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Report 2008. Electronic Breaches Top All Records
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Last 6 months were full of news on all kind of frauds
online. InternetRetailer.com has published an interesting
article. So, according to the site 2008 saw more electronic
records breaches than previous four years combined.
More electronic records were breached in 2008 than the previous four years
combined, fueled by a targeting of the financial services industry, including
credit card transactions with retailers, and a strong involvement of organized
crime, according to the “2009 Verizon Business Data Breach Investigations
Report.” What’s more, a massive 81% of affected organizations subject to
the Payment Card Industry Data Security Standard had been found
noncompliant prior to being breached.
The second annual study is based on data analyzed from Verizon Business’
caseload comprising 285 million compromised records from 90 confirmed
breaches. 31% of the breaches were in retail, and 93% of the compromised
records fell into the category of financial services, which includes credit card
transactions with retailers.
The study revealed that companies fell victim to some of the largest
cybercrimes ever during 2008, with 90% of these breaches involving groups
identified by law enforcement as engaged in organized crime.
Nearly nine out of 10 breaches were considered avoidable if security basics
had been followed, Verizon Business says. Most of the breaches
investigated did not require difficult or expensive preventive controls:
Mistakes and oversight failures hindered security efforts more than a lack of
resources at the time of a breach, the company says.
“The compromise of sensitive information increased dramatically in 2008,
and it’s past time to be vigilant about enterprise security,” says Peter Tippett,
vice president of research and intelligence at Verizon Business Security
Solutions. “This report should serve as another wakeup call that good
security and a proactive approach are paramount to running a business in
this day and age—particularly since the economic crisis is likely to trigger a
further increase in criminal activity.”
The study also found that:
• Most breaches resulted from a combination of events rather than a single
action. 64% of breaches were attributed to hackers who used a combination
of methods. In most successful breaches, the attacker exploited some
mistake committed by the victim, hacked into the network and installed
malware on a system to collect data.
• In 69% of cases, the breach was discovered by third parties. The ability
to detect a data breach when it occurs remains a huge stumbling block for
most organizations. Whether the deficiency lies in technology or process, the
result is the same.
• Nearly all records compromised in 2008 were from online assets. Despite
widespread concern over desktops, mobile devices and portable media, 99%
of all breached records were compromised from servers and applications.
• Roughly 20% of 2008 cases involved more than one breach. Multiple
distinct entities or locations were individually compromised as part of a single
case, and half of the breaches consisted of interrelated incidents often
Home
Report: Fraud level of 2008 hit all the records
April 24, 2009 10:41am | Articles | Fraud |
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• Tippett says that companies like Verizon Business, which aid other
companies—including retailers—in protecting electronic information, are
being constantly challenged.
“Our task is not getting any easier; the sum total of information in the world
grows continually and permeates everything we do and everywhere we go,”
he adds. “While the majority of attacks remain rather mundane, the criminals
are adapting to our current protection strategies and inventing new ways to
attain the data they value.”
Source http://www.internetretailer.com/dailyNews.asp?id=30196
Tags keywords: data breach | data security | online fraud | online hack | payment card |
Verizon Business
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