Many companies accidentally leave their databases exposed on the web, and data breaches or security incidents occur daily. Unsecured and misconfigured servers often lead to data leaks that can become logistical and legal nightmares for companies, leaving the privacy and security of customers or company assets at risk.
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As bad actors continue to hone their skills and governments keep raising the penalty for getting breached, large organizations across the globe seem to be doing little to mitigate the risks associated with cybercrime – despite knowing better for years.
One of the biggest consumer credit reporting agencies in the United States is learning a harsh lesson. A massive breach that affected personal information of 143 million U.S. consumers has led to the forced retirement of Equifax’s chief information officer and chief security officer, a 13 percent drop in market valuation, several class action lawsuits and a deterioration in public trust.