What is PII? And How Does it Affect Your Business?

Personal information, or PII, is information that can identify a particular individual or employee. It is widely used by businesses across the globe to collect and analyze data, identify customers and their preferences, and protect their data from unauthorized access. However, recent years have seen a surge in cyber-attacks with hackers targeting businesses to get their hands on PII and other sensitive data. But how is PII used in cyberattacks and how can companies protect themselves against PII-based breaches?

To begin with, PII is widely used in cyberattacks because it provides the attackers with valuable information, especially when it is stolen from a company’s servers. Attackers can use this data to gain access to corporate networks and systems, and subsequently use the stolen data to their advantage, such as to steal credit card information and access financial accounts, or to breach confidential customer data. In addition, PII can also be used to impersonate an employee, which can be exploited to gain access to secure office buildings and networks.?

In order to protect against such attacks, businesses must take proactive measures to safeguard their PII. This can be done through use of encryption and other secure mechanisms, such as two-factor authentication, to protect sensitive data from hackers. But what about the external data collected on employees and executives by third-parties such as vendors, data brokers, and trackers that hide behind the websites we visit?

Third-party vendors cause about 60% of all data breaches. And about 73% of successful breaches stem from employee PII. By adopting a "Vendor Risk Management" policy your company can help mitigate some of the threats posed by doing everyday business and keeps your business and clients safe.

In conclusion, stealing PII has become an increasingly popular method of hacking into company networks and systems. Companies must take proactive steps to prevent falling victim to PII-based breaches by utilizing secure data protection mechanisms, training their employees, and using data access control measures. With the right steps taken, businesses can avoid costly data breaches and help ensure their customers’ data stays safe