Monitor Customer Data
and Ensure Data Privacy
The strength of a business is
measured by the loyalty and size of its customer
base combined with a track record and future roadmap
for providing quality products and services. It is
no surprise then that enterprises are so concerned
with protecting their customer information and
intellectual property. The repercussions of data
leaks in any of these areas could result in
competitors poaching customers from the data leak
victim and going to market with a similar solution
at lower cost. Even worse, publicity around a known
data leak in these areas tarnishes the company brand
and reputation and will almost certainly result in
attrition of their customer base.
The
results of such breaches can be far-reaching.
Organisations must not only bear the expense of
fines, remediation (e.g. credit monitoring, user
notifications), but also any resulting loss of
shareholder and customer confidence, impact on
reputation, brand, stock value, and even potential
criminal penalties. Dealing with a data security
breach is disruptive to business and can give
competitors an advantage. It does not matter whether
breaches are accidental or deliberate; what matters
is that the organisation is perceived to have failed
in its duty to care for personal and confidential
information. |
