Potential consequences of a data breach for individuals and organizations include:
- Damage to individual reputation
- Loss of customer trust in the organization
- Legal costs associated with defending against claims
- Cost of notifying affected individuals and organizations
- Compensation and/or fines from regulators or other authorities
In order to minimize the risk of a potential data breach, consider the following actions:
- Encrypt sensitive data
- Implement access controls
- Train employees on cybersecurity best practices
- Create and regularly test a data backup plan
- Monitor for suspicious activity