Besides
maintaining privacy do you think your data is actually secured?No! it’s not. We
have heard about so many data stealing commonly known as data breach, but do
you know what it means?
A
data breach or data leak is the release of sensitive, confidential or protected
data to an untrusted environment. It is a security incident in which data is
accessed without authorization. It involves information leakage or
exfiltration—unauthorized copying or transmission of data, without affecting
the source data. In some cases it incites to complete loss of data. For example
in case of ransomware attacks, the unauthorized person encrypts your entire
data and asks for a huge ransom to decrypt the data.
In
other words, in a data breach, hackers or employees release sensitive data. As
a result, the data might be lost, or used by perpetrators for various malicious
purposes. As technology progresses, more and more of our information has been
moving to the digital world. As a result, cyberattacks have become quite common
and costly. Globally, the average total cost to a company of a data breach is
$3.86 million, according to a study by the Ponemon Institute. This means that
at $148 on average per stolen record, online crime is a real threat to anyone
on the internet.
In
other words, in a data breach, hackers or employees release sensitive data. As
a result, the data might be lost, or used by perpetrators for various malicious
purposes. As technology progresses, more and more of our information has been
moving to the digital world. As a result, cyberattacks have become quite common
and costly. Globally, the average total cost to a company of a data breach is
$3.86 million, according to a study by the Ponemon Institute. This means that
at $148 on average per stolen record, online crime is a real threat to anyone
on the internet.
Why do data breaches
occur?
Cybercrime
is a profitable industry for attackers and continues to grow. Hackers seek
personally identifiable information to steal money, compromise identities, or
sell over the dark web. This serves an easy way for a well skilled person to
ask for a handsome amount of money or ‘Bitcoins- cryptocurrency’ from a well
established company.
Causes of Data Breaches:
The
following are common causes of information leaks at organizations.
●
Insider leaks- Insider threats include
disgruntled employees, former employees who release credentials to sensitive
systems, or business partners. They might be motivated by financial gain,
commercially valuable information, or a desire for revenge.
●
Unintended disclosure- Many data breaches are not
caused by an attack, but rather by unintentional exposure of sensitive
information. For example, employees might view sensitive data and save it to a
non-secure location, or may discuss with the staff or might share it on the
internet.
Examples of some of the biggest data
breaches :
Marriott International
Date:
2014-18
Impact:
500 million customers
Details:
Marriott International announced in November 2018 that attackers had stolen
data of 500 million customers approximately. The attackers were able to take
some combination of contact information, passport number, Starwood Preferred
Guest numbers, travel information, and other personal information. The credit
card numbers and expiration dates of more than 100 million customers were
believed to be stolen but the officials were uncertain whether any transaction
took place or not.
Yahoo
Date: 2013-14
Impact: 3
billion user accounts
Details: Yahoo
announced in September 2016 that in 2014 it had been the victim of what would
be the biggest data breach in history. The attackers compromised the names,
dates of birth, email addresses and passwords, and security questions and
answers of almost 3 billion user accounts.
How can I help
protect my personal information in the event of a data breach?
●
Use strong, secure
passwords.
●
Monitor your bank and
other financial accounts.
●
Use only secure URLs
●
Secure your phone
●
Back up your files and
ensure their safety
●
Avoid oversharing on
social media
●
Implement high-quality
security software
What are
companies doing about data breaches?
Many
companies are tightening security measures and reassessing their procedures to
better protect the consumer data they use and store. Laws and regulations are
in place that require companies to take specific steps in the event of a data
breach or other security incident. Most states require companies to send data
breach notifications to consumers when their personally identifiable
information may have been compromised.
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