Data breaches refer to incidents where sensitive, confidential or protected information is accessed, stolen, used, modified or disclosed by an unauthorized individual. This can involve personal and financial data like names, addresses, social security numbers, or credit card numbers, and losses range from tens to millions of records.
Data breaches are increasingly common due to digital transformation and cybercrime growth. Breaches rose 68% from 2020 to 2021, according to the Identity Theft Resource Center. The healthcare sector saw the most, followed by the government sector. Breaches can happen to any organization, with major consequences. For example, the Colonial Pipeline breach disrupted fuel supplies. No network is impenetrable, so breaches are an inevitability.
Breaches directly impact both individuals and organizations. Individuals can experience identity theft, account fraud, credit damage, and often emotional distress. Meanwhile, businesses face regulatory fines, lawsuits, investigation costs, and reputation loss. A 2021 IBM study found the average data breach cost hit $4.24 million per incident.
Weak or compromised credentials are a leading root cause of breaches. Employees may fall for social engineering scams and install malware that harvest data. Simple or overused passwords across accounts can be easily broken, further risking credential leaks. People can mitigate this problem with strong password policies, multi-factor authentication, employee security training, and dark web monitoring for stolen credentials.
Unaddressed software vulnerabilities are prime targets for attackers to gain system access and steal data. Despite available patches, many organizations delay implementing updates due to complexity or potential compatibility issues. Regular patching, robust vulnerability management, and monitoring for exploits are key for closing security gaps before criminals find them.
While external attacks draw more attention, insider threats play a major role in data breaches. Employees or contractors with legitimate access can intentionally or accidentally expose data in ways that bypass security controls, such as leaving sensitive documents in shared network drives. Monitoring for suspicious access patterns, limiting access rights, and providing employee education help counter any insider threat.
Breaches can also occur when physical records or devices containing sensitive data are lost, discarded or stolen. For example, an employee might leave a laptop containing unencrypted data in a public place, or paper records may be improperly taken from an office. Keeping track of physical files and technology is essential to preventing this issue.
Read our blog to learn about the most common types of malware attacks, five signs you may be affected, and additional malware prevention strategies.
Organizations can take various steps to strengthen security and reduce risks, including:
Having an incident response plan is crucial for quickly containing a breach and managing the aftermath. Key steps include:
By understanding common breach types, strengthening defenses, and having a response plan, organizations can become more resilient to the threat of data compromise.
Our team of seasoned experts understands the intricacies of the evolving cyber landscape. With years of experience and a strong focus on security, we stand ready to assist you in safeguarding your data against even the most sophisticated threats. We offer a range of services, from implementing robust security measures to designing tailored incident response plans.
Data breaches can happen to anyone, but with the right partner by your side, you can significantly reduce your risk. Don’t wait until a breach occurs to take action. Contact 12 Points Technologies LLC today, and let us help you build a fortified digital fortress that secures your data and ensures your business’s continuity. Your data’s safety is our mission, and we’re here to help you navigate the complexities of the digital world with confidence.
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