What is a Data Breach?
Data Breach is when your personal information is stolen from your computer, phone, tablet or any other device. Criminals can break into your system through weakness in passwords, social engineering, unpatched applications, insider risks or malware.
Once inside, attackers look for the information they want. This may include personal data like names, birthdates, addresses, bank account details or health records; or business information such as source code, business plans, merger and acquisition files and financial statements.
If the criminals are able to piece together enough of your personal information, they can pretend to be you to commit crimes such as identity theft or fraud. This can include stealing your money, taking out credit agreements or making illegal purchases.
It can also be psychologically damaging. Criminals can make you a target for more serious crimes like blackmail, and the stress of having your private life exposed can exacerbate existing mental health issues such as anxiety or depression.
The impact of a breach on individuals and businesses can be significant and lasting, with both sides having to spend money on recovery and repair. Many people will suffer from financial loss, while businesses might have to pay for legal fees, fines or lose trading time if their e-commerce platforms are compromised. In the case of personal data breaches, the victims may have to change their passwords and authentication information. Criminals can also use data breaches to sell personal information on the dark web for years after a breach, so there is a risk of identity theft.