In a world of endless data penetration, securing vulnerable data is the most important step for any organization. Today, data breaches are increasing at a rapid pace and organizations are left with no option but to protect and secure their confidential data. According to the latest Data Breach Investigation Report by Verizon more than 2000 data breaches were confirmed in the year 2015, which lead to approximately 80,000 security incidents. In such an alarming situation, it becomes all the more critical for organizations across all verticals to secure their data ecosystem to avoid such data breach risks.
There are several different issues that an organization’s security base faces. The most basic is avoiding unlawful interruption into the corporate system and ensuring that private data is safe and secure. In today’s era various verticals and fields require organizations to manage their data ecosystem by strict security measures from data theft. Moreover, with the increasing number of breaches each year the need to secure data becomes an alarming situation. According to the Ponemon Report for 2015, the number of breached records per incident in 2015 ranged from 3,000 to 77,000 records. Apart from this around $400 million were lost when 700 million private records from 70 organizations were exposed to hackers stated in the Verizon’s 2015 Data Breach Investigations Report. There have been serious data breaches pertaining to particular fields in the past, which have left millions of people at the risk of the fraudsters and hackers who easily accessed their personal information leading to huge individual losses.
The thriving industries which face maximum threat and need to pay attention in securing their infrastructure are verticals like Banking, Financial services and Insurance (BFSI), pharmaceutical companies and IT companies.
When we talk about pharmaceutical firms, reports convey that the breaches have been no less in this sector. For example, according to the survey of 407 senior IT figures, in pharmaceutical companies, 12 percent of firms have been attacked between seven and nine times, and 8 percent of them have been hacked between 13 and 15 occasions. Coming to BFSI’s, according to the Identity Theft Resource Center’s 2015 Data Breach Report, at least 44 breaches occurred in the U.S. banking/credit/financial sector between Jan. 1, 2015 and July 28, 2015, with at least 400,000 individual records affected. Further talking about the IT sector since most of the IT/ ITES industry in India depends on work done for global customers and rely big time on cloud services, it is essential for them to manage and secure their data in every possible way. Information pertaining to all these fields is not only valuable to the companies, but can be priceless to the data thief’s, as they can make a profit selling this sensitive data to the highest bidder.
Further, with the advent of technology and the smartphone generation coming into the picture, data breaches are not limited only to big organizations. A data breach can affect businesses of varying size and industry.
The need to secure the critical data and manage security infrastructure has never been more critical than now. With Data breaches increasing in frequency and costing businesses more every year, the circumstances have become startling, calling for a need to adopt measures to manage the critical data and further more increase the awareness about its importance.
WinMagic: Protecting Your Data
Do you want to keep valuable information safe from hackers? Contact WinMagic today. Since 1997, WinMagic has been producing award-winning encryption solutions. We were awarded the 2015 CATAAlliance Outstanding Product Achievement Award, and the 2014 Search Security Readers’ Choice Award for the Best of Encryption.
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