data Breach

Data breach is the exposure of customer information and it is becoming a more common (and frightening) occurrence. Could your business be the next victim, left to face tremendous financial costs, lost customers and lost reputation? Consider these common causes of data breach: (more…)

Hacked! How to Comply with Data Breach Notification Laws

This entry is part 7 of 8 in the series Data Breach

Unfortunately, your business is never 100% protected from data breach crimes, so it’s important to be prepared to respond if you should become a victim. In the event of a data breach, businesses must comply with data breach notification laws. Although data breach notification laws vary by jurisdiction, generally businesses must notify consumers whose personal information has been compromised by a security breach.

Who is required to give notice? (more…)