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Three Reasons Cybercriminals Continue to Succeed in Breaching Some of the Biggest Brands
In 2018, we witnessed some of the biggest data breaches ever – affecting businesses and consumers alike. From social media, hospitality, healthcare and even mail delivery, 2018 proved that there is no escaping cybersecurity flaws, regardless of the type of business or its popularity. For example, we witnessed the data of approximately 500 million Marriot guests get breached and a USPS security flaw that exposed the personal data of more than 60 million people. Not only do these kinds of breaches cause reputational havoc, but with new regulations such as the GDPR taking hold, fines are also a big fear factor for business leaders. According to reports, Facebook’s potential fine for its part in the Cambridge Analytica scandal could reach $1.63 billion– a harsh reality for a global giant like Facebook to face and pay up. Even for small businesses, the idea of paying up to four percent of their annual turnover as a fine isn’t a fun one. With the average data breach costing enterprises $1.23 million and fines in the billions now at stake, security professionals, like chief information security officers (CISOs) and business leaders need to band together to align their strategies and budgets with the protection needed to stand up to today’s evolving cyberthreats.
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