Never mind your credit card details, let’s worry about cybercriminals stealing your identity.
The latest Breach Level Index released by Gemalto has revealed that identity theft was the primary target of hackers in 2015, with stolen personal information accounting for 53% of all data breaches.
It’s a worry, you see, because while your credit card has inbuilt security defences and merchant protection mechanisms, your valuable personal information is probably stored in multiple locations, across a number of interfaces, in a variety of forms, exposing it to substantial risk of theft.
Not only is the massive volume of personal information that is available to be stolen a cause for alarm, but what cybercriminals can potentially do with that information is the major concern.
So who is to blame? Well, malicious outsiders were the leading source of data breaches in 2015, accounting for 58%, accidental loss of data was next and then came malicious insiders, who accounted for 14% of all data breaches.
Clearly, companies need to recognise that today’s cyber environment demands robust security strategies that not only protect networks from external attacks and accidental data loss, but also keep an eye on insiders too.
To secure against a data breach, Gemalto recommends that organisations commit to the encryption of all sensitive information, secure storage and management of data and encryption keys, and controlled access and authentication of users.
Access the Gemalto 2015 Breach Level Index Report here.