With cybercrimes on the rise, safeguarding personal data is more important than ever. There have been 2,116 data compromises as of September 2023, a 17% increase compared to 2022.1 The result? An estimated 233 million Americans have been affected.1
So what can individuals do to better protect themselves? Learn about data breaches and how they can affect everyday people, along with potential considerations to stay protected and make secure online payments.
A data breach — also known as a cyber breach — may occur when unauthorized parties successfully access and obtain sensitive or confidential information, including personal, financial, or corporate data. For individuals, this may include Social Security numbers, bank account information, or healthcare data.2
There are various causes for data breaches, all of which typically involve a general breach in security due to a cyber attack. Here are some examples:
Data breaches may lead to immediate consequences like financial losses, identity theft, invasion of privacy, reputational damage, and emotional distress. In the long term, individuals may continue to experience financial repercussions, ongoing privacy concerns, trust issues with organizations, and potential legal consequences.
The impact of a data breach ultimately depends on what information was stolen, what was done with the information, and any potential follow up steps taken to secure one’s related accounts.
Wondering how to safeguard personal data in the event of a cyber breach?
Here are some potential ways to help protect against data breaches:
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