A data breach occurs when unauthorized people access or expose sensitive information, such as customer or financial data, or intellectual property.
Unlike data leaks, where information is made public unintentionally, data breaches are usually the result of malicious attacks or serious lapses in security.
The impacts on organizations can be severe, including financial losses, reputational damage, lawsuits, and regulatory sanctions. Breaches are also distressing for individuals. They expose us to the risk of fraud, identity theft, and the violation of our privacy.
What causes data breaches?
According to the Verizon 2024 Data Breach Investigations Report, the main ways attackers break into organizations are stolen credentials, phishing, and exploiting software vulnerabilities.
Credentials are a factor in 49% of breaches. Millions of stolen credentials are offered for sale on the dark web, where a single set can be bought for as little as $2.
Cybercriminals steal credentials using phishing and social engineering tactics to trick their victims into handing over their usernames and passwords.
They also exploit unpatched vulnerabilities in software. For example, in 2023, attackers stole a vast amount of data from the MOVEit managed file transfer platform. They exploited a vulnerability that the platform’s developers hadn’t noticed.
Misconfigured software, such as lax privacy settings or features enabled unnecessarily, can also leave you exposed.
Some data breaches are caused by insider threats from within the organization. These can be deliberate sabotage or simply human error.
Preventing data breaches
You can reduce the risk of a breach by implementing good security practices across your organization and creating a culture of security awareness. For example:
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Conduct regular security audits: Assess your systems for vulnerabilities and address them proactively.
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Implement robust encryption protocols: Classify your data, and ensure sensitive data is encrypted both in transit and at rest.
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Train your employees: Everyone in your organization has a role to play in keeping it safe. Educate your employees to recognize phishing attempts, follow cybersecurity best practices, and foster a culture of security awareness.
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Invest in advanced tools: Solutions like Cybercheck can help you detect threats before they escalate. We constantly monitor the places on the open, deep, and dark web where cybercriminals buy and sell stolen data. If cybercriminals are trading information about you or your organization, we alert you right away so you can take immediate action.
Responding to a data breach: A checklist for organizations
Any organization can suffer a data breach, so it’s vital to be prepared. Use the following checklist to help you create a structured response plan:
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What went wrong? Conduct a root cause analysis to understand the origin of the breach.
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What types of data are affected? Classify the breached data by sensitivity and potential impact.
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Who is affected? Identify whether the breach impacts customers, employees, or partners.
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What volume of data is involved? Assess the scale of the breach to prioritize your response.
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What’s the risk? Evaluate the likelihood of the data being misused.
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What training have your employees received? Review whether human error could have contributed to the breach. Identify gaps where you need to implement or extend your security awareness training program.
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What actions have you taken? Document the immediate mitigation steps, such as patching vulnerabilities or resetting credentials.
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Have you informed everybody who needs to know? Ensure you meet your legal obligations to notify the affected parties and regulatory authorities.
Data breaches are a major business risk
Data breaches are a business risk with far-reaching implications. As cyberthreats increase, a strategic approach to security is vital for your organization’s operational resilience.
By staying informed, vigilant, and prepared, you can help your organization stay safe.
