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Breach Report: staying alert in the face of cyber dark ages
Breach Report: staying alert in the face of cyber dark ages

BriefingWire.com, 5/22/2020 - The cyber landscape is getting riskier every day with rampaging hordes of hi-tech vandals. Meanwhile, both large and small organizations fail to ensure proper data security. It is necessary to use protection services available: Breach Report helps businesses monitor and protect the accounts of their employees, partners, and clients against daily privacy threats occurring on the dark web. The service offers a ready-to-use domain monitoring solution tailored to specific business needs, as well as a Business API.

Cybercrime is on its way to becoming a top threat for businesses, governments, and communities. According to the 2019 Official Annual Cybercrime Report by Cybersecurity Ventures, cyberattacks are the fastest growing crime globally, and their sophistication and damage scale are also rising - projecting to cost the world $6 trillion every year until 2021. Their growth will overshadow the damage from natural disasters, while profitability will outdo the global trade of all illegal drugs combined.

Hackers create around 300,000 new pieces of malware daily, according to McAfee data. Apart from traditionally well-equipped professionals, we witness a soaring population of so-called "script kiddies". Wannabe hackers run ready-made malware without understanding the mechanics behind it and leak breached records "for fun" and peer recognition. As these "skiddies" usually don't know the end-users of the compromised data or don't have a specific target, it makes the consequences of attacks absolutely unpredictable.

Hacking manuals are very accessible: for instance, in 2016 a 10-year-old from Helsinki successfully exposed an Instagram security bug allowing him to delete any written content on the platform. The Finnish prodigy received a $10,000 reward from Facebook as a part of the company's bug bounty program.

The "script kiddie" frenzy is leading to the exponential growth of exposed data. In 2019 Breach Level Index reported more than 14 billion data records lost or stolen. Only 4% of that data was encrypted, meaning it couldn't be used right away without criminals putting in extra work to decrypt it.

Are organizations prepared?

Cyber-attack statistics show 72% of large companies report such events. But hi-tech villains don't go only after the big fish. 43% of cyber-attacks target small businesses, according to the 2019 Verizon Data Breach Investigation Report.

Are businesses prepared for this undercover cyber warfare against them? Well, 75% of all businesses don't even have a formal cyber-attack response plan. At the same time, according to Fortune, two-thirds of businesses attacked by hackers weren't confident they could recover. The damage to infrastructure and reputation can be just too severe.

Fear and embarrassment associated with cybersecurity failures lead to the underreporting of such incidents. For example, the FBI's Internet Crime Complaint Center states that the number of reported cybercrimes in the agency's reports only represent 10 to 12% of the total number actually committed in the U.S. each year. But with leaked databases circulating freely on the dark web, the attacks just can't be brushed under the carpet.

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