Why Are the Data Breach Lawsuits Still Unavoidable in the Future?
No matter how much effort you put into the security measures, your company is still not a hundred percent safeguarded from hackers, nation-state actors, and cyber criminals.
With the rapid rise of technology, not only security rises but also cybercrime. So, should every company be prepared with data breach lawsuits?
What does data breach mean?
A data breach takes place when a service, application, or individual decides to retrieve, access, or view data illegally that is not their own. This particular kind of security breach makes sure that certain data is stolen and then published in an unsecured, unknown, or illegal location.
So, what are the current data breach news?
Between the 27th of November and the 15th of December in the year 2013, the popular store, Target, became victim of data breach just as the busy holiday season is fast approaching.
It was found that 40 million debit and credit cards have stolen personal information.
Investigators of the said case discovered that it was the payment terminals where the thieves were able to install a software to steal vital information. These payment terminals are what clients use to swipe their payment cards when they check out.
The said data breach affected all 1797 stores of Target all throughout the United States.
By the end of the year of 2013, 15 lawsuits have been filed ensuring to seek millions of dollars in exchange for the damage that was done. The harm was indeed extensive which even propelled the Department of Justice to carry out its investigation on the breach.
A lot of major data breach cases that occurred within the past years have not faced some time in the court because though they are of class action, they are just settled.
This is always an expectation because most companies that were breached with the likes of Target do not come prepared with defense. To avoid the media spotlight, most companies prefer settlements because it helps them get on with the case quickly.
So, what should one expect with data breaches in the future?
As stated by most reports, it has been determined that there is rising incident of data breaches and lawsuits of about 25 to 30% every single year.
Since the lawsuits that involved well-known companies like Target, Home Depot, and eBay have gained media attention, so does the issue itself. A Rhode Island lawyer even said that lawsuits of this type are on the rise because of the increasing attention being placed upon liability by several defense lawyers.
So, which professional should you approach if you come across a data breach situation?
If you get caught in a data breach situation, it is important that you hire only the best data breach lawyers. Data breach lawyers are capable of formulating data breach responses, advising and protecting companies that have become data breach victims, and protecting one from being liable with data breach.