Why Your Business Requires Security

The States and Federal Identity Theft and Privacy Protection Laws now require businesses, agencies and organizations of all sizes to protect all personal information they store, and report to all their customers whenever a breach occurs. The financial ramifications after having a data breach can be very substantial to both present and future business. In some many cases a company never does recover from a breach and is forced to close down. Currently, the average cost on a company is $3.7M per incident.

Data Breach Cost Heartland Millions


Heartland Payment Systems security breach contributed reported Q1 earnings revealing a $2.5 million loss where the data breach accounted for $12.6 million. A large fine levied by MasterCard accounted for most of these costs. CEO Bob Carr said the company’s work to address post-breach fallout was a costly diversion and they are implenting a costly end-to-end encryption system to help prevent future breaches.  Click here to read the entire article from Associated Press.

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