Data breaches happen to companies and organizations all the time. The most recent, a data breach at Capital One, left as many as 100 million customers wondering whether their personal and financial information was compromised.
Data breaches like this one make a serious dent in the credibility and trustworthiness of businesses and firms, even large ones like Capital One. Other financial institutions like J.P. Morgan Chase, Equifax and Scottrade have all been victims of cyberattacks.
So, what can firms in the financial services world do better to protect their businesses and their clients’ personal information? It starts with understanding what’s at stake.