Data Breach: Stolen Sensitive Data is a New Commodity
July 05, 2016 | Data Breach, Privilege Misuse
As cybercriminals turn more technology savvy, possessing necessary tools and competence to breach your IT security systems, businesses across the world, are facing a grave challenge, which is to protect sensitive data from hackers.
Organized cybercriminals, rogue hackers, and state-sponsored attackers, are no more inclined to deface websites, or perpetrate denial-of-service attacks. They have become far more threatening. Businesses are now attacked where it hurts the most. Personal information, bank account numbers, credit card details are now eyed by cybercriminals. And more worryingly, the theft of these personal sensitive data is rising is at a brisk pace. We are witnessing the trend as stolen data base has now become a commodity.
Indeed, as the LinkedIn data-breach incident showed us, hackers were selling 117 million stolen user-names and passwords.
And it’s not just social networking sites that have vast amount of data base exposed to breaches. Retail and travel companies are becoming increasingly vulnerable to hacking.
Recently, Japan’s largest travel agency, JTB Corp reported a massive data breach. Hackers obtained critical IT data such as passport details of about 7.9 million customers by attacking the company’s subsidiary server. The incident once again underlined companies’ increasing vulnerabilities when they store sensitive data on systems connected to the internet.
Few years back, one of the largest retailers in the US, Home Depot, suffered a data breach of a gigantic proportion. Hackers stole some 40 million credit card details, including 54 million email addresses.
The investigations into the incident revealed that hackers got hold of the customers’ payment records through the point-of-sale credit card system. This was possible as hackers had the username and password for one of the retailer’s third-party vendors.
These incidents underscore that no matter how big organizations might be, hackers are quick to exploit compromised IT security systems, especially Privileged Accounts that are vulnerable to insider threats.
As the recent Verizon Data Breach Investigation Report pointed out, a compromised Privileged Access Management was the cause behind a spate of high-profile breeches involving big US corporations.
ARCON is a leading enterprise risk control solutions provider, specializing in risk-predictive technologies. ARCON | User Behavior Analytics enables to monitor end-user activities in real time. ARCON | Privileged Access Management reinforces access control and mitigates data breach threats. ARCON | Secure Compliance Management is a vulnerability assessment tool.
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