Today’s consumers utilize their cellphone for conducting their personal lives. Cellphones are commonly used to store phone contacts but are becoming more useful for storing pictures, conducting daily planning, and storing documents. With the limited space on phones, cellphone companies are now promoting their cloud services in which pictures and documents are stored on suppliers’ servers. Verizon Wireless offers a Cloud service to their customers to store documents, phone contacts and pictures with an additional storage fee. Cloud service allows a customer more storage space than what their phone memory can handle. There are downfalls with having a service in the cloud and a customer may question how safe their pictures and documents are and …show more content…
Just recently an Oregon couple is seeking $4 million dollars in damages due to private photos that were down loaded onto the cloud ended up on another customer’s new phone. (Bailey, 2018). A new bill might become law that if a company does not disclose a security breach within 30 days and whomever conceals the breach would face prison time. This new bill is called the Data Security and Breach Notification Act. Florida Senator stated, “We need a strong federal law in place to hold companies truly accountable for failing to safeguard data or inform consumers when that information has been stolen by hackers” (Larson, 2017). This bill will have Verizon held accountable to release information quickly to the …show more content…
Every year Verizon Wireless releases a Data Breach Investigations Report. This report is broken down by industry and how an industry can be more effective in Cyber security. According to their 2018 report there have been over 40,000 incidents worldwide and 1,935 confirmed data breaches overall in the industries. (Verizon, 2017) This report includes the statistics on who’s behind the breaches and the tactics that they use. Verizon has also contributed to the challenge by changing the way customers sign in to their Verizon account. There is a two-step process when logging into your account to help minimize cyberattacks. Verizon estimate costs of a breach will fall between $2.1 million to $5.2 million for a breach of ten million records (Dine, 2018). A breach in customers’ information can cause the lack of brand loyalty to Verizon Wireless. Customers have many other options with other cellphone providers that maintain high cyber security. Verizon has taken part in educating businesses and customers in cyberattacks. The cost of a cyberattack is massively expensive to Verizon including the cost of the loss of customers in their brand