As regulators get more serious about ensuring consumer data protection, the amount of fines assessed for data breaches in 2019 have now reached upwards of $1.22 Billion.
Some of today’s most widely used products and services aren’t doing enough to protect your data. That’s not something the government takes lightly and here’s the breakdown of the biggest fines to date below:
- Equifax: (At least) $575 Million
- Equifax: $650,000 (second fine)
- Facebook: $650,000
- British Airways: $228 million
- Uber: $148 million
- Marriott International: $124 million
- Yahoo: $85 million
- Tesco Bank: $21 million
- Target: $18.5 million
- Anthem: $16 million
- The University of Texas MD Anderson Cancer Center: $4.3 million
- Fresenius Medical Care North America: $3.5 million
- Cottage Health and Touchstone Medical Imaging: $3 million each
These fines are a cumulation of European and United States regulatory fines enforced for companies that share data across multiple countries. Regulations and rules will continue to increase in 2020 and beyond as governments place an emphasis on corporate responsibility and accountability.
Axis Technology and Data Breach Protection
The biggest takeaway is that everyone and every brand is susceptible to attacks online. The key to avoiding becoming the victim of a data breach is being more vigilant and careful online. For companies, it might be time for them to see more value in protecting their customer’s private information.
Data masking operates by shielding confidential data, such as credit card information, social security numbers, names, addresses, contact information, etc. from unintended exposure to reduce the risk of data breaches. Axis can provide you the data masking expertise you need to mask tense or hundreds of databases or files.
Data masking can protect many forms of sensitive data, including (but is not limited to):
- Payment card information (subject to PCI-DSS regulation)
- Personally identifiable information (PII in conjunction with HIPAA)
- Protected health information (PHI)
- Intellectual property (subject to ITAR and EAR regulations)
At Axis we have been delivering successful data masking projects to some of the largest financial services and healthcare companies for over 12 years. We create customized solutions that are automated and don’t break your existing test and development environments.
Consult with an Axis Technology representative about our Data Masking and Virtualization Services and other ways we help protect you from compromising your business.