We too Can Choose our Targets - Say Cyber criminals

Hackers Selective about their Targets

• Just like businesses that select a specific market in order to maximize their brand name, hackers are also becoming increasingly choosy selective about their targets.

• This is a major shift from their traditional generic approach of reaching out to larger number of people.

• As per the intelligence report, hackers have found that by being choosy with their attacks the risk of being caught is reduced significantly and their chances of being successful go up greatly.

• A data breach is a serious problem for any business. The exposure of customer information can lead to a massive loss of a user’s trust in the company.

• Further, the company could find itself transgressing data privacy laws and even end up receiving a lawsuit from its users.

• Annually, cybercrime costs the world economy $570 billion and the U.S. economy $100 billion. This makes the United States the hardest hit of any nation, according to statistics.

• Over the years, the number of identities stolen reduced. But there is nothing to rejoice because it does not mean hackers have all the sudden given up. It only implies a more sinister plan.

• The reason behind this drastic drop in the number of identities stolen only indicate that cyber criminals are no longer pursuing larger data breaches.

• While the overall number of hacks were nearly the same, the number of records hacked in 2011 was much higher.

• This clearly suggests hackers are interested in pulling smaller data breaches containing more important data.

• According to recent statistics, the number of identities compromised in each data breach is going up every year. The consequences of a security breach are:

• Around 29 percent of the businesses lose their brand name and reputation

• About 21 percent lose productivity.

• Nineteen percent of firms end up losing revenue, and

• Ten percent lose technical support.

Top Ten Data Types Breached by Hackers

• Real name

• Birth dates

• Social Security Number (SSN)

• Residential address

• Medical records

• Mobile numbers

• Financial details

• Mail address

• Usernames and passwords

• Insurance details

Important Data Breach Statistics

• Thirty seven percent of all data breaches occur at financial organizations.

• Restaurants and retail business follow second at 24 percent.

• Cyber criminals stole personal data of more than 50 million people in 2013 including names, mail ids, and encrypted passwords.

• On an average, a single, successful hack costs $ 300K. Corporates are attacked at an average of two million times a week.

• Healthcare industry experiences the most expensive breaches at $230K per record compromised (an overall percentage of 42.4).

• The financial environment is second at $215 ( an overall percentage of 6.2) and pharmaceutical services is at third at $207.

• The government and military suffer a breach percentage of 11.6, while education industry accounts for 7.8 percent of data breaches.

• About two-thirds of the breaches are a result of human errors and system glitches, while hacks average around $150 per stolen record.

• The United States suffers 50 percent of the global data breaches, with the United Kingdom at 8 percent, and India at 3 percent.

• Since January 2005, around 600 million records containing important information from 4,000 data breaches were stolen.

• Seventy-five percent of the stolen credentials are used for network intrusion, while 50 percent are used for hacking.

• Seventy-two percent of the data breaches are caused by outside attackers, while insiders are involved only in 25 percent of breach incidents.

• Australia accounts for the most number of stolen records at 34,000, while the United States stands at 29,000.

• Australia and France have the highest customer churn rate as a result of security breaches.

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