Companies that trade in data had better get on top of the cyber-hacking problem
supertanker ran aground in Prince William Sound, Alaska, pouring a quarter of a million barrels of oil into the surrounding waters. At the time, it was America’s worst offshore spill, and a huge blow to the reputation of the ship’s owner, Exxon. The firm paid $3bn to clean up the area and settle legal claims, and to improve safety the American government ordered the phasing out of single-hull ships such as.
Corporations can argue that data are trickier to manage than oil. Preventing data breaches is a fiendish game of cat-and-mouse. Companies do not know who their attackers are—criminals? state actors? lone wolves?—or what they want. The hacker only has to be right once to penetrate a system. Defenders have to parry every jab, all the time; one misstep and they lose. Many companies bridle at being held responsible for being the victims of crime or acts of war.
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