Two weeks ago, MySpace, a once dominant social network platform, fell victim to one of the biggest data breaches of the last decade. Profile information, including usernames, passwords and email addresses from more than 360 million accounts were compromised.
In another recent development, the full scope of the 2012 Linkedin data breach came to light on May 17th, 2016, when over 100 million more Linkedin user names and passwords were made available online. This newly exposed account information represents a more than 1500% increase over the 6.5 million usernames and passwords that Linkedin originally reported to be compromised back in 2012.
As the trend toward increased data breaches continues to grow, web users must be careful to avoid having personal information exposed and potentially even having their identities stolen by hackers.
While some companies have strong data security systems in place to protect their customer data, a surprising number of large organizations and companies have relatively weak data security infrastructures in place. A study conducted by Kroll found that 59% of organizations have inadequate or non-existent data breach response plans. Then, consider that several notable organizations experienced huge data breaches over the last few months. Verizon saw 1.5 million enterprise customer records leak from their cyber security database in March, and in April, the U.S. Government’s Office of Child Support Enforcement leaked as many as 5 million records.
These big data breaches have negatively impacted consumer trust across the board. The ability to build and maintain trust with customers has become a major competitive advantage for all businesses and organizations that interact with customers or subscribers online.
One way for large and small businesses alike to drive this kind of trust is by leveraging robust customer identity and access management (CIAM) systems. These systems provide safe and seamless registration, login and profile management processes, as well as specialized, dynamic schema repositories for customer data that are highly secure and kept up-to-date with all data protection regulations and privacy policies.
By outsourcing their CIAM needs to firms solely devoted to managing consumer data at scale, organizations can focus more resources on their core competencies, while securing their customer’s valuable information and growing customers’ trust in their brands.
Gigya’s cloud-based, end-to-end CIAM platform is a single API implementation that has helped more than 700 leading brands like FOX, ASOS and Coca-Cola build more trusted, personal relationships with their customers while maintaining full global privacy compliance and keeping customer data secure at rest, in use and in motion.
For more information on Gigya’s ISO 27001 and ISO 27018:2014-certified data security standards, check out our trust pages.
By Jim Werner