Google might be in trouble for collecting the personal data of its users, but many companies have a growing incentive to rid their hands of the data that users entrust them with. This is because of growing costs of holding onto it.

A major cause is the rising number of cyber attacks where hackers steal the identity information held by companies, often to sell it on to various black markets. Take the recent example of U.S. giant Equifax, one of the top three companies in the consumer credit reporting industry. In October 2017 it chalked up another 2.5 million identity-theft casualties to its existing toll of 143 million. The firm has suffered a steady stream of identity information loss following a cyber attack that took place in May 2017, where hackers capitalized on weaknesses in its software.

The security breach—as a primary cause—resulted in about $4.8 billion being wiped off Equifax’s market value from May to September 2017. It also tarnished its image and cost the firm’s longstanding CEO his job.

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