Surrey, United Kingdom Nov 29, 2023 (Issuewire.com) - Geeky News, a prominent technology and lifestyle journal, has just released a comprehensive article. Using the recent Taj Hotels incident as a case study, the piece sheds light on the alarming repercussions businesses face in the aftermath of data breaches.

Taj Hotels is a subsidiary of the Indian Hotels Company Limited (IHCL). In a recent breach, this luxury hotel chain fell victim to a data breach orchestrated by the threat actor, Dnacookies. The compromised data includes customer contact details, addresses, membership IDs, and other personally identifiable information (PII) of approximately 1.5 million individuals.

The cybercriminal claims to have accessed customer data spanning from 2014 to 2020 and demanded a $5,000 ransom for the full dataset. 

In response to the breach, the IHCL has initiated immediate investigations. The company has assured stakeholders that there is no indication of an ongoing security issue or impact on business operations.

Geeky News underscores the severity of data breaches in the current cyber threat landscape. It highlights the rising sophistication and complexity of cybercriminal activities. Recent breaches, such as the attack on Save the Children International, further emphasise the critical need for robust data security measures. The nonprofit organisation was hit by cybercrime gang, BianLian. About 6.80 terabytes of business-critical data was exposed, of which over 800 gigabytes was financial, health, and medical information.

The article explores the multifaceted repercussions of data breaches. It talks about the loss of customer confidence and long-term damage to brand reputation. It also highlights how these cause substantial financial setbacks. According to recent statistics, the global average cost of a data breach in 2023 exceeded $4.45 million, marking a 15% increase over three years.

Recognising the need for proactive Data Security Posture Management (DSPM) strategies, Geeky News highlights services like BigID. These implement robust approaches to protect mission-critical data across various storage platforms. Such measures ensure comprehensive security in on-premise, hybrid, and multi-cloud environments.

As businesses navigate the evolving cyber threat landscape, Geeky News remains committed to providing insightful content that addresses critical issues at the intersection of technology and daily life.

To read the full article, please visit: https://www.geekynews.co.uk/businesses-face-costly-data-breaches/