Late last week, Equifax – one of the four largest credit reporting bureaus in the United States – disclosed that in July, they experienced a massive data breach that cloud very well represent the largest compromise of significant personally-identifiable information (PII) ever. As reported by the company, data on over 143 million people was compromised, and the scope of that data included some of the most sensitive data that exists regarding individuals: names, addresses, birth dates, and Social Security numbers were captured, along with credit card numbers and other PII for a subset of those persons whose data was breached. Equifax disclosed that the compromised data included residents not only of the United States, but also Canada and the UK.
Last Friday night, a cacophony of 156 public warning system sirens sounded in Dallas, Texas. The sirens weren’t responding to a danger, such as tornados or other similar threats. Instead, these sirens were hacked, sounding off maximum volume well into the early hours of Saturday morning. This may see
m like a prank similar to something out of a modern-day “Animal House,” or a badly-scripted Hollywood treatment of hacking culture. But the reality is that attacks on physical infrastructure represent a potential threat that pales the scope and effect of traditional hacks.
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?
As more services continue to move to an online environment, the importance of cybersecurity is being emphasized in every industry in the market. That said, certain sectors are feeling the pressure of this concern more than others, with perhaps the best example of this being retail organizations.
The retail world has been repeatedly hit by cyberattacks in the past, and it doesn't look like hackers will be stopping anytime soon. It's imperative that company leaders in this field begin to prepare their businesses for the worst, so let's take a look at some reasons why retailers should beef up their current cybersecurity defenses.
Data breaches are major events that place tremendous pressure on IT departments to rectify. Unfortunately, numerous case studies exist where companies have not only failed to prevent a cyber attack, but they've also struggled (at minimum) to mitigate the damage. The end result is often lost customers and a dented bottom line.
"Data breaches are increasing because there are more connected devices than ever."
Why are Data Breaches on the Rise?
One reason data breaches are increasing is because there are more connected devices than ever. And that number is expected to rise.
Gartner predicted connected "things" would jump 30% between 2015 and 2016. Other experts agreed, such as Fortinet Global Security strategist Derek Manky and Morgan Stanley Chief Information Officer of Technology and Information Risk Matthew Chung.
Has your company's network been compromised? If you're not sure, you should know how to tell because it could prevent the loss of critical data.
"Companies, both big and small, may appear to be indestructible, they're always at the mercy of their IT security systems."
While large and small companies may appear to be indestructible, they're always at the mercy of their IT security systems. When their networks are breached, cybercriminals can typically steal important data with ease such as a customer's personal and financial information. The end result is often damage to the company's bottom line because of lost customers.
But what if a company could prevent (or at least slow) these cyber attacks by not only building a robust IT defense system but also by knowing when a hacker is attacking? In this article we'll discuss how companies can tell when a cybercriminal is already in their network. In turn, this will allow IT teams to quickly react and avoid losing crucial data.
Black Friday is right around the corner. Is your company ready for it?
We hope so, and we're comfortable assuming that all consumers nationwide hope so too. After all, their livelihood could depend on it.
"Each year cybersecurity becomes a major topic around the holidays."
Each holiday season, cybersecurity becomes a hot topic. People swipe their credit cards left and right to buy goods and services, and they worry about the payments later. While shopping can be fun, it's also risky.
Why is holiday shopping so dangerous? Blame PoS malware.
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.
IT security is one of a company's major lifelines. Data breaches alone cost companies nearly $160 per record, according to a 2016 Cost of Data Breach Study, and often hundreds if not thousands of pieces of data are stolen. The Trump Hotel Collection is facing the harsh reality of a data breach after it agreed to settle for $50,000 in penalties and improve its data security protocols after cybercriminals gained access to 70,000 credit card credentials, according to Computer World.
IT security is a growing issue that companies must address before it's too late. For example, take Yahoo, which recently experienced what some are calling the biggest breach of all time, when cybercriminals stole information from 500 million user accounts.
"Yahoo believes that criminals stole an assortment of personal information."
Confirmed by Bob Lord of Cisco in a statement, Yahoo believes criminals stole an assortment of personal information from users, although it suggests unprotected passwords, bank account information and payment card data were left untouched.