This month, we’ve focused a lot on security. Today we’re continuing that focus by taking a look at data breaches. Data breaches and hacks have made headlines a lot in recent years. We decided to take a look at why breaches are on the rise and what you can do to protect yourself and your business.

Why do data breaches seem to happen more now?

There’s no denying that data breaches are on the rise. The Identify Theft Resource Center estimated that the number of breaches from January-July of 2017 had surpassed the number of breaches the year before by almost 35%.

While the rise of breaches is concerning, it’s not surprising. We live in an increasingly digital world. As more data goes online, the stakes for what can be lost are higher, as are the chances of something going wrong.

Technology is also a key factor. Technological advancements are often slow to roll out at larger organizations. EMV chip cards are a prime example. The technology is still in the process of spreading to all POS systems in America. Meanwhile, technology advancing has also allowed for more ways of skimming and breaching information at outdated POS systems. This disconnect means that the margin for error is extremely high, and hackers know it.

Why are data breaches often tied to payments?

A data breach, at its core, is theft. In other words, hackers are looking to take something of value. As a result, almost all breaches are connected in some way to money and payments. There are obvious examples of this, like the 2014 hacks on Target and Home Depot for payment information.

Then there’s the Equifax breach from last year. The Equifax breach was more devastating since consumer personal data, like SSNs, birthdates, etc., was stolen. But this data is ultimately being hacked to steal money—via fraudulent credit cards, bank accounts, loans, and so on.

We’ve also exponentially increased the number of payment methods within the last decade. In-store payment options are evolving, ecommerce is booming, mobile pay is an industry unto itself. These advances have made it so that we can pay and order with ease across a number of platforms, but they also put our payment information out in more locations than ever before.

What can I do to protect myself and my business?

As individuals, everyone should take basic but crucial precautions online. We discussed some of these key practices a few weeks ago. For your business, PCI compliance and the latest technology are key to keeping your business and consumers safe. This means partnering with a payments-processing company that’s equipped to handle the specific, individual needs of your business.

At Pineapple, we work with you every step of the way to make sure that your business is safe, secure, and processing across all platforms needed for your success. Not only that, but we provide all of this at the best prices on the market. Get in touch with us today to find out how partnering with Pineapple sweetens up all aspects of your processing!