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You Can’t Afford a Data Breach

A data breach can cost your company millions
26 March, 2020 / Jenny Lott

In June 2005, a multinational financial services corporation announced that in early May of that year, UPS had picked up a box of computer tapes containing the sensitive information of 3.9 million customers to be shipped to a credit reporting agency. The box never reached the destination. In 2006, the U.S. Department of Veteran Affairs lost a laptop containing information about 26.5 million veterans. The department ultimately agreed to a $20 million settlement, avoiding the potential $26 billion payout.

Through the years, hundreds of companies have experienced data breaches, placing millions of customers and employees at risk of fraud and identity theft. Causes of data breaches include hacking, insider leaks, poor security, accidental uploads, and—as in the aforementioned cases—lost or stolen media. Organisations that fall victim to data breaches can be liable for millions of dollars in damages, and most don’t have taxpayer money to bail them out.

Cases like these highlight a major threat to any organisation’s security: storage devices. Assets such as laptops, hard drives, phones, and USB drives with sensitive data pose a great risk in the wrong hands. According to recent research by Blancco, “A third of the world’s largest enterprises use inadequate data sanitisation to prevent data breaches at end-of-life,” and 4 percent use no data sanitisation method at all. Assets which have not been properly sanitised are dangerous in the wrong hands.

Deleting files and formatting drives aren’t enough. In order to protect your data, you need certified data sanitisation and destruction. Finding an ITAD vendor to keep your company safe shouldn’t be a challenge. EPC offers certified data sanitisation and destruction according to NIST standards. Contact us for more information.