Why It’s Important for Companies to Prepare for a Data Breach

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  •  Dec 03, 2014
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The expanding number of access points to Protected Health Information (PHI) and other sensitive data via electronic medical records make the healthcare industry vulnerable for Cybercriminals, Experian.

Preventing and managing data breaches have become two of the highest priorities facing businesses today. Experian Data Breach Resolution announces the release of its second annual Data Breach Industry Forecast, a white paper outlining key issues and trends to watch for in 2015.

"It has been an explosive year with an increase in the number of data breaches and identity theft cases over last year, so we are sharing our perspectives with the industry to help businesses navigate this complex environment," said Michael Bruemmer, vice president at Experian Data Breach Resolution. "It is more important than ever for companies to prepare for a data breach and stay ahead of the game."

The white paper addresses several data breach industry areas:

The rise — and fall — of payment breaches: Adoption requirements for Europay, MasterCard and Visa (EMV) "Chip and PIN" technology being implemented later this year may drive an increase in the frequency of payment breaches as the window closes for hackers to profit from this type of attack on brick-and-mortar retailers. However, businesses should be wary of the potential for the new infrastructure creating a false sense of security for consumers. 

The persistent and growing threat of healthcare breaches: The expanding number of access points to Protected Health Information (PHI) and other sensitive data via electronic medical records and the growing popularity of wearable technology make the healthcare industry a vulnerable and attractive target for cybercriminals. Several factors suggest the healthcare industry will continue to be plagued with data breach headlines in 2015.  

A fresh breach surface via the Internet of Things: Like it or not, the Internet of Things is spreading rapidly, offering a wide range of benefits for businesses looking to review data and optimize performance. More devices are being created with Wi-Fi capabilities and sensors that create the opportunity for everyday items to relay information over the Internet and communicate with each other. As more companies adopt interconnected systems and products, cyberattacks also will likely increase via data accessed from third-party vendors.

 


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