04.29.16

Publication,

A Must-Read Overview on How Data Breaches Occur and Who They Target

PRACTICE GROUPS

Any business concerned with cyber-security – which should be every business, regardless of size or industry – should pay attention to the fascinating and helpful information about data breaches in Verizon Enterprise Solutions’ just-released 2016 Data Breach Investigations Report. The Report details the real and evolving threat of cyber-attack and data breach, including:

  • Human error is increasingly the cause of data breaches.  For example, Verizon’s study found that more than 1 in 10 people tested fell for phishing schemes.
  • Attacks are swift and data loss quick.  It took hackers just minutes (or less) to compromise a network in 93% of cases studied.  In over 98% of cases studied, it took hackers only days to extract sensitive data.
  • Detection is slow.  In 83% percent of cases analyzed, it took targets weeks or more to discover the breach.
  • Hackers are smart and their methods are constantly evolving, making it difficult for companies to keep up with the threats posed.  Increased use of phishing and sophisticated Point-of-Sale attacks are growing threats.
  • The type of attack varies by industry.  Web app attacks targeted the financial, information and retail sectors, while the public sector, information and manufacturing companies are the top targets for cyber-espionage.  Data loss due to unintentional error was highest in the public sector, information and healthcare sectors.

Our Privacy and Data Security Group can help clients address these risks, as well as respond properly if a breach occurs. For further information regarding our services, including links to additional resources, a summary of data breach notification laws by state, and other news on these issues issue, please visit our Privacy and Data Security page or contact us at (206) 624-3600.