Fuse is Lit on the Data Breach Bomb

In surveys conducted by F-Secure, it has been found that three in ten respondents had experienced a form of cybercrime – ranging from malware or virus infection to email/account hacking and fraud.

This is just in the previous 12 months to boot. However, this figure then would rise to six out of ten when surveying those using online services that lead to a cyber attack breach.

Growing Pains

2020 saw 3 breaches per day estimating around 500 disclosed in the year’s first six months, leading to a figure around 163 million people will have had personally identifiable information  (PII) accessed and compromised that is rarely reported in news articles and barely register for restitution of justice.

In the past year, the underground parties established to aid cybercriminals in the monetization of stolen data from passwords to login details have grown exponentially, highlighting the vastness of the problem and the profitability of further attacks.

Consumers Under Fire

Whilst big industry businesses are a prime target for attacks due to the monetary value, personal information stolen from these organisations are still used on a smaller scale against people and families through identity theft, fraud and other harmful tactics. With the advent of data being stored digitally, hackers are gaining even more of an advantage to access untold amounts of personal information.

Among the highest tallied impacts from the survey included stress and concern stemming from cybercrime. Loss of control of personal information, as well as financial loss, data loss and time lost in dealing with the issue adds a fair amount of restless nature on the victims. Recovery of hacked or lost social media accounts provides a difficult process mentally due to the history of an individual being stored from photographs and other material that may not be stored elsewhere. Private conversations in apps like Messenger or WhatsApp are also filled with details and other things that cannot be found elsewhere once accessed and deleted.

Changes for Good

Fortunately, paying more attention to the basic tenets of cybersecurity can play a huge role in protecting consumers from moving forward. 70% of those surveyed had admitted to reusing old passwords or variations on the same password. With the adoption of multi-factor authentication adding further protection as well as investing in identity protection and monitoring services now becoming a more reasonable option to implement, a hopeful reversal of the trend for cyberattacks can effectively be measured moving forward.

For more information on data breach news and discussions on how to protect data online, check out the events from Whitehall Media and join in the discussion on fighting data theft. Contact us for more information about our events.