What is a Data Breach?
Data Breach is when private or confidential information, such as login credentials or personal financial data, is lost, stolen, accessed or modified by someone unauthorized to access it. This can happen either accidentally or by intent. A hacker is often the culprit but can also be a disgruntled employee or even a competitor. It seems that you can’t go a week without hearing about another data breach from a variety of different attack types. These breaches can cause significant damage, from the loss of customer loyalty and brand reputation to hefty fines and lost productivity for businesses trying to find and fix the vulnerabilities.
Cyber criminals can use this information to steal an individual’s identity, which they can then use to gain access to their bank accounts, credit card information, and social media and email accounts. This can be done by scanning point-of-sale devices that scan and read cards, physically stealing information from physical points of sale, stealing login credentials through “credential stuffing,” or even by hijacking an individual’s device with ransomware.
When a breach occurs, it’s important to take swift action and follow a plan of attack. This includes working with forensics experts to capture forensic images and identify the extent of the breach. It’s also important to determine what information was accessed and how many individuals are affected. Once this information is known, it’s time to start working on a notification strategy. Many states require companies to notify affected individuals of data breaches. They may also have requirements about how this information should be communicated, including whether it’s electronic or paper and if the data was encrypted.