As we move into 2020, it’s important to be aware of the data breaches that are likely to occur. In this article, we will explore how many data breaches are expected in 2020 and some ways you can reduce your risk of being a victim. We will also discuss steps you can take to protect your data should a breach occur, as well as the penalties you may face if you are caught engaging in unauthorized data access. By understanding the risks and taking appropriate precautions, you can help safeguard your information and keep yourself safe from potential damage.
What is a data breach?
There have been a staggering 1,294 data breaches reported in 2018 so far, according to the latest Breach Investigations Report from cyber security firm Gemalto. This is up from 906 breaches reported in 2017 and 571 breaches reported in 2016. In all, there have been 11,542 data breaches reported over the past three years. The numbers of data breaches are continuing to increase despite efforts by organizations to secure their data.
The reasons for the increase in data breaches are not entirely clear, but researchers say that hackers are increasingly targeting unprotected databases and gaining access to sensitive information such as credit card numbers, social security numbers, and personal email addresses. In addition, cyber criminals are now using ransomware to extort money from organizations after stealing their confidential data.
It is important for businesses and individuals to take steps to protect their data from being stolen or compromised. Organizations should use secure passwords and encryption software to protect their computer systems, and employees should always keep personal information such as social security numbers private. Individuals can also install antivirus software on their computers and keep track of their bank account statements for any suspicious activity.
Types of data breaches
A data breach is any unauthorized access to, or destruction of, the personal information of individuals. Data breaches can occur in a variety of settings, including businesses and government organizations. In 2015, there were nearly 1.4 million data breaches reported worldwide. That’s an increase from 2014, when there were 1.3 million reported data breaches. The majority of these breaches (86 percent) occurred in the US. Here are some other key findings:
- The average amount of stolen data per breach was $227,000
- Nearly two-thirds (64 percent) of data breaches involved at least one instance of pilfering sensitive information such as credit card numbers or Social Security numbers
- Data breaches cost businesses an estimated $3 billion annually
- Breaches are most likely to occur in the first year after a company acquires new information technology (IT) systems
How many data breaches are expected in 2020?
According to the Identity Theft Resource Center (ITRC), in 2020 there will be a total of 940 data breaches. This is an increase from the 892 data breaches that were recorded in 2019. The ITRC attributes this increase to a combination of factors, including more companies using third-party service providers and the increasingly widespread use of cloud computing services.
The Problem with Data Breaches
Data breaches are on the rise. In 2017, there were more data breaches reported than ever before. And this number is only going to continue to increase. In fact, one study found that the average company will experience a data breach every two months. This problem is not going away anytime soon, and it’s going to have serious consequences for businesses and their customers.
One of the most common consequences of a data breach is identity theft. Identity thieves can use your personal information to open new accounts, apply for loans, or even fraudulently fill out medical forms. Plus, if your personal information is stolen in a data breach, it’s easy for others to find out about it and use it too.
A data breach also affects business reputation. If customers learn about a data breach before you do, they’re likely to think less of your company and decide not to do business with you. This can have a big impact on your revenue and bottom line.
And finally, data breaches can lead to employee turnover. When employees learn about a data breach, they may feel threatened by the security implications and decide to leave their job in search of security elsewhere. This can hamper your ability to recruit new staff and damage your brand image overall.
So what can businesses do prevent these devastating consequences? Well first of all, they need to be proactive when it comes to protecting their data. They should actively monitor their systems for signs of unauthorized access and take steps immediately when they find out about a breach.
And secondly, they should make sure their employees are aware of data security policies and procedures. If employees know exactly what to do if they encounter a data breach, they’re less likely to fall victim to it in the first place.
The bottom line is that data breaches are a problem that’s only going to get worse in the years to come. Businesses need to take steps now to protect themselves and their customers from the consequences.
The Causes of Data Breaches
The causes of data breaches can be broadly categorized into two groups: internal and external. Internal breaches happen when unauthorized access is gained to sensitive data stored on an organization’s own systems. External breaches occur when data is accessed or stolen by someone who does not have access to the organization’s systems, but who instead obtains it through malicious means, such as phishing or social engineering attacks.
