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The Cost of a Data Breach Is Higher Than You Think

Did you know that it’s possible to experience a serious data breach even if you don’t store cardholder data after a transaction? Cyber criminals have become adept at breaking into merchants’ POS systems that capture and forward electronic payments. Today’s attacks have become sophisticated and criminals have found many points where data passing through your system may be vulnerable to theft.

Magnetic stripe data is an attractive and frequent target of fraudsters. Stolen data can be printed onto plastic cards and used elsewhere to make swiped card payments for goods that can easily be resold. Data thieves target small businesses in the hope that card security will be lax. Unfortunately, they’re often right. According to TrustWave research, 90% of data breaches impact small merchants.

Have you ever thought about what it would mean to your business if a payment data breach were to happen? A breach doesn’t even have to be confirmed to turn your business upside down. The mere suspicion of a breach could have serious consequences. Out-of-pocket expenses add up quickly. The financial costs resulting from a data breach can be high, and even the non-monetary consequences can be damaging.

You can read more in Small Merchants: The Cost of a Data Breach Is Higher Than You Think.