{"id":4979,"date":"2022-07-25T07:26:04","date_gmt":"2022-07-25T07:26:04","guid":{"rendered":"https:\/\/news969.com\/?p=4979"},"modified":"2023-12-12T06:34:35","modified_gmt":"2023-12-12T06:34:35","slug":"most-expensive-types-of-data-breaches","status":"publish","type":"post","link":"https:\/\/news969.com\/most-expensive-types-of-data-breaches\/","title":{"rendered":"Most Expensive Types of Data Breaches"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">Many challenges can make your company\u2019s pocket hurt. The number of cybercrimes grows annually. IBM\u2019s 2021 Security Analysis found that the average total cost of a data breach increased by nearly 10%. Its projected cybercrime costs can reach $10.5 trillion annually by 2025, highlighting a growing need for privacy-enhancing and security-enforcing solutions for data-intensive sectors.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">With that said, let\u2019s consider the most expensive types of data breaches. Learn from the unfortunate experience of other companies to better protect your enterprise while you leverage data to catalyze innovation.\u00a0<\/span><\/p>\n<p><b>Phishing<\/b><\/p>\n<p><span style=\"font-weight: 400;\">Phishing is one of the most cost-intensive for organizations facing a data breach. The most common types of phishing attacks include:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Deceptive phishing is when cybercriminals send large-batch emails and impersonate a legitimate company.\u00a0<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The Spear phishing approach involves attacking a specific individual organization. By sending personalized emails using details relevant only to the targeted party.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The whaling method focuses specifically on C-suite members of a company by gaining access to even more sensitive and valuable information.<\/span><\/li>\n<\/ul>\n<p><b>Business Email Compromise (BEC)\u00a0<\/b><\/p>\n<p><span style=\"font-weight: 400;\">BEC exploits email systems by targeting lower-level employees at an organization. By pretending to be an employee in another department or a C-suite executive, attackers can request sensitive information about a company or its clients.\u00a0<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Attackers can use slight variations on legitimate email addresses, such as john.doe@acmelndustries.com instead of john.doe@acmeindustries.com.\u00a0<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">They can send spear-phishing emails that appear to be from a trusted sender in an attempt to access company accounts, calendars, or sensitive data.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">They can also use malware to infiltrate company networks.<\/span><\/li>\n<\/ul>\n<p><b>Third-Party Software Vulnerabilities\u00a0<\/b><\/p>\n<p><span style=\"font-weight: 400;\">Third parties can help you improve key business processes. However, they aren\u2019t under your company\u2019s direct jurisdiction, limiting your access to critical information regarding their security policies or risk management practices. Such software might leave vulnerabilities that can be exploited by hackers or malicious programs, increasing the risk that your organization fronts the cost in the event of a data breach.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Different companies share their recommendations as to how to improve data security. For example, <\/span><span style=\"font-weight: 400;\">ACE Data Group<\/span><span style=\"font-weight: 400;\"> recommends you take the following steps to improve your\u00a0 data security:\u00a0<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Keep software and hardware up-to-date<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Use a secure file-sharing solution<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Use anti-virus and anti-malware<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Check links before you click<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Use strong passwords<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Enable 2-Factor Authentication<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Don\u2019t store important information in non-secure places<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Always backup your data<\/span><\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Many challenges can make your company\u2019s pocket hurt. The number of cybercrimes grows annually. IBM\u2019s 2021 Security Analysis found that the average total cost of a data breach increased by nearly 10%. Its projected cybercrime costs can reach $10.5 trillion annually by 2025, highlighting a growing need for privacy-enhancing and security-enforcing solutions for data-intensive sectors. [&hellip;]<\/p>\n","protected":false},"author":21,"featured_media":4984,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.5 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Most Expensive Types of Data Breaches - Latest Technology News - Gaming &amp; PC Tech Magazine- News969<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/news969.com\/most-expensive-types-of-data-breaches\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Most Expensive Types of Data Breaches - Latest Technology News - Gaming &amp; PC Tech Magazine- News969\" \/>\n<meta property=\"og:description\" content=\"Many challenges can make your company\u2019s pocket hurt. The number of cybercrimes grows annually. IBM\u2019s 2021 Security Analysis found that the average total cost of a data breach increased by nearly 10%. Its projected cybercrime costs can reach $10.5 trillion annually by 2025, highlighting a growing need for privacy-enhancing and security-enforcing solutions for data-intensive sectors. 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