Cost of Data Breach – do the numbers mean anything?
Okay, here are some numbers that should help get our heads out of the clouds or douse that ego with some lukewarm water. At least, a quarter of all data breaches in 2018 were as a result of human error, bear in mind that this is from a report by the revered SkyNet wannabe IBM in collaboration with the IT privacy think tank Ponemon Institute. The study aptly named ‘Cost of Data Breach‘, further showed that across over 500 organizations in 16 countries (the breath of the study) and 17 industry sectors, human error accounted for 24% of data breaches -think faulty entries, system glitches and the like- through the study period i.e. July 2018 to April 2019.
Firstly, libations must be poured for the lost interns responsible for those “critical” excel docs, because as cynical assumptions will allow, if one takes into consideration the fact that the healthcare industry suffered the most as far as data breach cost is concerned (almost $6.5m), they will bear the immediate brunt of any blowback. ThreatPost also reported that even as healthcare data and information is the most important, the industry itself is still struggling to adopt security standards that are reflective of the kind of data processed on a regular basis. Meanwhile, this wet towel of a report still has some info that will probably be ignored; although the extensive use of encryption in concerned information systems helped mitigate cost of data breach by $320k, extensive migration of systems to cloud providers ended up costing $300k in data breach cost…is this an ‘apples to oranges’ situation? Or are patterns being spotted where none exist.
“Healthcare data is some of the most significant and yet the healthcare industry is struggling to implement standards that reflect the caliber of sensitive data that their systems process.” George Wrenn – CyberSaint Security
The Invulnerable Google…not!
Essentially, the take away here is; be careful of links you click, be sure of the spelling of the website URL you want to look at, make sure sites where you make transactions carry a padlock in the address bar or that ‘https://’ precedes the website name. Not foolproof, but will definitely reduce chances of being taken unawares when making those purchases.
Oh Ye Online Gamers! You are Prey!
Keep in mind that a lot of people will have the same online account tied to theie MineCraft, FortNite and Blizzard profiles making them easy pickings for hackers. An Enzoic staff is quoted in an interview as saying that with multiple accounts to one person, hackers can swipe as much as $40 per active account. With high scores and next stages as driving interests, only few care about security practices, meaning weak passwords and such, help place targets on these unsuspecting high score hunters. Gaming forums and websites are not helping issues either with ArmorGames, HBgames, BlankMediaGames etc. being recent examples of compromised websites according to data breach directory Vigilante. In this case as expressed by Wilson of Enzoic, gaming companies basically calculate that it is better for business to allow customers quickly make purchases and transactions with ease and speed at the cost of better security than make sure customer info is kept secure. Well, no surprise there, the bottom line rules all. Read this one I wrote to confirm this.