- Internal Breaches
Internal breaches happen when unauthorized access is gained to sensitive data stored on an organization’s own systems. The most common sources of such data are employee emails and passwords, customer records, and trade secrets.
Organizations should take steps to ensure that their systems are protected against unauthorized access, including using robust security measures such as firewalls and intrusion detection systems (IDS). They should also require employees to use strong passwords and encrypt their laptops using special software programs. In addition, organizations should hire a qualified information security consultant to help them implement these measures and protect their data from attack.
- External Breaches
External breaches happen when data is accessed or stolen by someone who does not have access to the organization’s systems, but who instead obtains it through malicious means, such as phishing or social engineering attacks. The most common sources of such data are online databases containing user information (such as email addresses and passwords) or financial records.
Organizations should take steps to protect themselves against external breaches, including using secure online authentication systems (such as two-factor authentication), and training employees on how to protect their data from attack. They should also deploy antivirus software and other security measures to protect their computer systems from malware and other malicious threats.
How to Protect Your Data?
- Protect your data with encryption
- Be vigilant about malicious email attachments
- Create strong passwords and change them regularly
- Don’t use easy to guess passwords
- Use anti-virus software and keep up to date
How to prevent a data breach?
The average number of data breaches per year is increasing, with 2017 seeing an increase of more than 50%. To prevent a breach, it is important to have strong cyber security measures in place. Here are some tips for preventing a data breach:
- Keep your information secure: Regularly update your software and firmware, install anti-virus and firewall protection, and keep your passwords secure.
- Train employees: Make sure all employees are aware of the importance of cybersecurity and how to protect company data.
- Encourage diligence: Implement policies and procedures that encourage users to take reasonable steps to protect their information, such as using strong passwords and not sharing personal information unnecessarily.
- Monitor activity: constantly monitor your network traffic and logs for suspicious activity. If you detect any unauthorized access or changes to your computer systems, quickly report this to your security team for investigation.
Prevention Tips for Data Breach
Prevention tips for data breaches include following best practices for securing your data, monitoring and managing your systems, and training employees on data protection.
Secure your data: Follow best practices for securing your data, such as encrypting sensitive information and requiring users to authenticate themselves before accessing sensitive data.
Monitor and manage your systems: Regularly monitor system security indicators and actively manage threats.
Train employees on data protection: Ensure employees are properly trained on data protection measures, such as encryption techniques, so they can be proactive in safeguarding the organization’s confidential information.
What happens after a data breach?
The Breach Investigation Team (BTT) at Trend Micro has released its latest report on data breaches, revealing that 1 in 4 organizations were hit by a breach in the past year. The report also finds that data losses totaled $3.4 billion in 2017, a 12% increase from 2016. Here are some of the key takeaways from the report:
- A data breach is costly and disruptive
Data breaches cost businesses an estimated $3.4 billion last year, up 12% from 2016. Estimated data losses include not just financial costs such as ransom payments or lost sales caused by publicity around a breach, but also indirect costs such as time spent investigating and addressing the incident.
- More organizations are being hit by data breaches
Organizations of all sizes have been hit by breaches in the past year, with healthcare organizations accounting for a large proportion of breached organizations (29%). In terms of sectors, retail was the most targeted industry with 46% of all breaches affecting companies in that sector. Manufacturing and transportation came second and third respectively with 33% and 29% of all breached companies falling into those sectors. Financial services were fourth with 24%.
- Data breaches are becoming more sophisticated
Data breaches are becoming more sophisticated, with attackers increasingly using lateral movement tactics to steal sensitive information or using zero-day vulnerabilities to gain access to systems undetected. In addition, some attacks now use ransomware to lock down systems and demand payment from the victim in order to release the data.
- Organizations need to take steps to protect themselves from data breaches
To protect themselves from data breaches, organizations need to take steps such as implementing a robust incident response plan and having a robust security posture in place. They should also ensure that they have strong data governance and security measures in place, including policies and procedures governing who has access to sensitive data, how it is stored, and how it is protected.
According to a recent study, there will be at least 147 data breaches in 2020. This is a substantial increase from the 86 data breaches that occurred in 2019. Clearly, businesses and individuals need to take steps to protect their data if they want to avoid becoming a victim of a cyber attack.