Fall-outs from infamous data breaches
In a blog on IT Governance dated February 17, 2015, Julia Dutton (Link here) wrote about the expenses and other ramifications that companies caught with a data breach have endured and could encounter in the future. We are talking lawsuits, remediation (both for the company and its customers), more investigations, and possible firings of top executives. Any organization that does not take its IT security seriously could be find themselves paying out millions of dollars to potential victims of any data breach from their files. Lawsuits are now proceeding Target from the banks that had to pay out to replace the compromised credit cards. If you think you are safe, that is the first clue that you need more security. No one is safe anymore, about the best we can do is to do our best to protect our assets and our customers from data breaches. Like Jeff Mueller, FBI Director once said, “There are only two types of companies: those that have been jacked and those that will”.