Penetrating a computer network can expose a company's strengths and liabilities. Online hackers would do anything to get hold of this data. Here is how to avoid such attacks.
Effective and reliable security is vital for any business's operations. It reduces the risks to the company's assets, infrastructure, and other expenses. However, recent advances in technology have made it possible for scammers to penetrate through computer networks quickly, leaving organizations vulnerable.
Cyber-Forensics.net provides fund recovery service for online scam victims, reported receiving thousands of consumer complaints regarding the business data breach.
Account recovery specialist Peter Thompson, working at the firm, says, "This is one of the kinds of ransomware attacks where stolen data can be used to launch phishing attacks, demanding extortion money from firms." But unlike phishing attacks, a data breach puts more than just the financial and personal information on the line.
What Kind of Data Scammers/Hackers Usually Target?
Any form of security hack or scam in the corporate world is primarily directed to derive the following information:
- Personal Identification Number: Such data can consist of information like employee social security numbers, contact information, education, birth dates, bank account details, and other personal information.
- Financial Information: This data consists of credit card numbers, expiration dates, investment details, etc. Chief analyst Timothy Benson working at cyber-forensics.net, who also specializes in fund recovery, thinks, "in recent times; companies worldwide have felt unprecedented economic pressure resulting from increasing data breach."
- Health Information: Fraudsters can apply for fake assistance programs being run under government schemes using data like company employees' health conditions, prescription drugs, treatments, and medical records.
- Intellectual Property: This type of data includes product prototypes, manuals, specifications, scientific formulas used in product making, marketing symbols, texts, software, and other material that the businesses have developed themselves.
- Competitor Information: Keeping a close eye on the competitive market can offer an advantage over the brands dealing with similar products in the corporate world. This involves companies engaging in extensive research, often via research experts specializing in market studies, pricing information, business plans, marketing strategies, etc.
- Legal Information: It is a set of documentation regarding regulatory bodies that operate the firm's court cases the company may be pursuing, business practices, and other regulatory rulings.
- IT Security Data: This information includes lists of usernames, passwords, security, Network structure, and encryption keys.
What Are The Possible Consequences if Company Data is Compromised?
In business experience, a data breach can be severely damaging. It can expose a company's financial health to scammers, who may take advantage of it by releasing it online or even asking for ransomware. Other possible consequences include companies facing legal lawsuits disclosing essential consumer information.
On an ethical level, a data breach can harm a firm's reputation in the market, causing consumers to lose their trust and most probably withdraw from associating with the firm. This ultimately impacts company sales, puts the company's reputation in question, and allows competitors to take over the market.
- Financial Loss: Immediate impact of any data breach usually hits hard on an organization's financial health. A study by the Ponemon Institute reveals that the cost of a data breach has increased by 12% making firms lose over £3.2m on average globally.
- Reputation Damage: In the corporate space, it's mostly the company's reputation that keeps a firm afloat. And data breaches can be devastating. Research shows that one-third of customers stop doing business with a firm that breached data.
- Operational Downtime: Businesses tend to lag after a data breach, and their operations may get disrupted. The aftermath may lead an organization to shut down its operations temporarily or permanently. Therefore, restarting from the beginning causes delays.
What Is The Possible Solution To Reduce Data Breach Risks?
While companies can keep perimeter security and other protective measures like a full backup in place in case of emergencies, the companies must, in addition, hire a data-protection-centric approach. Such action will ensure tight control over specific data and file sets.
- Encrypting the files: Encryption offers strict operation on who can access the file and how? Using the right kind of encryption like strong passwords, two-factor authentication access can put the firm in control.
- Strengthening the IT systems through regular updates: A good clean-up is usually suggested to protect IT systems and keep away unauthorized access by anyone. Additionally, pre-loaded software offers a notification facility if the system senses any impending danger concerning the data.
How Can Hiring Data Specialists Help Firms?
- Identify the source of breach: The experts in the field will help the firms identify the basis of the breach, intrusion method, data that has been compromised, and initiate security protocols.
- Address the breach type: A team of professionals will handle the emergency and proactively seek the best solution.
- Test other security: After investigating the matter, the specialists will run quick tests to prevent any data breaches in the future. They will prepare a report and make sure no vulnerabilities persist.
- Initiate Fund recovery: These fund recovery companies aim to recover money lost by victim firms and retrieve the maximum amount possible from scammers. They will save time, effort, and money.
Many positive reviews on the internet suggest Cyber-Forensics.net as a reliable name in the field. But make sure to gather complete details before hiring any fund recovery company.
About Cyber-Forensics.net
Cyber-Forensics.net is committed to providing the most accurate tracing service for victims of online scams. Cyber-Forensics.net empowers and simplifies the process of tracking down the cyber-criminals and assists in recovering the funds and creating an atmosphere for a negotiated settlement. For more information, please visit http://cyber-forensics.net/.