Increasing Data Breaches have Little Impact on Companies
Even though people are quite well aware of the fact that data breaches are on the rise, little is being done by companies to deal with them effectively. But then again, that should not come as a surprise since companies are not willing to set aside resources, which could otherwise be invested elsewhere for greater profits. It is all about the profits for companies, but what they do not realize is if they continue doing so, they will lose their customers in the long run.
Latest Breach
Getting back to the matter at hand, the increasing number of data breaches is evident with the recent hack revealed this Wednesday. People with Aviation Security Identity Cards were informed via email that their information could have been stolen.
What Data was Stolen?
Out of thousands of people that were compromised by the PageUp data breach that took place in May, Ian Brightwell was also a victim of the breach. He stated that he received two emails, just like others, one from the Attorney-General’s office, and the other from David Jones. He explained that he was unclear about what had been leaked, since the emails did not clarify whether his passwords were out there or not.
Why was the Breach Reported?
Basically, companies that relied on PageUp’s recruitment software had to notify their job applicants about the data breach. This only happened thanks in part to the government’s NDB (Notifiable Data Breach) scheme, which requires companies companies to notify victims as well as the government regarding data breaches, and what information has been leaked.
Even though the NDB scheme has been around for some time now, more specifically since last February, it has shown an increase in data breaches. Even though companies are reporting breaches, it is not exactly eradicating the problem at hand. The real problem, according to experts, is that companies are not upping their cybersecurity game.
Why aren’t Companies Upping their Cybersecurity Game?
When taking a closer look at companies, and why they are not taking the necessary steps to help eradicate data breaches, it has to do more with the fact that the fines for not reporting breaches are pretty small. Since the fines are small, it tempts businesses to pay them and keep breaches hidden, to prevent reputational damage of course.
It is alarming to see businesses not taking cybersecurity seriously, unless it has a larger financial implication. For now, the exact costs associated with data breaches cannot be calculated. But the Ponemon Institute has come up with an estimate of more than $5 million for each breach for a single company.
Conclusion
In conclusion, breach or not, users need to take their security in their own hands. This means they will need to take all the precautionary measures available, which also includes using a VPN, like Ivacy VPN, to remain safe, secure and anonymous online through and through.
