Featured by CB Insights: Tech Market Map Report — Data Security For IT Security Leaders
Teck Wu — 4/4/2023 — 2 Min Read
According to CB Insights, in 2020, almost 4000 data breaches happened, and this led to 37B records leaked. Organizations that suffer from these breaches not only have to deal with the public and political backlash, but also a slow down of organizational priorities, as proper legislative compliance has to be chucked into the system, for audit, branding, and future-proofing purposes. To organizations, this is privacy debt, a form of debt that they incur --- which can be reflected in their PnL --- similar to that of tech debt.
For the consumer side, such data exposure have drastic consequences, these days in the form of data exploitation for scams, potential DDOS-ing of other accounts, and risks to self and family. In fact, this likely has led to residents of California voting for even stricter regulations, only less than one year after the enactment of California Consumer Protection Act (CCPA). CPRA, which this new consumer protection legislation will be called, is slated to be in effect in 2023.
As a security incident responder for 10 years and now executive leadership, I've managed and participated in privacy incidents from various perspectives. Rarely does one product provide confidence to both security engineers and senior management. Borneo solves the data visibility and proactive privacy management problem for both for the practitioner and leadership, allowing for confident security-informed decision making, visibility and proactive remediation across the enterprise. --- Chris McCann, CISO Hear.com
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