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Retailers are some of the most vulnerable organizations when it comes to data breaches. Due to the fact that these companies have to process enormous amounts of customer financial information, it simply makes sense that hackers would do everything they can to get past cybersecurity defenses.
Outside of the fact that a significant cyberattack will forever change how customers view your company, these incidents generally have significant financial fallout. To that end, what can a retailer expect to deal with when they're the victim of a data breach?
Due to the fact that credit and debit card data can be used to anonymously purchase goods and transfer money online, this information has become highly sought after in the criminal underworld. Hackers are compensated generously for gaining access to these cards, and are therefore motivated to break into the systems that hold them.
But exactly how do these individuals go about getting a hold of this information? Let's dive in:
Is your company spending more and more money on trying to keep up with the increased complexity of cyber threats?
You're welcome to be alarmed (it's a perfectly normal response). But don't be shocked. Cybercriminals, who often have plenty of time and resources to devote to their craft, are constantly becoming more sophisticated. And companies typically have to spread their resources out to various departments, limiting their ability to fully secure themselves. Sure, most have IT teams (or at minimum a dedicated IT professional), but that doesn't mean they're completely capable of handling the complexity and vast amount of threats bombarding their servers.
The Australian Red Cross is currently dealing with a massive IT security mishap that exposed thousands of Red Cross blood donors' personal information.
"The leak disclosed blood type, previous donations information and donor eligibility answers."
The IT leak didn't just reveal information such as names, telephone numbers, emails, addresses, and birth dates. It also disclosed blood type, records of previous donations, and donor eligibility data.
Troy Hunt, an IT security expert, first discovered the leak after someone contacted and provided him with a snippet of data from donateblood.com.au that included his personal information. The person then gave Hunt the entire set of data (1.74 GB or 1,286,366 records). The information also included Hunt's wife's personal information.
Businesses must take IT security seriously because their financial future depends on it. IT security is a broad topic that covers a range of different fields.
Here we'll discuss common vulnerabilities and why companies must ensure their operational systems are well-protected from cybercriminals.
"Interjection vulnerabilities are one of the most common and oldest web application vulnerabilities."
1. Injection vulnerabilities
Interjection vulnerabilities, such as cross-site scripting and CRLF injection, are one of the most common and oldest web application vulnerabilities because it's easy for cybercriminals to access and affect (or infect) them.
Protecting critical business data and customer information should not be taken lightly. The latest example of a major data breach comes out of Eddie Bauer, a clothing store chain located in Washington.
"Not every Eddie Bauer
customer was affected by the breach, but all would receive identity protection."
The company recently released a statement notifying its customers that its North American stores had been compromised by a security hack between January 2 and July 17 of this year. It did note that not every customer was affected, but that all customers would receive identity protection for 12 months.
CISOs (Chief Information Security Officers) or others who are in charge of a company's cybersecurity face a huge responsibility: they have to keep their firms' IT assets safe not just from malicious insiders and accidental leaks, but also from every hacker around the globe—at a time when more hacking scandals happen all the time.
EiQ has previously discussed the technical, interpersonal, and leadership skills required for CISOs to meet this challenge, and today we add three tips they can follow in order to perform at their best and manage the responsibility of their role.
The position of Chief Information Security Officer (CISO) is a crucial one within an organization, as the role calls for "superhero"-like responsibilities. CISOs are the executives responsible for stopping the thousands of hackers who may be out there attempting to breach businesses around the clock. To accomplish this challenging work, CISOs will be best equipped if they bring the following three types of skills to the job.
News broke in late April 2016 that Qatar National Bank (QNB), the second largest financial institution in Africa and the Middle East, had suffered a massive data breach. Details of this compromise have been hard to come by, and what hackers and other groups might be doing with the data leaked from QNB remain a matter of speculation for now. QNB has since released two statements that provide a few details about the intrusion.