People are entitled to know when their information has been leaked. PrivacyRights.org sets the standard for notifying people when a data breach has occurred. Not telling people can lead to the identity theft of users. Information spreads fast over the internet. The dark web would have access to stolen credit card information within seconds. The credit card holder would not have any idea who stole their identity.
Additionally, the business would lose its reputation if mishandled. If they don’t announce a breach, media outlets may know something through their network of information, which would be the worst for a business. Furthermore, if the company does not announce it properly, it will lose customers. It’s a double edge sword when telling the public about a data breach, but at the least, notifying users of a data breach can help them protect their accounts immediately.