The recent security breach that affected millions of Target customers was not only a huge concern for individuals whose identity and financial information may have been compromised, but a black eye for the retailer as well. Other companies, like Verizon, have also faced data breaches in recent years, which indicates that even the largest businesses do not have sufficient safeguards in place to prevent data theft.
In many cases, these large companies have compliance programs in place that they feel are sufficient. Vijay Basani of eIQnetworks uses the term “checkbox compliance” in a piece for usatoday.com. Basani points out that companies that merely go down a list of compliance rules, following them to the letter, are not doing enough. It’s a matter of managing risk, Basani says, and that is what companies need to keep in mind.