Hungry Hackers – Corporate Data Becoming More Savory

Hackers are always chomping at the bit to gain valuable information for a variety of reasons. Some do it for economic purposes, others for a political cause and then there are white-hat hackers that help companies and organizations protect their internal systems.

What remains constant throughout most hacking ventures is the want, and sometimes need, to go after valuable data. Consumers, corporations and even political organizations aren’t off limits. Hackers may be focusing their sights on the valuable corporate data, including company trade secrets, as their next lucrative venture.

According the Online Trust Alliance’s “2017 Cyber Incident & Breach Response Guide,” confirmed organizational “cyber incidents” (approximately 82,000 incidents)—which includes ransomware, distrusted denial of services (DDoS) and other business focused cybersecurity disruptions, in addition to data breaches and cyberattacks against companies, political and other organizations—account for more than 20 times “that of the estimated number of consumer data breaches reported for 2016.”

The OTA reached its conclusions by tracking and analyzing data from various private and public sector organizations including the Federal Bureau of Investigations, Microsoft Corp., Interpol, the U.S. Secret Service and Symantec Corp., among others.

The risk of a corporate or organizational cybersecurity incident and the ensuing fallout was highlighted by the Yahoo! Inc. data breachwhich exposed over a billion user accounts. The breach called into question a pending $4.8 billion merger between Yahoo and Verizon Communications Corp., but Yahoo told U.S. regulators that it hopes to complete the merger by June. The data breach has also led to a fury of federal and state litigation and has also caught the ire of U.S. and European Union regulators.

Companies and organizations can feel the impact of the data breach on their profit-margins and reputations, the OTA said in the report. Those at a higher risk for cyberattacks need to “plan ahead and secure technologies, processes and procedures to help prevent, detect, remediate and respond to the impact of a cyber incident.”

Source: Hungry Hackers – Corporate Data Becoming More Savory