Major data breaches have increased from a few per year to around 20 major incidents in 2024 alone, as reported by TechRadar on May 22, 2024. These breaches have impacted businesses, healthcare, and infrastructure across North America, Europe, and Japan.
We may wonder when this trend will reverse or at least slow down. Unfortunately, the answer is likely never unless we fully comply with regulations like CCPA, GDPR, HIPAA, and GRC, and ensure the encryption of data both at rest and in motion.
Despite fines reaching hundreds of millions or even billions of dollars, many companies continue to neglect proper data protection measures-an oversight I consider egregious.
Why so harsh? Because regulatory compliance and data protection are achievable goals if companies commit to them. The cost of compliance, while significant, is manageable and far less than the potential losses from a catastrophic breach, which could erase years of efforts to build a reputation and client base.
So, why not just do it? I've spoken with numerous companies that offer excuses such as being too large with too much data-an issue that modern computing power can handle. Some rely on legal advice suggesting they can delay consequences in court, a dangerous misconception as C-level executives and board members face severe civil and criminal penalties.
Others claim that achieving compliance would take too long and disrupt business operations. While this argument has some merit, the reality is that, with proper planning, architecture, and expert resources, the necessary changes can be implemented in months, not years. Investing in top-tier experts rather than cutting corners will ensure success. The size of the company is less relevant than the volume of personally identifiable information at risk.
We must stop contributing to the $10 trillion global cybersecurity breach sector, which negatively impacts markets worldwide. Again, just do it.
Contact me at steven@corporate-payback.com or call 847-440-4439 for more information.
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26 май 2024
