Data breach has become a universal problem; it is getting common as well as costlier day by day. A data breach can result in a loss of millions of Dollars. Such a case can become a nightmare if it gets proven that you are on the fault of losing data. Such an incident occurred with TJX, it was hit by hackers’ attack, but, security experts said that TJX has to shoulder some responsibility as it does not make proper security measures. TJX was accused to lose 94 million credit cards; it was twice than what TJX estimated. The worst part was that TJX was not able to discover data breach; it was VISA who first got aware of such data leakage. The incident harmed the goodwill of TJX big time and the company also had to suffer big financial losses.
You may think that the internet is the perfect invention; however you couldn’t be more wrong. The internet with all its advantages also comes with some shocking drawbacks. Foremost, with information going digital, it has given birth to a new breed of crime which is known as cybercrime.
Another constant source of losing data is through emails. There are many incidents where employees have sent unsecured attached files that contained some sensitive information to a wrong email address. Surveys revealed that more than 20 percent of the employees have sent an unsecured to email to some wrong email address. Similarly, there are many employees who have received confidential information from an unknown email id that contained unsecured secret records. Many companies have realized that the biggest threat to their data is a common way of communication i.e. email, so that, companies are educating their employees regarding its security importance.
Since companies are encouraging the use of blogs as a medium of communication between them and their clients, it is also proving to be a nightmare for them. Some irresponsible employees write blogs, but unwillingly, unintentionally they communicate some of the information that should not be leaked. As these employees are not aware enough of blogging as well as of the company’s policy, they spill out some secrets. The companies just assign the task of writing who has fine writing skills without educating him/her about the company’s policy.
Usually, the companies face trouble during the process of downsizing or merging. When downsizing, the employees who get fired often have some useful information about the company’s business. The anger of the employees pushes them to breach them information and the competitors use that data against the entrepreneur. The employees can also sell the company’s data in the market and get a handsome amount against it.
All of the above situations are scary, but, the worst nightmare for the company is when an employee loses a USB flash drive that has important records. USB flash drives are so small and have an amazing capacity of saving data, due to their tiny existence; these portable drives are prone to getting lost or stolen. The majority of the portable data storing devices that get lost or misplaced are not properly secured. Using security software that can secure USB can make your portable data storing devices completely secure.
Top Data Breaches
1. Equifax – In 2017, Equifax suffered a data breach that exposed the personal information of 147 million people. This included Social Security numbers, birth dates, addresses, and driver’s license numbers.
2. Yahoo – In 2013, Yahoo suffered a data breach that exposed the personal information of 3 billion people. This included names, email addresses, passwords, telephone numbers, and dates of birth.
3. Marriott
Consequences Of Data Breach To An Organization
The consequences of a data breach to an organization can be far-reaching and damaging. The most immediate consequence is the financial cost associated with the breach, which can include fines, legal fees, and reputational damage. Additionally, the organization may suffer from a loss of customer trust and loyalty, as well as the potential for a decrease in customer numbers. Finally, the organization may face a decrease in stock prices and a decrease in investor confidence.
Examples Of Data Breaches
Examples of data breaches include unauthorized access to sensitive information, such as credit card numbers or Social Security numbers, exposure of confidential data, such as trade secrets, or the theft of data from a computer system. Additionally, data breaches can occur when an organization fails to properly secure its systems or when an employee or third-party vendor misuses or mishandles data.
The Biggest Data Breach
The biggest data breach in history is the Yahoo data breach, which affected more than 3 billion user accounts. This breach occurred between 2013 and 2014 and was discovered in 2016. The breach exposed names, email addresses, telephone numbers, dates of birth, passwords and security questions and answers.
Most Common Data Breach
The most common type of data breach is a phishing attack, which is when an attacker attempts to gain access to sensitive information by sending an email or other communication that appears to come from a legitimate source. This type of attack is often used to gain access to financial information, passwords and other confidential information.
Data Breach For Organizations
A data breach for organizations is an incident in which sensitive, confidential or protected data has been accessed, stolen or otherwise exposed to an unauthorized individual or entity. Data breaches can result in the loss or theft of sensitive customer information, intellectual property, trade secrets, financial information and other confidential data. Data breaches can also lead to reputational damage and financial losses for organizations.
Biggest Threat To An Organization In Terms Of Breaching Security
The biggest threat to an organization in terms of security breaches is cyberattacks. Cyberattacks can come in many forms, such as malware, ransomware, phishing, and distributed denial-of-service attacks. These attacks can be used to gain access to sensitive information, disrupt operations, or even shut down whole systems. Organizations must take steps to protect themselves from cyberattacks by implementing strong security measures, such as firewalls, antivirus software, and intrusion detection systems.
Main Causes Of Data Breaches
The main causes of data breaches are human error and malicious cyberattacks. Human error can include mistakes such as leaving confidential information exposed or not properly securing access to data. Malicious cyberattacks can include any type of attack that is intended to gain access to sensitive information or disrupt operations. Examples of malicious cyberattacks include phishing, malware, and distributed denial-of-service attacks.
Security Breach For An Organisation
A security breach is an incident where sensitive information is accessed, stolen, or compromised without authorization. It can include unauthorized access to a system, network, or database, as well as the theft of confidential data such as passwords, credit card numbers, or personal information. Security breaches can have serious consequences for organizations, including monetary losses, reputational damage, and legal liabilities.
Common Causes Of Data Breaches
1. Weak Security Practices: Weak security practices, such as outdated software, poor password management, and lack of encryption, can make it easier for cybercriminals to gain access to a system and steal data.
2. Human Error: Human error, such as clicking on malicious links or downloading malicious software, can also lead to data breaches.
3. Malware: Malware is malicious software created by cybercriminals to gain access to a system and steal data.
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