| | OCTOBER - 2020ENTERPRISE SECURITY6Today, data breach statistics show that hackers are highly motivated by money to acquire data, and that personal information is a highly valued type of data to compromise. It's also apparent that companies are still not prepared enough for breaches even though they are becoming more commonplace.Companies that experience a data breach involving customers have to establish where their customers reside and which regulatory authority has jurisdiction. Regulations define the type of data for which notification is required after a breach and they define who has to be notified, how the notification has to be carried out and whether specific authorities have to be notified. Typically breaches involving personal, financial and health data are subject to notification requirements but exact definitions vary for different jurisdictions. Companies doing business internationally may have customers in many jurisdictions and may have to comply with a variety of requirements. The costs of such a process together with legal penalties, possible compensation for damages and any resulting lawsuits can be high enough to constitute an existential threat to some companies.Strong, multi-layered security can be costly for a company to implement internally. Between licensing fees, the cost of whatever hardware a specific security solution requires, and labor required for maintenance and update management, the cost of a full suite of strong security solutions can be immense. Also, since the cloud provider typically handles maintenance and updates for the cloud environment and its security measures, businesses can save labor on these maintenance tasks. This allows a company's internal IT department to focus on other tasks to drive results for the business.Organizations need to identify what information is of value for the business. If they capture all the information available, they risk wasting time and resources processing data that will add little or no value to the business. Leveraging modern frameworks, organizations and their MSSP partners can efficiently assess, implement and grow their security posture by using a common language to share information on threat actors, tactics and techniques.The New World of Fraud and Data BreachEditorialRussell Thomas Managing Editor russell@enterprisesecuritymag.comOCTOBER - 05 - 2020, Volume 06 - 19 Published by ValleyMedia, Inc. ISSN 2691-4034To subscribe to ENTERPRISE SECURITYVisit www.enterprisesecuritymag.com Copyright © 2020 ValleyMedia, Inc. All rights reserved. Reproduction in whole or part of any text, photography or illustrations without written permission from the publisher is prohibited. The publisher assumes no responsibility for unsolicited manuscripts, photographs or illustrations. Views and opinions expressed in this publication are not necessarily those of the magazine and accordingly, no liability is assumed by the publisher thereof.Managing EditorRussell ThomasEditorial StaffAaron PierceAlex D'SouzaAva GarciaJustin S GonsalvesJoshua ParkerSurajit Narayan DekaVisualizersIssac GeorgeSalesAlena D'Souzaalena@enterprisesecuritymag.comContact Us:Phone:510.757.1040Fax:510-894-8405Email:sales@enterprisesecuritymag.comeditor@enterprisesecuritymag.commarketing@enterprisesecuritymag.com*Some of the Insights are based on the interviews with respective CIOs and CXOs to our editorial staff
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