What is a Data Breach?
A Data Breach occurs when confidential or protected information is exposed to an unintended third party. This information can be used to gain financial advantage, cause damage or steal personal information.
A breach of a company’s system could expose confidential or sensitive information, such as credit card or bank account numbers and Social Security numbers. It can also include internal documents, photos and records that are important for a business’ operations or reputation.
Criminals often sell the data they obtain in a breach on the dark web. This puts the victims of a breach at elevated risk of identity theft for years to come. Criminals may also use the breached information to hack into other accounts and steal funds.
Companies that are the victims of a breach often suffer financial loss and are harmed in their reputation. They might lose customers or have to pay large fines.
Malicious insiders are a common source of breaches. This includes employees who are angry or laid off and want to hurt a company, or greedy workers who want to profit from the stolen data. It can also include hackers who commit intentional cybercrimes for their own financial gain, either as a lone operator or as part of a network.
If you’re a victim of a data breach, work with forensics experts to determine the source and scope of the incident. Analyze backup or preserved data to examine what types of information were compromised and who had access at the time of the breach. Review the data protection policies of service providers involved in the breach.