Data Breach

Data Breach

Data Breach Jonathan Poland

A data breach is a security incident in which sensitive, protected, or confidential data is accessed, disclosed, or stolen. Data breaches can occur in a variety of ways, including through cyber attacks, physical theft, insider threats, or accidental disclosures. The consequences of a data breach can be significant, as it can lead to financial losses, reputational damage, and legal liabilities for the affected organization. It can also have serious consequences for the individuals whose data has been compromised, as it can lead to identity theft, financial fraud, and other forms of harm.

There are several steps that organizations can take to prevent and respond to data breaches. These include implementing strong security measures, such as firewalls, encryption, and authentication protocols, as well as establishing policies and procedures for handling sensitive data. It is also important for organizations to have a plan in place for responding to a data breach, including protocols for notification, investigation, and recovery. Overall, data breaches can have serious consequences for organizations and individuals. By implementing strong security measures and having a plan in place for responding to a data breach, organizations can minimize the risk of a data breach occurring and take steps to protect themselves and their customers.

The following are illustrative examples of a data breach.

  • Trade Secrets – An employee emails trade secrets to her friend who isn’t authorized to access it.
  • Contacts – A salesperson loses an folder filled with business cards of customers.
  • Financial Credentials – A retailer loses the financial credentials of millions of customers to an advanced persistent threat.
  • Authentication Credentials – An email service is hacked resulting in the loss of authentication credentials such as passwords.
  • Communications – A video chat app losses videos of millions of personal conversations due to a security flaw in its public API.
  • Medical Data – A doctor sends a patient someone else’s medical data.
  • Personal Data – A virus allows an individual to look at the files on a person’s mobile device including photos, contacts, communications and receipts of financial transactions.
  • Photos – A cloud storage app is hacked resulting in the publication of private photos to the public.
  • Employee Records – A technician loses a backup containing thousands of employee records including highly confidential details such as salary and medical insurance claims.
  • Designs – A computer is stolen from an office that contains the confidential product design of an upcoming mobile device.
  • Financial Data – An employee in accounting mistypes an email address and accidentally sends confidential information regarding a company’s quarterly financial results to an outside domain.
Learn More
Economic Change Jonathan Poland

Economic Change

Economic change refers to shifts in economic conditions, such as changes in GDP, employment rates, and prices. These shifts can…

Information Advantage Jonathan Poland

Information Advantage

A unique knowledge that provides a competitive edge in a specific situation is known as an information advantage. This advantage…

Marketing Technologies Jonathan Poland

Marketing Technologies

Marketing technology, or “martech,” refers to the tools and software used to support marketing efforts, such as advertising, brand management,…

Commoditization Jonathan Poland

Commoditization

Commoditization occurs when certain products or services become interchangeable, leading customers to focus on price as the main factor in…

Financial Controls Jonathan Poland

Financial Controls

Financial controls are the policies, procedures, and processes that an organization puts in place to manage and protect its financial…

Solution Selling Jonathan Poland

Solution Selling

Solution selling is a type of sales approach that focuses on offering customers a tailored solution to their problems, rather…

Market Forces Jonathan Poland

Market Forces

The interaction that shapes a market economy. Market forces are the factors that determine the supply and demand for a…

Types of Market Research Jonathan Poland

Types of Market Research

Market research is the process of systematically gathering and analyzing information about a market, including customers and competitors. This information…

Phased Implementation Jonathan Poland

Phased Implementation

Phased implementation is a method of developing and introducing a business, brand, product, service, process, capability, or system by dividing…

Content Database

Search over 1,000 posts on topics across
business, finance, and capital markets.

Cost of Capital Jonathan Poland

Cost of Capital

The cost of capital is the required rate of return that a company must earn on its investments in order…

Product Requirements Jonathan Poland

Product Requirements

Product requirements refer to the documented expectations and specifications that outline the desired characteristics and features of a product or…

Types of Win-Win Jonathan Poland

Types of Win-Win

Win-win, also known as mutually beneficial, refers to a situation or plan that has the potential to benefit all parties…

Abundance Mentality Jonathan Poland

Abundance Mentality

Abundance mentality is the belief that there is enough for everyone and that abundance, rather than scarcity, is the natural…

Team Strategy Jonathan Poland

Team Strategy

A team strategy is a plan that outlines how a team will achieve its goals. Developing and implementing a strategy…

Due Diligence Jonathan Poland

Due Diligence

Due diligence refers to the level of investigation, care, and judgement that is appropriate and expected in a given situation.…

Fourth Industrial Revolution Jonathan Poland

Fourth Industrial Revolution

The fourth industrial revolution, also known as Industry 4.0, refers to the current transformation of the economy towards the widespread…

Compliance Risk Jonathan Poland

Compliance Risk

Compliance risk refers to the risk that an organization may face as a result of not complying with laws, regulations,…

Types of Process Jonathan Poland

Types of Process

A process is a systematic, controlled, and repeatable way of working that is used to achieve specific goals or outcomes.…