August 24, 2017 by Rodolfo Melgoza
Anyone who’s turned on the TV or clicked on their favorite news oriented website has seen the constant drumbeat of data breach headlines. This year has already been a productive year for cybercriminals. As of June 30th, 2017, there have been 2,227 public data breaches involving the theft of more than six billion records. This already surpasses the total number of records stolen in all of 2016.
The list of hacked companies is impressive but depressing at the same time. Here are some of the more notable hacks:
- GameStop confirmed it was hit by a cyberattack in June. The company warned customers that payment card data used on its website from August 2016 to February 2017 was accessed by criminal third parties.
- Xbox 360 was attacked on Feb 1st.
- In March, Yahoo announced its third breach in less than six months – 32 million users’ accounts were accessed from 2015 to 2016. The news came just months after the tech company confirmed more than one billion accounts had been leaked in 2013.
- Verifone was hacked in March, 2017.
- Chipotle was breached in April, 2017.
- Arby’s fell victim to a breach between October 2016 and January 2017, when more than 335,000 customers had their payment card information stolen.
- The list goes on, and on.
It’s not just the size of these data breaches that’s so alarming. It’s also the rising costs associated with a data breach and the frequency in which they are happening. Studies show that the average cost of a data breach is well over a million dollars, and some researchers say it could be as high as $4 million dollars per breach.
Fortunately, there are new game-changing technologies that can significantly reduce the possibility of your corporation experiencing a major data breach. Modern machine learning and user / entity behavior analytics (UEBA) can dramatically improve a company’s chances of avoiding a data breach.
More than ever before, organizations need to take whatever steps are necessary to improve their security infrastructure.
Read our blog on how Millions of Verizon Customer Records Exposed in Security Lapse