Data breaches are happening more often than ever. Learn how to protect your company from becoming the next victim.
Every day, businesses of all sizes face the risk of a data breach. From healthcare providers, financial institutions, enterprise systems, and retail stores, no organization is immune. Unfortunately, we are all now aware of the consequences of a data breach, ranging from financial loss to damage to a company’s reputation. In some cases, data breaches have even led to the loss of customer trust and legal action. As a result, it is essential for businesses and organizations to take steps to protect themselves from the threat of a data breach.
In July 2022, Marriott International confirmed that hackers stole20 gigabytes of sensitive data. The breach resulted from a social engineering attack, in which an anonymous hacking group tricked an employee into granting them access. This is just the latest in a string of high-profile data breaches that have recently hit major corporations. In 2017, Equifax suffered a massive breach, exposing the personal information of over145 million people. In 2018, Yahoo! announced thatall 3 billion user accountshad been hacked. And in 2019, the credit reporting agency Experian was hit with a data breach that affected24 million people. As our lives move increasingly online, protecting sensitive data is becoming more critical. But as these breaches show, even the most well-protected data can eventually fall into the wrong hands.
According to recent Ponemon Institute reporting, the average data breach cost is$3.86 million. Data breaches are becoming more frequent, with4,000 records being compromised every minute. Worse, many common security measures are not enough to stop the problem. Two-factor authentication, for example, is often used to protect online accounts. However, two-factor authentication is not foolproof. In 2018, Forbes reported that two-factor authentication had been bypassed in several high-profile data breaches. Investing in strong security measures is essential as businesses rely more on digital data. Otherwise, they risk facing costly fines and damage to their reputation.
Unfortunately, planning for data breaches has become part of everyday practice for administrators and executives. The cost of these breaches can be staggering in terms of financial losses and damage to a company’s reputation. So how can executives protect their companies from these devastating attacks? The first step is to understand the changing threat landscape consistently. Data breaches occur through various means, including hacking, social engineering, and physical theft. Ongoing training and resources for your employees, including ensuring they understand how to protect sensitive data, spot suspicious activity, and what to do if they suspect a breach has occurred, must remain an ongoing practice.
This starts with the basics, like encrypting data, implementing access controls, and conducting regular security audits. It does not end there as an investment in data security technologies, such as firewalls and intrusion detection systems, and ensuring you have partnered with the best-managed security service provider who can help identify risks and vulnerabilities and provide around-the-clock monitoring and response services also must remain an ongoing practice.
The Botdoc Way
At Botdoc, we start where breaches typically occur – with sensitive documentation and data. For clients in all industries globally, sending and receiving filesSECURELYis challenging and inconvenient when dealing with snail mail, fax machines, efax accounts, secure email, or online software portals that consumers are forced to use but never do. All these provide pain points for businesses and consumers, and in each of these situations, the consumer must pay for something, own something they don’t use daily, or have an account/password for a secure file transport system they may never use again or in any other capacity.
Botdoc provides easy, secure customer-centric remote real-time end-to-end encryption at no cost to consumers, with no logins, passwords, 3rd party portals, pin numbers, software, and apps when sending and receiving information. And it can still all be sent through a mobile device or email!
Botdoc’s encryption is unique because it is consumer-focused which means that it was designed with the user in mind from the beginning. When you compare this to other similar solutions on the market, it’s clear that we provide superior service without any added cost or complexity for the consumer. Thanks to our innovative technology, you can rest assured that your information is safe and secure when using Botdoc. Whether you’re sending personal data, financial records, or confidential business files, Botdoc has you protected.