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Data Breaches Wallop Customer Confidence

We’ve mentioned before that poor data security has a hefty price tag. The Equifax breach earlier this year shows just how expensive it can get. The company’s third quarter earnings results show that it’s already spent $87.5 million in things like investigation and remediation. More significantly, Equifax’s revenues dropped 42 percent over the quarter, and it’s lost more than 25 percent of its stock valuation.

Yes, information is Equifax’s core business, which makes the failure to protect it even more significant than a breach at a retailer such as Target. But in a broader sense, we think any company risks alienating shareholders and customers by losing control of its sensitive information. To find out how to protect yours, visit Xantrion Managed Security or contact us.