The 2020 Cost of Data Breach report from IBM and the Ponemon is out. It provides a detailed analysis of causes, costs and controls that appeared in their sampling of data breaches. The report is full of data, and the website allows you to interact with its information so that you can do your own analysis and/or dig into aspects relevant to you and your industry.
Data breaches are growing in frequency and intensity amidst the recent Coronavirus pandemic, having increased by nearly 273% in the first quarter compared to the same time frame last year. In fact, 2020 may very well be remembered as the year when cybersecurity became a business problem rather than a technology issue. The driving factor here is the recent shift in workforce culture. More and more organizations are now setting up remote working teams.
Chinese ad network, Mintegral, has made headlines this week for allegedly spying on user activity and committing ad fraud. The Mintegral SDK for iOS is said to contain malicious code designed to monitor user activity in order to facilitate ad fraud, and apparently this has been going on for over a year. Like other third-party advertising SDKs, the Mintegral SDK is a tool that helps developers monetize their apps via advertising.
Filters Fast knowingly allowed approximately 3.4 Million customers to shop on their compromised website for over 5 months, in a year-long data breach. FiltersFast.com sells a variety of home filtration products. The company is based in North Carolina, USA, and according to SimilarWeb, the company averages approximately 574,190 website visitors each month.
Data breaches are a common occurrence in the world we live in today. Whether its personal data that relates to an organizations’ customers or data referencing the inner workings of an organization’s infrastructure, when it falls into the wrong hands, the consequences are disastrous. It’s for that reason that organizations need to ensure that they have all of the necessary controls in place so that their data is safe and secure.
2020 keeps on proving the old adage, “It gets worse before it gets better.” We still seem to be in the “worse” stage. If you’ve been paying attention to the news—and I don’t blame you if you’ve been taking a break for sanity’s sake—you might have noticed (in addition to the reports about the pandemic and social issues) hacks and general security breaches have been ramping up.
Last year, Capital One showed the world why data governance is so important when it was the victim of a massive data breach that exposed the personal data of 106 million customers. It is still one of the biggest hacks ever recorded, and the company has now been fined $80 million by banking regulators. A “what’s in your wallet” meme would work great here, but let’s keep this classy.
The Managed Threat Detection and Response (MTDR) analyst team was notified of multiple logins from different countries. With the shift to a more remote workforce, multiple logins from different locations is not uncommon, but the team discovered the potentially compromised account belonged to a third-party and immediately took action. Every year businesses lose millions due to data breaches caused by third parties.
2019 was the worst year on record for data breaches by a long shot, increasing by nearly 79% from 2018. Billions of records were compromised as bad actors exploited vulnerabilities and insiders accidentally and maliciously compromised customer and company data. Unfortunately, the record won’t last long. As we approach the halfway point in 2020, this year is already on pace to be the most devastating year ever for data breaches.