What is a Data Breach?
A Data Breach occurs when confidential or private information is lost or stolen from a device, network or system without the owner’s permission. It can occur in the private sector as well as in government agencies, and affects organizations of all sizes. For individuals, breached data may result in identity theft, ruining credit ratings, fraud, and other long-term problems. Businesses experience financial loss, disruption of business and legal ramifications.
A breach begins when a cyberattacker discovers and exploits a vulnerability, such as an unpatched application or network hole. The attacker then uses techniques to advance privileges, known as lateral movement, to gain further access and steal data. Finally, they cover their tracks by disabling auditing features or clearing logs to avoid discovery.
The most common reason for data breaches is financial gain. Hackers often sell the personal information they steal on the dark web, which puts people at elevated risk of identity theft for years to come. Breaches also expose businesses to lawsuits, as they are required to notify affected individuals and in some cases the media if their data is exposed.
While preventive measures such as regular vulnerability assessments, patching and monitoring can mitigate the effects of a breach, there is no way to eliminate the risk altogether. However, the latest technology advances can reduce the time to detect and contain a breach. This allows companies to minimize the damage, allowing them to focus on recovery and avoiding further harm.