Devastating data breaches continue to be an ever-present threat for companies conducting business online. From mom and pop shops to giant corporations, no one seems safe from the reach of hackers. While many businesses think about the possibility of a cyberattack, they don’t consider the financial ramifications of breaches, especially those involving PCI data.
Often times consumers and banks seek to take legal action against companies that failed to keep data secure, sometimes to ruinous consequences. After TJX Companies, the parent company of TJ Maxx and Marshalls, fell victim to a data breach in 2007, they agreed to pay $40.9 million to resolve claims from banks that suffered losses due to stolen data.
More recently, Kaiser Foundation Health Plan was sued after it lost a hard drive filled with the personal information of over 20,000 employees and their families, including names, birth dates and Social Security numbers. They face fines of up to $51.3 million, not to mention the legal fees to fight the suit.
Kaiser could have saved lots of money, and kept thousands of their employees happier, if it had stored its sensitive information on the cloud instead of on a hard drive. Important records and documents can be sent using a fax over IP (or FoIP) service. These services store your information on multiple servers at once and make it retrievable from anywhere with an Internet connection while being incredibly secure, so a TJX-style breach won't happen.
FaxCore's etherFAX service allows you to send and receive documents over the internet via FoIP software. etherFax is not only secure because your information is always available in the cloud, but because it has back-end support and encryption, meaning your data will always be safe.
Enhance enterprise communication, collaboration and compliance efforts with a proven FoIP solution from FaxCore. Contact FaxCore today to learn more about their 'Partly-Cloudy' fax solutions.
