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Cyber Liability: Protecting Your Data 24/7

January 9, 2014

The NL Insider

Cyber SecurityImagine you are a debt collector and your company is the victim of a cyber attack, resulting in a cyber security breach. The breach has exposed all of the debtors’ information stored on your computer: name, social security number, credit card details and other personal information.

Now what?

Most business owners have never thought about the financial disaster associated with a cyber breach. They think, “It will never happen to me,” or “I’m too small (big) to be a target.” However, business owners, ranging from startups to Fortune 50 companies, are starting to wake up to the fact that anyone can suffer a cyber breach, as the attacks become more sophisticated and frequent. A recent example is that U.S. First Lady Michelle Obama’s personal identifiable information was just hacked in September.

According to the annual Ponemon Institute report, which conducts independent research on privacy and data protection, the average cyber…

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