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Accidental data leaks by insiders mishandling information also trigger breaches frequently. Virtually every industry faces data breach risks today as sensitive information gets digitized and networked across cloud platforms. But some data types see higher breach rates than others.
Sensitive or confidential data can include customer data records, bank account numbers, SocialSecurity numbers, healthcare information, intellectual property, etc. Threat actors employ various methods and techniques to execute data breaches. Another common cause of data breaches is social engineering.
It’s shocking that a company of Yahoo’s size and long history could fall prey to such attacks and that there were no countermeasures, such as dataencryption, in place to prevent them.”. Of all records exposed across all industries, 72 percent were uncovered across hacking, phishing and skimming efforts.
The same is true for cyber criminals who are always looking for new strategies to exploit our system vulnerabilities through: Phishing attacks Malware Distributed denial-of-service (DDoS) attacks A cyber attack on financial institutions is usually catastrophic, with the IMF quoting that companies lose over $100 billion a year. Stay informed.
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