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Why Are Data Breaches Increasing?

Cyber attacks and breaches are increasing rapidly. In 2024, the global cybersecurity market is predicted to reach a value of over $300 billion, almost triple its value in 2015. This alarming trend raises the question: Why are data breaches increasing? In this article, we will explore some of the main reasons behind the rise in data breaches and what individuals and organizations can do to protect themselves.

The Advancement Of Technology

As technology continues to evolve and become more integrated into our daily lives, so does the threat of cyber attacks. With the rise of media devices, Internet of Things (IoT) devices, and mobile technology, there are now more entry points for hackers to exploit. This creates a larger attack surface for cybercriminals, making it easier for them to access sensitive data.

Moreover, technological advancements also mean malicious actors have more sophisticated tools and techniques at their disposal. This makes it easier for them to breach security systems and steal valuable data. As technology continues to progress, individuals and organizations must stay updated on the latest security measures and continuously improve their defenses against cyber attacks.

Lack Of Proper Security Measures

Another major reason for increased data breaches is the need for proper security measures. Many organizations, especially small and medium-sized businesses, do not have adequate security protocols in place, making them easy targets for cybercriminals who can exploit vulnerabilities and gain access to sensitive data.

Additionally, with the rise of remote work due to COVID-19, organizations have had to quickly adapt and often compromise on security measures. This has created a prime opportunity for hackers to exploit weak points and gain access to company systems.

Human Error

Despite technological advancements, human error remains one of the leading causes of data breaches. Individuals can unknowingly expose sensitive data to hackers by clicking on a malicious link or falling victim to social engineering tactics. This is especially true for employees who need to be properly trained on cybersecurity protocols or do not need to understand the potential consequences of their actions.

Organizations must invest in employee training and create a culture of security awareness to prevent human error from becoming a significant risk factor in data breaches.

Increased Value Of Stolen Data

As technology continues to advance, the value of stolen data has also increased. Personal information such as credit card details, medical records, and social security numbers can now be sold on the dark web for significant amounts of money. This has made cybercrime a lucrative business for hackers, increasing data breaches.

Furthermore, with the rise of ransomware attacks, where hackers demand a ransom to return stolen data, it has become even more profitable for cybercriminals to target organizations and individuals.

Lack Of Reporting And Transparency

Many data breaches go unreported or are not disclosed by the affected organizations. This lack of reporting and transparency can give a false perception that there is no increase in data breaches when, in reality, they are happening at an alarming rate.

Some organizations may choose not to report data breaches due to the potential damage it can cause to their reputation. However, more transparency is needed to ensure efforts to combat cybercrime and protect individuals and organizations from future attacks.

Hard Drive Destruction And Its Neglect

An often overlooked aspect of cybersecurity is the physical destruction of hard drives. When computers or servers are retired, their hard drives often contain sensitive information that can be recovered unless properly destroyed. Deleting files or formatting the drive does not guarantee the data is irrecoverable. Skilled hackers and data miners have the tools and knowledge to retrieve information from not physically destroyed drives.

The lack of a comprehensive hard drive destruction strategy poses a significant security risk. Many organizations need to pay more attention to this crucial step in the data lifecycle, either unaware of the risks or the perceived inconvenience and cost associated with physically destroying hard drives. This negligence can lead to data breaches even after the digital device is no longer in use or within the organization’s premises.

Organizations must incorporate hard drive destruction into their data protection protocols for effective data security. This should involve physically destroying the drive to a point where data recovery is impossible. One of the best methods is shredding. Ensuring that all retired data storage devices undergo secure and thorough destruction mitigates the risk of sensitive data falling into the wrong hands, thereby closing another loophole in an organization’s cybersecurity defenses.

Growing Threat Against Small Businesses

Small businesses receive the highest rate of targeted malicious emails, with one in every 323 emails being a direct threat. This alarming statistic underscores the vulnerability of small enterprises in the digital world. Often operating with limited resources, these businesses may need more comprehensive cybersecurity measures that larger corporations have in place. This makes them prime targets for cybercriminals looking to exploit any weakness. The high rate of targeted attacks highlights the urgent need for small businesses to prioritize hard drive destruction, employee training, and implementing proper security protocols to protect their sensitive data.

Conclusion

In conclusion, the rise in data breaches can be attributed to technological advancements, lack of proper security measures, human error, and the increasing value of stolen data. Organizations and individuals must continuously improve their security protocols to protect against attacks. This includes investing in proper hard drive destruction methods. With A1 DATASHRED’s secure shredding services, organizations can ensure that their sensitive data is permanently destroyed, mitigating the risk of a data breach. Together, we can work towards a more secure digital world. Contact A1 DATASHRED today for all your data destruction needs.

June 12, 2024