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3 reasons why you should guard against data leakage

Publication date: 07/03/2024

Closed padlock protecting data

Did you know that Brazil is the 5th largest target of cybercrime? A survey by Roland Berger, a German consulting company, shows that the number of data leaks and cybercrimes has been growing considerably in the country.

In the first half of 2021 alone, for example, more than 9 million occurrences were recorded in the region, exceeding the total number for 2020. In the world ranking, we are only behind the United States, the United Kingdom, Germany, and South Africa.

As a result, many people began to think twice before entrusting their data to the digital universe. And companies that have suffered from this kind of problem have had a series of consequences that go far beyond what we imagine.

That’s why, in World Data Protection Month, we will learn about the main impacts caused by data leakage and convince you that preventing yourself from this practice is indispensable for your business!

1. Financial – and strategic data loss

Hooded man accessing leaked financial data in the company

Cyber-attacks, in general, are extremely high cost. This is because the expenses are not restricted to identifying and solving the problem, but also to all the work involved in damage containment and repairing the image of the affected company.

Therefore, businesses that suffer from data leakage face a very intense financial loss that can even be accompanied by a decrease in their customer base.

Furthermore, internal information and strategic plans, which are confidential, can also be affected at this time, causing the company to lose not only its element of surprise but even the advantage it had over its competitors.

2. Damage to business reputation

Person typing on a laptop and receiving positive feedback from clients

Imagine the following situation: your credit card number has been leaked. This has negative repercussions on your life, and even though it is possible to receive refunds for unauthorized purchases, you still suffer from the stress of dealing with this situation.

When you find out which company was responsible for this data leak, you wouldn’t do business with them again, right? After all, you don’t trust her to take care of your personal information after such a serious slip-up.

It is based on this thinking that a business faces major problems related to its image after a cyber attack. And regaining that trust, which has been built up over time, is a laborious and costly mission.

3. Legal Implications

General Data Protection Law

You have probably heard about the Brazilian General Data Protection Law, better known as LGPD, right? It was sanctioned in August 2018 and went into effect in September 2020.

Considered a major achievement for the Marco Civil da Internet (Brazilian Civil Rights Framework for the Internet), it establishes a series of rules about the collection, storage, treatment, and sharing of personal information. And among the many issues addressed, it even addresses the issue of data leaks.

According to the standard, if information protected by the directive is disclosed in cyber-attacks, the company responsible for maintaining that data must pay compensation to all injured parties.

See how you should pay attention to preventive data leakage policies?

We were not exaggerating when we said that preventing data leakage is a major issue for your business. No wonder World Data Protection Month was created: to give visibility to an indispensable subject in today’s society.

Around here, we are always trying to bring you pertinent content and material, be it regarding new technologies or subjects that you should be aware of. Keep an eye on our blog so you don’t miss any special posts!

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