4 Things Learned From Data Breaches

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The year 2014 might as well be dubbed the Year of the Hacks with so many businesses coming under fire for “allowing” data breaches. No matter how small or big a business (ahem, Target), it seems that any system can be compromised. However, once investigators start digging, they often find that most of these hacks are preventable. Not all hackers are going to actually use the information they get, but “hacking” into a major system is instead seen as a prize in itself.

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Of course, data protection starts with having the right technology, and moves forward by managing it well. Once data breaches are reported on, it’s shocking how shoddy, outdated and ill-maintained the tech of some major companies are. Hopefully 2015 will be a safer, more secure year for everyone. The good news, already, is that there are some big things to learn from data breaches:

  1. A company’s Size doesn’t Directly Correlate to their Security

One of the biggest reasons consumers say they don’t go with a startup is because they’re worried about protection. While there’s plenty of information on, for example, the best and worst banks in the country from outlets like Forbes, people still flock to the “known names” mostly out of security. However, if breaches have taught people anything, it’s that a big size and a big budget doesn’t guarantee the most security.

  1. Cleaning up ID Theft can Take a Long Time

If a customer’s information is accessed and put to use, it can take several years to clean up such a mess. There are plenty of horror stories about ID theft, such as those reported by ABC News, but once a headline has been digested it’s often forgotten the next day. However, that isn’t the case for the actual victim, who spends precious time and a lot of money fixing things.

  1. Your Bank is Savvier than you think

Many people are surprised when their banks and other financial institutions “catch” identity theft or hackers trying to access their cards and put a stop to it. Other times, many banks are quick to open a case, reimburse the funds and get their customers protected with new account numbers.

  1. Not All Hacks are Malicious

The first thing people imagine when they hear about a security breach is that all their money will be stolen. However, there are plenty of hackers who simply want to cause a little trouble (like taking down a site) or point out vulnerabilities to a business.

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