2024: Crisis Management Days Book of Abstracts
Security and Protection (National and International Security, Corporate and Information Security, Disaster Risk Reduction)

Data breach: Risk analysis, implications on workers and business entities

Hadžib Salkić
College "CEPS - Center for Business Studies" Kiseljak
Aldijana Omerović
University of FINRA Tuzla
Nafija Filipović
International University Travnik

Published 2024-05-20

Keywords

  • workers,
  • business entities,
  • risks,
  • data protection,
  • crisis plan

Abstract

Data breaches pose an increasing challenge for modern organizations, not only due to potential data losses but also because of the broader spectrum of implications they can have on workers and business entities. It is believed that data breaches can result in not only the loss of sensitive information but also serious consequences for the health and lives of workers. Through various security breach incidents, such as hacking, identity theft, or unauthorized data access, workers may be exposed to various risks. In cases of theft of medical data or financial information, workers can become victims of identity theft or misuse of their data, leading to serious privacy issues and financial losses. Additionally, data breaches can also cause material damage to business entities. This may include the loss of intellectual property, financial losses due to data theft, or service cancellations due to attacks on network infrastructure. For example, cyber-attacks resulting in work interruptions or service cancellations can have a significant impact on a company's financial performance and reputation in the market. To understand the implications of data breaches, it is essential to analyze various factors that influence these incidents. This includes the number of employees in the organization, the educational level of employees, the age structure of the workforce, and the time required to implement security measures and update data protection information. Through the analysis of these factors, potential risks can be identified, and strategies can be determined to minimize the harmful consequences of data breaches. Preventive measures play a crucial role in protecting organizations from data breaches. This includes the implementation of security policies and procedures, regular security system checks, employee training on the importance of data security, and the use of advanced technological solutions for detecting and preventing attacks. It is also important to have a crisis plan for responding to security incidents to minimize damage and ensure quick recovery. Taking all these factors into account, organizations can improve their security practices and reduce the risk of data breaches. Through risk analysis and identification of potential implications, organizations can develop effective strategies to protect their data and ensure the security and integrity of their workers and businesses. This research aims to provide insight into the complexity of data breaches and identify best practices for overcoming them.