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Impacts of Data Breach on Businesses

Centextech
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Impacts of Data Breach on Businesses

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  1. Impacts of Data Breach on Businesses Unauthorized access to data of a business is known as Data Breach. It may be malicious, intentional, or accidental in nature. The following are the consequences of data breaches: It may include account recovery fees, client compensation, legal penalties, and legal or investigatory fees. Financial Loss #1 Encryption, modification, or deletion of data during a breach can disrupt business operations. Business Disruption #2 Users expect businesses to handle their information carefully & a breach can shake their trust in the security measures employed by the organization. #3 Loss of Trust State & local governments have strict laws governing collection & handling of user data; a breach can result in legal consequences. Legal Consequences #4 Loss of intellectual property including business ideas, SOPs, & research can cause loss of competitive edge. Competitive Loss #5 www.centextech.com Centex Technologies 1201 Peachtree St NE, Suite 200, Atlanta, GA 30361 Capital Factory, 701, Brazos Street, Austin, TX 78701 Phone: (512) 956 - 5454 13355 Noel Road, Suite # 1100, Dallas, TX 75240 Phone: (972) 375 - 9654 501 N. 4th Street, Killeen, TX 76541 Phone: (254) 213 - 4740 Phone: (404) 994 - 5074

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