There have been an exponential increase in the amount and severityof large-scale, well-publicized data breaches. With data breaches occurring regularly, people have become desensitized to them. This isn’t good, since the protection of data has never been more important. Not only are business required to announce that a data breach has occured, they are also obligated to pay fines due to regulations in accordance with GDPR
The seriousness of data breaches has cost some companies their entire business, and the predictions don’t look good: according to reports from Teramind, 231,354 data records are lost or stolen in a 60-minute period.
A data breach is a security incident of unauthorized release of private and sensitive information. The most frequent scenario is when a cybercriminal infiltrates a database and compromises sensitive data, whether it’s just merely that data or copying, transmitting or using it in any way. Data breaches can expose personal information, financial information such as credit card numbers from individuals and corporate secrets, their software codes, customers and even intellectual property, as in the major Sony breach.
After a data breach, losses may result from an attacker impersonating someone from the targeted network and his gaining access to otherwise secure networks. If regulatory compliances are violated, the organization suffering the data breach can face legal fines.
Data breaches can happen for a number of reasons; targeted attacks can lead to the compromise of identity, money theft, or it can even happen accidentally. Unfortunately, data breaches are mostly performed by cybercriminals. In a classic example, an attacker gains access to a corporate or organization’s private network where he can steal data from employees, or even go further and steal sensitive data from the organization’s database — containing information about customers, manufacturers, product development secrets, etc. A big issue with these kinds of breaches is that the attack and infiltration into the network can go undetected for long periods of time. Sometimes, they never get detected.
Hackers attack every 39 sec, on average 2,244 times a day.
Some data breach and hacking statistics are presented below to help quantify the effects of these attacks.
53% of companies had over 1,000 sensitive files open to every employee.