Dotting the I’s and Crossing the T’s: How to Keep Data Safe in the Era of Endless Information

A World of Endless Data

You may not think about it, but you are constantly generating data. From the second you wake up until you lay down to sleep (and even throughout the night) you are creating thousands of bytes of data, some of which tell a unique story about you.

Whether it’s the fitness tracker you wear on your wrist to measure your daily steps, to the payment cards you swipe, insert, or tap to buy that cup of coffee, your data is everywhere. While some of that information is harmless, other sensitive data, like your credit card and other personally identifiable information (PII), is incredibly valuable to companies and cybercriminals alike.

Businesses do their best to protect their customers’ financial data, but mistakes happen to allow a data breach to occur. The costs associated with losing private customer information are high, often in the millions of dollars, and the damage to a company’s reputation and goodwill often takes years to repair.

Protecting Customer Data

With all this sensitive information floating around, what is being done to maintain and keep financial data safe?

PAR’s Data Security Whitepaper discusses several topics, including:

  • The effects of fraud and security breaches
  • What is being done to reduce fraud and cyber attacks
  • SOC 1 and 2 standards
  • The rise of EMV, PCI DSS and PA-DSS regulatory compliance requirements
  • The changing world of personal data protection through GDPR and CCPA
  • Future of Security in the U.S. and Globally

Are Companies Doing Enough to Protect Your Information?

When a hacker steals a company’s financial or personal information, it can be crippling; not just for the company, but for the people who have had their data stolen from them. More than 40% of Americans say they’ve been involved in a security breach, and that directly impacts the amount they’re willing to spend with brands that don’t respect the data.

Fines, legal fees and lost future revenue are only a few of the issues non-compliant companies face during a security breach. However, as governmental organizations around the world take back control of their data, the stakes are getting higher and penalties are getting harsher.