Data is considered a critical asset of any company. It is private, sensitive, and confidential, as this information can protect or harm an organization.
The data breach is one of the common threats in data management. It can damage the organization’s reputation, leading to revenue loss. Because of its adversities, regulatory authorities mandate laws to protect and sustain data confidentiality.
Additionally, a data breach can result in other cybersecurity risks, including phishing scams, identity theft, and fraud. According to IBM’s Cost of a Data Breach Report, $3.86 million is the average data breach cost and is expected to rise annually.
Fortune 2000 companies should adopt data recording and sustainable archiving solutions, like text message archive android, to keep their data monitored and secured. If a data breach happens to them, stock owners could lose their confidence and trust. Potential clients will hesitate to invest in them; thus, stock prices can decrease.
What is a Fortune 2000 company?
Fortune 2000 companies are the most prominent public companies worldwide. The Forbes magazine qualifies these businesses based on sales, profits, assets, and market value. In 2021, here are the ten largest Fortune 2000 companies:
- Industrial and Commercial Bank of China
- JP Morgan Chase
- Berkshire Hathaway
- China Construction Bank
- Saudi Aramco
- Apple Inc.
- Bank of America
- Ping An Insurance
- Agricultural Bank of China
- Amazon.com, Inc.
Some of these companies experienced confidential information leakages. One example is the JP Morgan Chase case.
JP Morgan Chase is one of the prominent banks in America. In 2014, the company revealed that it encountered a large computer hack, affecting $83 million in household and business accounts. Therefore, it allocated $250 million every year for its security measures.
The Securities and Exchange Commission (SEC) requires Fortune 2000 companies to use iphone text message archive and other solutions. These approaches can prevent organizations from leaking sensitive information and experiencing cyber threats.
With the rising cases of data breaches, businesses must leverage call and text archiver solutions.
To learn more, here is an infographic from TeleMessage.