How a data breach could affect your business

According to a survey conducted by Experian, two in five British adults have been affected by data breaches and the City of London Police state that around one in four UK adults have been victims of identity crime, losing on average £1,200 each.

Around 7 in 10 people think that the responsibility of protecting their information is the sole responsibility of a service provider. It is imperative for your customers and clients to perceive your business as trusted and secure. A survey conducted in 2014 found that 65 percent of respondents would never, or were unlikely to, shop or do business again with a company that had experienced a data breach where financial data (such as credit card information or bank account number) was stolen.

A 65 percent loss of regular custom would result in a huge dip in revenue for any organisation, and the truth is that this could easily become a reality for any business that is not protecting and securing their customers’ financial data.

It may be the case that you feel you are being effective at managing these risks by ensuring employees are searched, have no access to pens or paper, and call recordings are being blanked out. This method, however, raises further difficulties in that it can lead to reduced staff morale, and is also an inefficient and time consuming way to remain compliant.

By using our PCI DSS solution, your employees will never have access to your customers’ financial data at any stage. A customer will be invited to dial in their card data and this will be hidden from an operator through the use of asterisks to mask the details.

Send us an e-mail today to find out how we can streamline this process and eliminate any risks or problems associated with financial data and compliance on: [email protected].