By: Content Team on February 20th, 2023
Impacts of a Breach [Video]
IMPACTS OF BREACH - EMPLOYEE
I'm going to tell you a story, a true story, about an employee who caused a data breach for their company and some of the repercussions that came from one small mistake. The timer began ticking, 71 hours and 59 minutes remaining. The large red popup on his screen had text that read "Your files have been encrypted" with information on how to pay the ransom of 5 Bitcoin before the timer ran out. It was like something out of a horror movie.
IMPACTS OF BREACH - COMPANY
Breaches can negatively affect the many different parties involved, but perhaps the hardest hit, would be the company that was breached. There are many obvious impacts of a breach, but also some overlooked aread that we all need to be aware of. Let's talk first about the financial implications. Depending on the breach and what was exposed, there may be many financial payments a company has to shell out after a breach.
IMPACTS OF BREACH - EXPOSED PARTY
Breaches have a lot of consequences. The employee that caused a breach could be fired, demoted, or have a difficult time advancing in their career with this stain on their record. Companies at fault during a breach face massive financial expenses, reputational damage, and job cuts. But there is another factor at play in a breach, and that is of the individual whose information may have been exposed. When a breach affects the sensitive information that a companny possesses, many times, it is their customer's personal information that is exposed to the cybercriminals.