Data Theft Affects Everyone All the Time

Cybercrime is a real problem for businesses and individuals alike. Today, there are more threats than ever and even if you are careful, data theft can affect you. In our blog today, we thought we would go through the ways that data theft can affect you, even if it isn’t stolen directly from you. 

Cybertheft Affects Everyone

Many people think that if their personal information has never been stolen, data theft doesn’t affect them. But the truth is, data breaches can impact everyone, even those who haven’t been directly targeted. Information is interconnected, and when data is stolen from one place, it can create problems for many others.

Say a major company gets hacked and customer data is leaked, criminals can use that information to create fake identities. These fake identities can be used to commit fraud, such as opening bank accounts, making purchases, or even applying for massive loans that they will never think about paying back. Since this type of fraud is so damaging, it can lead to stricter security measures at banks and stores, making everyday transactions more complicated for everyone.

It's So Big that It Affects the Overall Economy

Another way data theft affects you indirectly is through financial losses in the economy. When businesses lose money to cybercrime, they often pass those costs onto consumers. Experts estimate that over $9 trillion (that’s $9,000,000,000,000) is subverted by cybercrime annually; and, it’s expected to increase 15 percent per year. This means higher prices for goods and services, making things more expensive across the board.

Online Interactions Suffer

Your online experience can also change because of data theft. Companies that suffer breaches may impose stricter security rules, requiring more complicated passwords, extra verification steps, and longer wait times to access accounts. While these measures are meant to protect people, they can also make using online services annoying and can lead to security fatigue; something that could cause further problems. 

Makes People Question Digital Interactions

Widespread data breaches can lower trust in online platforms and technology. When people hear about major hacks, they might hesitate to use digital services, share personal information, or shop online. This fear can create real problems for businesses, as they may be less willing to invest in their offerings.

Every person needs to take cybersecurity seriously. At Indevtech, our IT experts can help an organization sort out its cybersecurity strategy by offering comprehensive security services, help with deploying valuable tools, and assisting the integration of valuable training and testing systems that can really help all end users on a network. For more information about our security services, give us a call today at (808) 529-4605.