The ever-increasing role of technology in the modern marketplace has made transactions quicker and more convenient than ever for both businesses and consumers. Unfortunately, it’s also invited a greater risk of payment fraud and other cybercrime. Fraudsters have access to a variety of sophisticated attacks that can cause tremendous harm in a very short period of time – a reality that requires advanced tools capable of rapidly predicting, detecting and responding to suspicious activity and adapting to a constantly evolving digital landscape. Perhaps no such tool is more powerful than machine learning, and businesses are increasingly turning to this technology to guard themselves against cyberattacks.

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As businesses increasingly adapt to the realities of modern technology, data security has become a critically important component of any successful business plan. Business runs on data – whether it’s financial records, credit card numbers, medical records, email addresses or anything in between – and companies that fail to adequately protect that data leave themselves and their customers exposed to tremendous risk. As high-profile incidents at Target, The Home Depot and other large companies have shown, data breaches can incur millions of dollars in expenses and damage the trust of consumers. This blog is a more detailed look at the true cost of a data breach, as well as best practices for keeping digital data safe and secure.

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