Data Loss Prevention is Essential as more Regulations and Fines Add Big Costs to a Data Breach

Data loss

Globally, about 30% of companies are expected to suffer at least one data breach this year – and that’s a conservative estimate. Dramatically increased Dark Web activity in the wake of the COVID-19 pandemic combined with a challenging economy means that even cybercriminals are going to have to work a little bit harder to turn a profit. That’s why it’s essential for companies to have a data loss prevention strategy in place that is dynamic enough to keep up with the rapid evolution of today’s threat landscape.

Lessons From the Past Can Predict the Future

Data breaches increased worldwide by over 50% in 2019, and experts predict similar growth in 2020. In Europe, data breaches under GDPR have cost companies more than $126 million in penalties as a result of 160,000 data breaches. Huge fines against British Airways ($230 million) and Marriott ($123 million) illustrate that the cost of a breach in penalties alone is crushing. No one wants to join that list.

Fight Back Against Greedy Cyber Criminals

  • Phishing is the most common way that hackers gain access to systems and data. Phishing is booming, and regulators have no problem slapping big fines on companies that fall victim to phishing attacks. A solution like BullPhish ID helps prepare staffers to resist phishing attempts training them to be alert for suspicious messages with video content and training kits in 8 languages – including COVID-19 threat training.
  • Beware of credential compromise from information that’s already on the Dark Web. Millions of passwords are available in Dark Web markets right now. That information is garnered from other breaches, password cracking software, and sloppy password hygiene – and it’s just waiting for an attacker to use in a credential stuffing attempt or another cyberattack. Dark Web ID helps IT teams find vulnerabilities to give businesses time to shore up the weakness to stop an attack.
  • Find insider threats because they’re the biggest risk to your systems and data. Whether it’s someone maliciously sabotaging your business or a clueless staffer leaving a database unsecured, the biggest threat to every business is already inside their building. Learn to spot and stop insider threats in our resource package “Stop Insider Threats”.

See how our solutions can shore up your defenses against cyber threats quickly with deployment in days, not weeks by watching a 10-minute tech demonstration video. No company can afford to incur the enormous cost of a data breach, especially in this challenging economy.