Verity Systems has seen an increase in business data breaches since the end of the summer with the upcoming elections weighing heavily on data security.
The world’s leading manufacturer of data security devices including hard drive degaussers and destroyers noted that since September, the number of businesses reporting data security concerns was up by more than 25% according to its latest market research.
Among the concerns included the possible repercussions of data breaches occurring since the enactment of CCPA and other global data laws. In a separate study by IBM, the average cost of data breaches for American companies was now $3.86 million per incident. Several data breaches in the healthcare sector have also led to settlements of over $50 million in the past week alone.
With the elections just around the corner, businesses are facing record levels of cyber attacks and data theft, and continue to invest in infrastructure to mitigate the loss of personal data and client information.
“Businesses need to make sure they fully erase their hard drive data to avoid the potential damages associated with data theft. We recommend degaussing and data destruction where possible to erase information securely from mechanical hard disks as well as SSDs,” said David Tucker, President of Verity Systems.
As businesses prepare for a potentially contested election, disruption from COVID-19 and further data regulation, it’s becoming increasingly vital for companies to have a transparent data protection process that ensures data for clients as well as employees is safety removed and erased when no longer in use.
Does your business have a data protection policy?