Effective software security is essential because countless data security breaches take place daily.
The consequences can be disastrous for an organization, especially when the media gets hold of the details. Besides financial loss, a data security breach can destroy a company’s reputation. The media will assess, uncover, and publicize every detail of the breach. The hacked firm will then become a pariah “for allowing” such a horrible thing to happen.
It’s not unheard of for customers to sue a company that has been breached, especially if the data that was stolen contains personal information about clients such as Social Security numbers, birthdates, bank records, etc.
And then things can get even worse. A company that has suffered a major breach will likely see their stock prices plummet. No new business opportunities will manifest. The long-term reputation and revenue will suffer.
If government agencies decide inefficient software security measures were in place, the breached company could also be looking at substantial fines. The government might also mandate the company to provide identity monitoring services for millions of clients—free of charge to them.
Breached companies have been known to just call it quits.
A data breach is a very serious break-in. In an age of cybercrime, some of the most widespread cyber-based crimes include:
- Stealing information via hacking
- Carrying out virus attacks to bring computer systems down
- Implanting spyware with the intent of watching a person or their computer activities
And of course these examples are just a few of the many possible cybercrimes that can bring down an organization that isn’t property protected.
Cybersecurity professionals encourage all organizations – but especially government organizations, financial institutions, healthcare providers and insurance companies – to take data breach security seriously by ensuring that they have a strong software security program in place.
Want to learn more? Tonex Software Security Training Curriculum covers Business, Enterprise, Mobile and Web Application Flaws & Vulnerabilities. Participants will learn the importance of software security, secure development, threats, security guidelines, and mitigation to ensure that the software applications are completely secure.
For more information, questions, comments, contact us.