With businesses holding more data than ever before, the frequency of cyber breaches grows exponentially. A recent survey showed that there were over 1,792 reported data breaches in 2016 alone. The breaches compromised almost 1.4 billion data records. Furthermore, studies suggest that most of these fraudulent activities were orchestrated by someone close to the business – such as a partner or employee.
To safeguard themselves and their clients, businesses need to have data security measures in place. These begin with carefully evaluating the data that is in their hands, securing it and then outsourcing it if necessary.