What are the Consequences of a Data Breach for Businesses?
The consequences of data breaches can be severe: - Financial Penalties: Businesses may face hefty fines from regulatory bodies. - Legal Action: Victims of data breaches may sue the company for damages. - Loss of Business: Customers may lose trust and take their business elsewhere. - Reputational Damage: The company's brand and reputation can suffer long-term damage. - Operational Disruption: The business may need to allocate significant resources to address the breach and restore normal operations.