For instance, in the healthcare industry, nearly 30% of healthcare team members acknowledge using personal devices to communicate private patient details. In 2019, local municipalities across the U.S. have had their IT infrastructure disrupted by ransomware attacks. Phishing campaigns are obnoxious, but spear phishing campaigns are downright nasty. PG Program in Artificial Intelligence and Machine Learning , Statistics for Data Science and Business Analysis, IBM’s annual Cost of a Data Breach Report, Verizon’s Data Breach Investigation Report, Empowering developers to own Code Security. A study by Deep Secure found that 45% of employees would consider selling company data to outsiders, and, incredibly, this information is very affordable. Ransomware attacks have received a new lease on life, increasing by 500% year-over-year, while serving as a serious data security risk for businesses, government agencies, and beyond. To counteract the threat posed by malicious intentions, pay particular attention to who you hire. Rather than selling stolen data online, thieves are exploiting companies for a ransom payment, creating a no-win scenario for businesses victimized by this approach. Discouraged by the notion that a security incident or privacy violation is an inevitability, too many companies will give up, taking their chances rather than fortifying their defenses. The path to navigating data protection risks is often filled with uncertainty. Laws concerning data privacy and security vary internationally. These emails can flood corporate inboxes at little expense to hackers. The report found that “pure fun” was one of the top reasons for a cybersecurity or privacy-violating incident. Surrey KT8 2RY When it comes to human error, you can help to reduce the risk by properly training your staff. Sometimes data breaches and privacy violations are the work of sophisticated hackers who take advantage of particular vulnerabilities to steal information. Make sure that your employees are up to date on cyber security. Unfortunately, the cost to recover data has more than doubled in 2019, and all signs indicate that this trend will continue well into next year. Password-Related Threats 5. Protection of personal data and data security. What Are the 3 Biggest Risks to Your Data Security. The integrity and privacy of data are at risk from unauthorized users, external sources listening in on the network, and internal users giving away the store. Employees present a serious risk to the data security of your business. Unfortunately, the personal computer of a remote employee may not be as secure, creating a significant risk when store sensitive data. Falsifying User Identities 4. If you throw documents and hard-drives away without destroying them properly, other people could easily get access to all of your sensitive business data. The study found that 15% of UK employees would sell information for $1,260, while 10% would sell data for as little as $315. This turnover – and the inevitable performance lag that accompanies overworked employees – leaves companies vulnerable to a data security or privacy failure. That’s probably why nearly 2/3 of cybersecurity specialists have considered quitting their jobs or leaving the industry entirely. To lessen the chance of sensitive data being exposed deliberately or by mistake, you must ensure that the company you are partnering wit… Data security also protects data from corruption. Employees present a serious risk to the data security of your business. So make sure these weak links do not cause problems for your business and keep your data safer. 1. Today, data security is top of mind for companies, consumers, and regulatory bodies. Attacks on big data systems – information theft, DDoS attacks, ransomware, or other malicious activities – can originate either from offline or online spheres and can crash a system. Another common risk posed to your data security involves how you destroy your sensitive data. The shift to remote work over the past few months has increased the need for organizations to re-evaluate their security and risk management practices. Of course, sometimes employees, either by accident or on purpose, can be a company’s greatest liability. Isaac Kohen is the VP of R&D of Teramind https://www.teramind.co. Companies often have terabytes of data, and the risks of data breach rise when companies don’t know where critical and regulated data is being held across their infrastructures — on desktops, servers and mobile devices or in the cloud. 1: Disgruntled Employees “Internal attacks are one of the biggest threats facing your data and systems,” states Cortney Thompson, CTO of … This isn’t a problem until it becomes a huge problem when they decide to leave the company or are forced out by institutional or market dynamics. Trustwave released a report which depicts how technology trends, compromise risks and regulations are shaping how organizations’ data is stored and protected.. Data protection strategy. Rather than controlling the controllable, accounting for the risks, and implementing a security strategy that addresses holistic data security, they just do nothing. For instance, a report by Risk Based Security found that email addresses and passwords are the most sought after data online, occurring in 70% of all data breaches. It underscores the blase attitude toward data security that still permeates many organizations, which holistically represents a profound threat heading into next year. Using personal devices or personal accounts to convey sensitive customer information is frighteningly common. SMBs and other businesses without the most recent cybersecurity capabilities are all exposed to this threat. The common perception today is that security risks generally come in the form of hacking of computer systems as well as social engineering attacks. To be sure, bribing employees isn’t the most obvious way to perpetuate cybercrime, but it’s a vulnerability that companies need to be prepared to address. While the Dark Web offers a vast network of sales opportunities, increasingly cybercriminals are turning back to the source for their income. 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