The 2014 Data Breach Investigations Report published by communications giant Verizon shows that data security incidents and breaches are increasing with each passing year. The report which covered 50 organizations across 95 countries revealed that there were as many as 63,437 data security incidents reported in 2013, out of which 1,367 incidents pertained to a confirmed data breach. Equally alarming is the finding that not all the security incidents were aimed at data-theft or misuse. Most of them were aimed at sabotage or merely having fun.
Even the methods and techniques used by people to perpetrate a data security breach have increased. The top 20 techniques adopted by hackers in 2013 were:
- Use of stolen credit cards (hacking),
- Export data (malware),
- Phishing (social),
- Ram scraper (malware),
- Backdoor (malware),
- Use of backdoor or C2 (hacking),
- Spyware and or Keylogger (malware),
- Downloader (malware),
- Capture stored data (malware),
- C2 (malware), SQLi (hacking),
- Brute force (hacking),
- Rootkit (malware),
- Tampering (physical),
- Disable controls (malware),
- Password dumper (malware),
- Privilege abuse (misuse),
- Scan network (malware),
- Adminware (malware),
- Footprinting (hacking)
The impact of a data security breach on a company's bottom-lines, operations and business continuity are far-reaching.
- Strategic Risk: Incidents of data security breach imply new IT expenditure and operational delays, both of which force a change in business strategy in the short term.
- Reputation Loss: Customers, prospects, employees, shareholders and vendors begin to lose faith in the Management's commitment to data security.
- Brand Equity: Once customer trust and shareholder trust suffers, the brand equity that was built over decades can be lost, giving competitors significant advantage.
- Customer Risk: Customers begin to evaluate alternates which slightly erode customer loyalty and affect new customer acquisition or retention.
- Shareholder Perceptions: Any data security incident affects shareholder confidence and can limit the flow of capital into the company.
- Market Share: Customers who are considering alternatives make the transition during incidents like a security breach, which can have a lone-lasting impact to your position.
- Operational delays: Incidents of data security breach calls for a re-evaluation of security procedures, personnel, and technology. This and the time taken to work with recovery partners and agencies for lost data can affect business continuity.
- Financial: Customer attrition and operational delays following a data security incident affect revenue flow and make it harder to honor financial commitments for some time.
With so much riding on Data Security, business organizations need to constantly re-evaluate their security infrastructure – both physical and digital, for smooth business operations.
As pioneers in Storage, Networking, Disaster Recovery and Business Continuity, Dynamic Network Factory has a strong Data Security practice. Our technical expertise and awareness of the latest advances in data security make us a partner of choice for industries such as Financial Services, Defense, Government agencies, Energy and Utility, Healthcare and Education. DNF Corp helps safeguard the integrity of their data and in turn – insure their bottom-line.