A data breach involves unauthorised personnel gaining access to confidential and sensitive information. Also known as data leaks, such incidents can occur unintentionally or intentionally. To date, the most notorious events include attacks on Yahoo (2013) and Facebook (2019), where millions of users’ data were compromised.
How Do Data Breaches Occur?
Data breaches can be executed by insiders (such as disgruntled employees) or via external attacks. When your server is not fully secure, hackers take advantage of the loopholes and vulnerabilities, and launch cyberattacks.
Hackers use a variety of techniques to infiltrate networks by making use of their flaws. Malwares can be installed on the organisation’s and/or individuals’ computers without being noticed. This allows hackers to gain entry credentials into servers. Phishing is another technique, which can be used to plant malwares into computers, and exfiltrate sensitive data.
Weak passwords can be easily decrypted, allowing hackers to gain easy access to individuals’ private information.
Oftentimes, data leaks are not discovered immediately. On average, it takes 180 days before organisations discovered their data has been breached.
Consequences of Data Breaches
Data breaches result in dire consequences. The average total cost of a data breach in 2020 is USD3.86 million per incident, according to IBM’s research.
Hackers may sell the stolen information on the dark web and in illicit underground marketplaces. The stolen data could range from customers’ full name to their identification numbers, residential and credit card details. These information could potentially be used to commit fraud, identity theft and extortion, etc.
Reputation damage is ultimately the greatest loss for any organisation. It can be a challenging journey to regain customers’ trust. Some enterprises may choose to cover up while others openly admit that the breach had occurred.
For instance, in 2016, Uber had attempted to cover up a data breach and paid USD100,000 to the hackers. It was only in 2017 when Uber disclosed to the public of the breach that compromised the data of 57 million users. Ultimately, the company faced multiple lawsuits for its management towards the breach. They also paid USD148 million in settlements.
How Polaris Fend Against Data Breaches
No organisations, regardless if it is large enterprises or small businesses, are spared for such cyberattacks. It is thereby crucial to ensure that your server is fully secured. With a strong defence system put in place, targeted attacks can be prevented.
Polaris safeguards your web application through its sophisticated features:
- Leaked Data: Polaris provides leaked data detection from open and paid intelligence feeds.
- Automated Application Scanning: Polaris scans your applications and servers to discover known vulnerabilities.
- Phishing: Polaris can detect phishing attempts masquerading as your website.