Your data, click the link where I talk about the data used by myself, Levi
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Where is all the data stored?, click the link where I talk about where the data is stored.
The royal mail breach 2023
We will discuss the implications to the client and the company.
The company:
Reputational loss- The breach undermined the people's trust of the royal mail to safeguard sensitive data. Incidents like this can lead to people being wary of using them due to their reputation.
Financial loses- The breach itself caused direct financial costs through things like investigation, mitigation, legal fees, and potential fines, but it's likely that it suffered long-term financial impacts, such as a decline in customer base, reduced market share, and potential class-action lawsuits or individual claims from affected customers. The cost of addressing and compensating for the breach could also be significant. In fact its stated that the remediation cost £10 million, that alone proves that this incident significantly effected finances.
Legal consequences-Royal mail likely had to face legal consequences from regulatory bodies, including hefty fines or penalties for failing to adequately protect customer data.
Client:
Loss of Personal and Financial Data- Clients whose data was compromised in the breach could face the risk of identity theft, financial fraud, and phishing attacks, this could lead to further cyber attacks incurring to them. If sensitive personal or business information, like addresses, payment details, or shipping information, was accessed, malicious actors might exploit it, leading to major difficulties for the client.
Privacy Violations- The breach could result in significant privacy violations, especially if personal information whether its names, addresses, or contact details was exposed.
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