To see the negative financial impacts of a breach of sensitive customer data, look no further than Target Corp., where a holiday-season data breach of up to 110 million credit and debit card accounts cost the company $61 million.
A new study supports the idea that becoming the next Target can be toxic, particularly for companies that store customers’ personally identifiable information (PII). The report, “Avoidable Collateral Damage from Corporate Data Breaches,” was commissioned by sensitive data solution provider Identity Finder. The report also found that many companies offer identity protection services (IDPS) to customers postbreach, but these tools may not be effective.
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