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Why cybersecurity breach is not reported by companies

Why cybersecurity breach is not reported by companies

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Cybersecurity breach refers to the unauthorized access to confidential information that is possessed by a company. This can include personal information of customers, health records, company knowledge theft, etc. Many times this breach is not reported by companies as they are detrimental to the image of the company. Customers lose their trust in the company and look for other options to handle their sensitive personal data. This would reduce the market share of the company. Companies can be asked to pay hefty fines for their lack of correct security measures or may face civil lawsuits.

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