Data breaches can happen for several reasons. These include stolen passwords, malicious insiders, cyberattacks by criminals, and social engineering. While each can have risks, a data breach can significantly disrupt a business’s operations. This can result in lost productivity and revenue. It can also drive up costs for overtime and system repairs.
Additionally, it can negatively affect the supply chain. In addition, legal expenses can quickly increase if a data breach leads to class-action lawsuits.
How data breaches happen? According to reports, stolen passwords are the most common cause of data breaches. Of all the breaches companies suffered, 81% involved stolen or weak passwords. Unfortunately, it’s not always easy to spot these breaches early. It can take companies weeks even to realize they’ve been breached.
Regardless of how large a company is, there are many risks involved with data breaches. Unfortunately, detecting a data breach can take a long time, and the damage will likely grow throughout that time. This is why organizations must understand how to prevent these incidents and mitigate the damage.
A data breach can have long-term consequences for a company’s reputation and finances. Not only can a data breach affect a company’s bottom line, but it can also hurt the company’s reputation and credibility. In addition, government organizations are also at risk. By failing to keep their networks secure, they may expose highly sensitive information to foreign governments. This could put the citizens of that country in danger.
Malicious insiders can compromise systems without the administrators’ knowledge or leak sensitive data. This type of hacker may also be a pawn in a larger scheme. The data stolen may include names, birth dates, and test results. Companies should prevent malicious insiders from gaining access to sensitive data.
Malicious insiders can disguise themselves as delivery persons or company employees to access sensitive data. They can also install malicious code using USB flash devices. Companies must implement strict access policies and badges to prevent this from happening. Ultimately, the best defense against leaks of sensitive data is knowledge.
While external hackers cause most data breaches, malicious insiders can also be a company’s employees. For example, employees can be coerced to join a hacking group or steal company secrets.
Cyberattacks by criminals happen for a variety of reasons. A common goal of these attacks is to gain unauthorized access to IT systems. Attackers often masquerade as delivery people or employees or even install malicious code on computers using USB flash. To protect against these attacks, organizations must implement strict access policies and set up protocols for data loss prevention. Knowledge is the best defense against cyber attacks.
Cybercriminals target organizations by searching for vulnerabilities and exploiting these vulnerabilities. Some attacks are zero-day attacks, which occur before organizations have time to patch the vulnerability. Others include denial-of-service attacks, which attempt to overload a website or network. This can prevent legitimate users from accessing data. Additionally, attackers can sometimes use multiple infected machines to launch a distributed denial-of-service attack.
Social engineering is a common method used by cybercriminals to obtain confidential information. It involves sending an email that looks like it’s from a legitimate organization. Then, the user clicks on an attachment or links to a malicious website. This results in installing ransomware or malware on the user’s computer. These attacks can cause serious damage. As a result, security professionals say that companies need to make their employees more aware of social engineering attacks and implement policies to prevent them.
The most common type of social engineering attack is spear phishing. These attacks vary according to the nature of the target. Often, these attacks occur during tax season or around recent events. In total, 91% of all data breaches result from social engineering. This attack uses psychological manipulation to gain access to a computer system.