Rise in data breach hits customer loyalty


Less than 1 percent of all of the data breaches in the second quarter happened to networks that used encryption or strong security platforms to protect the data.

Data breaches are on the rise, hitting customer loyalty, as they do not want to shop or do business again with a company that had experienced a data breach. More than 175 million records were compromised between April and June due to 237 data breaches, bringing the 2014 total to 375 million records affected and 559 data breaches. These numbers are from SafeNet’s Breach Level Index second quarter report.

The report found that while data breaches cross barriers such as geography, industry vertical and organization size, retail was the hardest hit industry, with more than 145 million records stolen, or 83 percent of all data records breached, followed by government, financial services and healthcare.

Another important finding in the report is that less than 1 percent of all of the data breaches in the second quarter happened to networks that used encryption or strong security platforms to protect the data. While every security system cannot be foolproof, there are chances of avoiding a breach by putting a strong security practices in place, says the report. At the same time, it is worrisome to think how many businesses are still lacking when it comes to network security. A sound security approach is vital to any company’s success, says SafeNet adding that once a customer discovers a company has been breached, he or she is not likely returning to the site

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