A number of large data breaches have been making headlines recently, but following the breach, what happens to the data? We put together a short video to help you understand what happens to data after it is breached and how your organization can better protect data and prove compliance with data protection regulations.
Following the Target breach, credit card data was sold for between $27 to $45 per record. Consider that 40 million card numbers were stolen and you can see there is big profit to be made on the black market. Credit cards, social security numbers, and medical records are hot commodities on the black market. A single medical identity can fetch as much as $500 on the black market, where healthcare records in general go for at least 10 times as much as credit card data. It’s no wonder that healthcare organizations, in particular, are facing an increased number of data breaches.
Sensitive corporate information or intellectual property, such as emails, bank information or patents, are the criminal’s jackpot, fetching a huge payday. The loss of this data can severely impact an organization’s long-term viability and can lead to bankruptcy. Damage potential is huge, including fraud, customer attrition, lawsuits, shareholder sell-offs and regulatory investigations and penalties.
Right now, the cyber black market is worth more than the global illegal drug trade. That’s a sobering thought, don’t you think?
What are you doing to ensure your sensitive data is protected and doesn’t fall into the hands of cybercriminals?
Absolute Data & Device Security (DDS) provides foundational support for all activities related to Governance, Risk Management, and Compliance (GRC) for the endpoint. Watch our short demo on how you can protect your data and prove compliance with data protection regulations.