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A security breach, or data breach crisis, involves the loss of consumer information or the fraudulent use of a credit card information (Kim, Johnson, & Park, 2017).
Although no data is safe from being exploited by hackers, these data breaches targeted specific personally identifiable information as well as financial information. Unlike other data breaches that happened in the US and worldwide, the cases of big retail brands such as Target and Home Depot were more serious in nature (Kim, Johnson, & Park, 2017).
Each of these data breaches resulted in millions of compromised consumer accounts, which can be described as a massive breach crisis (Kim, Johnson, & Park, 2017). Cyber intrusions are becoming more and more common with the advancement of technology and with retailers holding customer databases that are larger than ever before (Kashmiri, Nicol, & Hsu, 2016).
The media continually reports these data breaches in the news. This of course is bad for business because the news of a major customer data breach at one U.S. retail organizations brings an increase in investors' expectations of similar data breaches taking place at other U.S. retailers (Kashmiri, Nicol, & Hsu, 2016).
It is a known fact that organizations similar to the breached company in size and product market characteristics, and those with governance related ties with the breached firm, are more likely to experience a similar breach (Kashmiri, Nicol, & Hsu, 2016). Luke 8:17 states, " For nothing is hidden that will not be made manifest, nor is anything secret that will not be known and come to light."
Data breaches lead to negative media coverage, which in turn, tarnishes a corporate image and consumer trust (Kim, Johnson, & Park, 2017). Individuals involved in public relations cannot necessarily solve all aspects responsible for such data breach crises, but they can and often do serve as forms of communication between an organization, its stakeholder, and the consumers (Kim, Johnson, & Park, 2017). Vulnerabilities in the media helps in evaluating these data breaches to estimate potential reputational and financial damage as well as helps in employing proper crisis response strategies (Kim, Johnson, & Park, 2017).
I believe breaches like these will grow continuously do to the innovation of technology. The bright side is that data breaches could encourage consumers to practice extra precautions when giving out their private information. Job 11:18 states, " And you will feel secure, because there is hope; you will look around and take your rest in security."
Consumers knowing more about these breaches due to the media will keep them informed, and assist them in finding ways to possibly avoid having their data leaked. Psalm 16:8 states, " I have set the Lord always before me; because he is at my right hand, I shall not be shaken." Consumers shall use this verse whenever they feel fear about data breaches. This also helps security professionals.
They will be able to learn the statistics of data breaches to ultimately stay ahead of these attacks. References Kashmiri, S., Nicol, C. D., & Hsu, L. (2016).
Birds of a feather: Intra-industry spillover of the Target customer data breach and the shielding role of IT, marketing, and CSR. Journal of the Academy of Marketing Science, 45(2), 208-228. doi:10.1007/s11747-016-0486-5 Kim, B., Johnson, K., & Park, S. (2017).
Lessons from the five data breaches: Analyzing framed crisis response strategies and crisis severity. Cogent Business & Management, 4(1). doi:10.1080/23311975.2017.1354525