The retail industry ranks third in client data leaks, with over 700 retail companies suffering data breaches during which various consumer data was leaked, according to a study by password management software firm NordPass.
NordPass partnered with independent third-party researchers to conduct the study, in which researchers analyzed leaked databases from incidents occurring between December 2019 and July 2023.
The study also found that entertainment and technology companies have the poorest ranking for client data security practices.
"In a constantly challenged cyber environment, businesses no longer have the luxury to store consumer data in plain text on Excel or otherwise neglect basic cybersecurity practices," Tomas Smalakys, CTO at NordPass, said in the release. "To avoid financial and reputational risks, companies should consider it their personal duty to ensure clients' data is secured against online threats, even if the legislation is not there yet."