The average total cost of a data breach is US$3.86 million, the USA being the most expensive country to such data breaches.
Negligence and mismanagement by enterprises often leads to the data breach. This is true for organizations whose primary intention is to deploy services that can benefit the customers. These organizations are data-intensive and accumulate personal data of the clients to continue operations. However, clumsiness in monitoring the data ensures big data breach, thus jeopardizing the reputation of the clients.
For example, a data breach in an insurance software company Vertafore led to the breach of personal information
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