Data breaches have become more and more common in recent years. The costs of data breaches have continued to increase with targeted attacks becoming widespread.
Today, attacks can range from small-scale hacks targeting financial institutions to huge data breaches that lead to the loss of consumer data. At the middle of it all are vulnerable companies that store huge amounts of customer data.
There is no definitive figure of just how much data breaches cost companies but recent records have shown that several million dollars are lost on average.
It is possible to mitigate losses associated with data breaches
Experts in the data security realm argue that companies can easily prevent the huge losses that come as a result of data breaches. While the lawsuits and legal processes will ultimately lead to lost resources, taking proactive measures to prevent common attacks can save a company lots of cash. Pundits say that simple investments in security tools is the ultimate solution for the long-term.
The great thing about investing in security and privacy infrastructure is that the market is open for all kinds of clients. According to this TorGuard review, there is no limitation when it comes to total security. It only takes good investment from a company to achieve top-notch security. VPN use is a must if you want to avoid cybersecurity issues in the current world.
Data breaches can be costly when national entities are involved
Mitigation of common attacks is possible for the regular company. In some instances though, there is often an organized set of attacks performed to a nation by an enemy nation. In such cases, only a coordinated approach is sufficient to safeguard the data of consumers. Companies have recently been faced with new regulatory measures as governments get involved in national cybersecurity response programs.
Large-scale breaches are not very common but those that have happened in recent times have left huge impacts on the digital realm as a whole - to the tune of 8.19 million on average per attack.
The cost of data breaches extends beyond financial losses
For most companies, a data breach does not mean the loss of money only. There are various aspects of the company that are damaged after a successful attack. Big organizations are particularly most worried about their reputation in the market. The negative consequences of an attack on a reputable brand extends for many years. Customers are likely to shun such a company long after the occurrence of an attack. Reputation management is thus a costly affair for big brands that have been victims of cyber attacks.
A proactive approach can reduce the likelihood of attacks
As unlikely as it might seem, the solutions for organizations that might be targets of data breaches lie in the formulas that have worked in the consumer market. Services like VPN protection have been tested and proven to be crucial for reducing instances of attacks. As mentioned earlier, the flexibility of such services is also admirable. Consumers looking to cancel TorGuard and refund their payment could be done within minuteswithout much hassle.
Consumers are also able to choose between different plans that have been in the market for a while. Companies looking to prevent data breaches should consider exploring options when it comes to infrastructure for a more secure environment.