A big fear in many businesses is the occurrence of data breaches. Data breaches can strike at any time due to a number of factors and leave devastating results. There are many criminals online and off that are looking for attention, looking to make some extra money, or looking to simply burn your business. With new technological advances, completing a security breach has become an easy task with a little bit of skill, patience, and motive.
The average cost of a breach is around $277 in the United States, and $214 in Germany. These numbers aren’t the total cost for a breach; they are the loss per records. The average number of records lost is 2,300.
Big Causes Of Data Breaches
All types of business are vulnerable to these breaches from large franchises to small startups. Don’t ever think that your business is an exception and let your guard down. There are many breaches each month that can be prevented, but what can you look out for if you don’t know the reason a breach takes place? Knowing the most common causes can be the start in protecting your business from this disaster. Below we have mentioned the 3 big causes of data breaches.
1. Weak Passwords
Hacking is one of the biggest causes of security breaches. To limit the people who have access to your systems, it is best to use strong and unique passwords. Around 76% network intrusions noted are due to weak passwords guarding the devices.
When devices such as laptops, tablets, cell phones, computers, etc. are ‘protected’ with weak passwords, hackers can easily break into your systems and steal information. Weak passwords in business emails result in the hack of emails. This exposes subscriptions, important information, and financial information as well as allows hackers to sign up on websites using your email address and business name, possible ruining your reputation.
Your payment processor (such as PayPal) should be handled with the more care and security. When the processor is not guarded with a strong password, your account can be hacked and wiped out of its funds.
2. Negligent Employees
In a time of stress, exhaustion, or horseplay your employees can start to neglect the importance of internet security. When this occurs, your business is at a higher risk for accidently exposing sensitive information to the public. Around 35% of breaches happen because distracted employees are trusted to handle documents, and let them slip away.
3. Malicious Attacks
More than 37% of security breaches were caused by malicious attacks in 2012. There are many types of malicious attacks that can happen within a business. Some malicious attacks can happen when website source codes, business plans, customer information, billing information, or propriety software is leaked.
Always complete a thorough check of the new employees you hire because a lot of malicious attacks are from insiders who has access to business information. These are the causes of data breaches and they happen often in every type of business, and it is important to properly secure and protect your information. If you want to be saved from a costly breach, setting up a plan to help prevent and solve breaches is the best option for a successful business with low risks.