Data443 Risk Mitigation Inc (ATDS)

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10 Bay Area businesses hit with security breaches and privacy snafus in 2018

"Across the Bay Area, companies are trying to lock down their data against cyberattacks and protect customers’ privacy – but it can be a losing battle.

This year alone, for example, the average global cost of a data breach for businesses jumped 6.4 percent to $3.86 million over last year, while the cost of a stolen record full of sensitive and confidential information climbed an average of 4.8 percent to $148 from the previous year, according to a report by the Ponemon Institute.

Bay Area companies are facing an onslaught of attacks, which could potentially put all or a portion of their customers and users at risk. Giant public companies such as Facebook and tiny local nonprofits such as the Institute on Aging have been grappling with the problem."

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https://www.bizjournals.com/sanfrancisco/news/2018/10/21/10-businesses-hit-with-security-breaches.html

What US Companies Can Learn About Compliance From Their UK Counterparts

"As data silos continue to break down and digital commerce sales skyrocket, cybersecurity promises to take center stage. According to a report from PwC, half of all U.K. companies have fallen victim to fraud over the last two years. While the financial impact of fraud has been widely documented, there are plenty of other costs to consider as well. More than 75 percent of U.K. organizations that have experienced fraud believe it has negatively affected business relations as well as employee morale.

To help combat cybercrime, companies within the U.K. are making every effort to comply with new regulations – including an updated Payment Services Directive (PSD2) and General Data Protection Regulation (GDPR). By making financial records more widely available, increasing transparency and introducing stronger protections of consumer data, regulations stand to encourage data sharing between businesses without exposing consumers to fraud.

Recent news, however, suggests American businesses aren’t as prepared for the changing regulatory landscape. On the very first day GDPR went into effect, Facebook and Google were accused of violating a provision on consumer consent. U.S. banks and digital businesses still have a long way to go toward striking the right balance between security and customer satisfaction. By following in the footsteps of U.K. companies that have embraced new regulations, U.S. companies can craft a customer experience that is both seamless and secure."

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https://www.informationsecuritybuzz.com/articles/compliance-from-their-uk-counterparts/