2017 Data Breach Industry Forecast

The data breach landscape has been continuously evolving as have counter threat policies. It doesn’t take long for cyber criminals to bypass updated security measures. However, organizations that fear digital security have always tried to ensure they are protected. The only way to do so is to identify the early signs of data breach and to prepare for new inevitable threats. Below is a graphical representation of data breach incidents by type and source for the year 2016.

data breach 2016

Data Breach Statistics – 2016

In 2017, these 5 data breach trends are going to become the focus of organizations worldwide:

1. Aftershock password breaches

While we witnessed several cases of aftershock password breaches in 2016, they are going to get more commonplace in 2017. Like earthquakes are always followed by smaller seismic shocks, aftershock data breaches revolve around the practice of people using old passwords time and again. Attackers therefore sell these old expired passwords on the dark web and continue to monitor companies for new logins. There have been many instances of such unauthorized log-ins in the recent past but the most significant was the breach of more than 1 billion Yahoo accounts in 2016.

The solution is to use two-factor authentication that companies continuously account for incidence of breaches in their response plans.

2. The evolution of Nation-State cyber attacks

According to industry experts, the cyber conflicts between nations and states will evolve from just being espionage to fully fledged war. In 2015, the US intelligence made news for its collection of information of internet users. By the end of 2017, we may hear more shocking news. Cyber attacks have been used in the recent US presidential elections as a means to retaliate or gain a political advantage.In the future it will put the common man and businesses in its crosshairs.

The feasible ways to counter this threat is to participate in Information Sharing and Analysis Center (ISAC) and the national defense organization. You may also want to get a protective insurance cover to take care of damage.

3. Healthcare is the new target

Personal medical information has always been a top asset among data criminals. In 2015, we already witnessed a large scale attack focused on health insurance data but by the end of 2017, we can expect this to spread to hospital networks.

It is necessary that healthcare institutions of all size and capacities review their digital security and also invest in security training for employees.

4. Focus on payment gateways

Despite the introduction of EVM chips in the US in 2016, only about 49% of merchants are equipped to accept EVM based transactions. This uneven adoption of technology will only mean that data criminals have a huge widow of opportunity. Criminals have been using skimmers for many years to copy credit card information during self-checkout in the retail space, adding the opportunity.

Faster EVM adoption is key to reducing the risk.

5. International Data Breaches

Once the General Data Protection Regulation (GDPR) goes into effect, we will certainly be seeing more international cybercrimes. International consumers are at threat here as 42% of global companies haven’t yet taken steps to manage international data breach concerns.

The faster organizations comply with the new rules under the breach bills, the safer it will be for their consumers.

Apart from this, cyber criminals are also using newer tools for their attacks. There are already concerns about them using augmented and virtual reality as a tool for data theft. Overall, it is always safer to be prepared and make other’s concerns yours.

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