
the times they aren't a-changin
Nice to see that the "shoot the messenger" approach to handling a security breach is still alive and well in 2021.
Indian payment app maker MobiKwik has denied its security has been breached, saying that if it's true, as has been claimed, that its customers' information has appeared on the dark web, then some other platform was totally responsible for that. "Some users have reported that their data is visible on the dark web," reads a …
Grovelling apology?
When it turns out to be genuine data they will just claim that a large number of users decided to upload their data to the dark web simultaneously in order to harm MobiKwik.
There is a point where the lie gets so big that it's impossible to start telling the truth without damaging yourself even further.
But massively improbable that every single one of your users who had their data leaked had done that to the same platforms.
Even the massive social media sites aren't all used by the exact same group of users.
With GDPR you will have to shell out 4% of your annual revenue as fines and thus an organization would be extra diligent before scrapping such charges.
Some companies are extra careful (which means they devote more resources) towards security and privacy. If other companies want to compete in the same space and do not ensure the same rigor towards security and privacy might end up saving on these resources that will add up to their bottom line. All this is possible because of the lack of regulations and of-course CXOs who care more about the bottom line than their users.