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
Persistence Jonathan Poland

Persistence

Persistence is the ability to maintain motivation and effort over a prolonged period of time. It is a behavior or…

Product Benefits Jonathan Poland

Product Benefits

A product benefit is the value that a customer derives from a product or service. It is what makes the…

What is Dumping? Jonathan Poland

What is Dumping?

Dumping refers to the act of selling a product or service in a foreign market at a lower price than…

Serviceable Available Market Jonathan Poland

Serviceable Available Market

The Serviceable Available Market (SAM) is a term used to describe the portion of a market that is capable of…

Fiduciary Duty Jonathan Poland

Fiduciary Duty

Fiduciary duty refers to the legal obligation of one party to act in the best interests of another party. This…

What Is Analysis? Jonathan Poland

What Is Analysis?

Analysis is the process of breaking something down into its component parts in order to better understand it. This is…

Federal Grants 150 150 Jonathan Poland

Federal Grants

The US government grant money is divided into a variety of categories, including: Social programs: These programs provide assistance to…

Creative Ability Jonathan Poland

Creative Ability

Creative ability is the talent or aptitude for creating ideas or products that are original, valuable, and impactful. This can…

Customer Service Principles Jonathan Poland

Customer Service Principles

Customer service principles are guidelines that an organization follows to shape its service strategy, policies, procedures, measurement, and culture. These…

Content Database

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

Venture Capital Jonathan Poland

Venture Capital

Venture capital is a type of private equity financing that is provided to early-stage, high-risk, high-potential companies. Venture capital is…

Willingness to Pay Jonathan Poland

Willingness to Pay

Willingness to pay (WTP) is a measure of how much a customer is willing to pay for a product or…

Algorithms Jonathan Poland

Algorithms

An algorithm is a set of instructions or rules that are followed to solve a problem or accomplish a task.…

Government Contract Timeline 150 150 Jonathan Poland

Government Contract Timeline

A government contract award timeline can vary depending on the specific country, agency, and procurement process in question. In general,…

Cost Variance Jonathan Poland

Cost Variance

Cost variance (CV) is a project management metric that measures the difference between the budgeted cost of a project and…

Agency Cost Jonathan Poland

Agency Cost

An agency cost is an inefficiency that arises when there are differences in the motivations and access to information between…

Calculated Risk Jonathan Poland

Calculated Risk

Calculated risk is an essential concept in the field of risk management. It refers to the process of carefully assessing…

Value Proposition Jonathan Poland

Value Proposition

A value proposition is a statement that explains the unique value that a company offers to its customers. It is…

Persistence Jonathan Poland

Persistence

Persistence is the ability to maintain motivation and effort over a prolonged period of time. It is a behavior or…