Data Breaches: 2017 a Year in Review

If your business is processing credit card payments, using technology to store data or transfer data one thing is for sure – your data is vulnerable. Cyber-crime as an industry is evolving every day and it’s a constant battle for security professionals to stay one step ahead of the game in protecting our data.

At NTC Texas, security is our top priority. As an organization we stay educated and informed on the latest security technology to ensure our clients have the best data protection. In an effort to keep our readers up to date, we wanted to share some info and stats on data breaches in 2017 released by Gemalto in their annual report.

Who is Behind These Data Breaches?

When we imagine cyber-criminals, most people imagine a foreigner, holed up in a dark room, in a far-away land hacking databases and selling information on the black market. Although this is most often the case, people fail to realize that there are several ways data is stolen. According to Gemalto’s preliminary report 74% of data breaches were conducted by a malicious outsider, 18% is a result of an accidental loss of information (carelessness), 8% are a result of a malicious insider (employee or trustee) while 1% of breaches were state or government sponsored (foreign).

What Information is Being Targeted?

The number one goal of cyber-criminals has always been, and remains, identity theft at a staggering 74% of breach cases involving identity theft in 2017.  Gemalto’s report states, “The fact that the number of identity theft breaches continues to remain high and result in many records being stolen shows that organizations are still not adequately addressing this threat.”
Other information being targeted is financial access at 13% and account access at 6%.

Which Industries are Being Targeted?

There are always some industries being hit harder than others, Healthcare being one of them. Healthcare was the hardest hit of 2017 in terms of number of breaches, coming in at 25% of total breaches. Not surprisingly, Financial Services comes in at close second at 14%, Education at 13%, Retail at 12%, Government 10% and Technology at 8% (down 7% from the previous period).

Although we are all at the mercy of security technology and experts and their ability to stay ahead of the savvy of cyber criminals it’s important for us all to stay on top of the latest information and best practices.

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