Social media giant Facebook has come under fire this week as it grapples with accusations of a data breach also being referred to as the, “Cambridge Analytica scandal.”

The verdict remains on what exactly to call the incident, but the facts are that a political consulting firm, Cambridge Analytica, “obtained personal data from more than 50 million Facebook users without their permission.”

The Aftermath

The repercussions are grand. Not only is the company in the hot seat, but it also had the worst trading day in four years and lost $35B in value with share prices falling. In addition this incident is stirring up questions of whether or not big tech companies should be trusted as much data as they have been, or if regulations need to happen – and how soon.

The Lesson

The lesson we can immediately take away from these events is that data and our personal information is not as private as we once believed. On sites like Facebook and many others, details about our interests, friends and other information is used for ad targeting, selling and a host of other reasons. What this latest exploit reminds us is that it’s time for everyone as a public to work towards better protections for privacy and to start taking data security seriously.

What Businesses Should Know

As a business, you’ve likely already been faced with fears of breaches and hacks that cripple even the largest corporations, but there is more to keep in mind than just securing your networks. Consistent, always-on monitoring, pro-active approaches and training are all critical steps in business success.

While this data breach may not have a direct impact on business, many more like it are lurking in the background and the next one way.

Working with a managed services provider means you won’t have to do all of that heavy lifting yourself when it comes to staying secure.

Increase your IT security defense against cyber criminals, hackers, and employees and avoid data breaches, cyberattacks and possible regulatory fines.

Contact ASG Information Technologies today!