The risk of data and identity theft is on the rise and PwC understands that data losses can be devastating and risks are substantial, including compromise of company IT systems, direct financial impacts from investigations and customer lawsuits, erosion of brand reputation, loss of customers, government fines and regulatory mandates. Having strong data safeguards in place can help secure a company's reputation, competitiveness, and financial well-being.
The portability and accessibility of information are crucial components of a collaborative, interconnected business world. However, the problem with sharing information is that it can get shared with the wrong people.
Whenever highly sensitive or regulated information is lost, misused, or compromised, it falls under the banner of data and identity theft. Intellectual property, personally identifiable information (birth dates, Social Security numbers, addresses, etc.), trade secrets, employee and customer data, and payment card data are all examples of sensitive or regulated information.
Data losses can be devastating. Besides potential fines and lawsuits, security breaches can have a long-term impact on a company’s brand and reputation. Having strong data safeguards in place can help secure a company’s reputation, competitiveness, and financial well-being.