FAQ: Data Breach for Customer Information

In today’s digital economy, data is the new currency. But with that value comes risk. A data breach for customer information can cost a company millions, destroy brand trust, and invite regulatory fines. According to IBM’s Cost of a Data Breach Report, the global average cost of a breach in 2023 was $4.45 million—a number that continues to rise.

For CEOs, CISOs, and IT managers, understanding how data breaches occur, how to respond, and how to prevent them is no longer optional. This guide explains everything you need to know about protecting customer information.

What Is a Data Breach for Customer Information?

A data breach occurs when unauthorized individuals gain access to sensitive customer data. This can happen through hacking, phishing, insider negligence, or even lost devices.

Common types of customer data exposed include:

• Personally Identifiable Information (PII): Names, addresses, phone numbers, Social Security numbers.

• Financial ...