Optus, Medibank, Woolworths… the list goes on. Many Australians have now become victim to data breach. In fact, within the first 6 months of 2022 there were 396 notifications of data breach according to The Office of the Australian Information Commissioner (OAIC).
A data breach is an unauthorised access to or disclosure of confidential information. This can include accessing, copying, or destroying data without permission. A breach can happen when hackers gain access to a company’s computer systems or when employees accidentally disclose information.
Data breaches are becoming more common because companies are collecting more data than ever before. They are also storing this data in central databases, which makes it a tempting target for hackers. In addition, many companies do not have adequate security measures in place to protect their data.
Despite the increasing frequency of data breaches, many companies do not have policies in place to deal with them. This can lead to serious consequences for the company, including loss of customer trust and damage to its reputation.
Data breaches come in all shapes and sizes. Some common types of data breaches include hacking, malware, phishing, and social engineering.
In relation to the major data breaches in the past few months, we have seen data being accessed by individuals outside of the corporation who do not have authorised access to this data. In simple terms; a hacker.
Hacking is when an unauthorised person gains access to a computer system or network. They may do this by exploiting vulnerabilities in the system or by using brute force to guess passwords. Once they have access, they can view, copy, or delete sensitive data.
Malware is malicious software that can infect a computer system and cause damage. It can be used to steal sensitive information or take control of the system.
Phishing is a type of social engineering where attackers send emails or texts that appear to be from a trusted source in order to trick people into revealing sensitive information like passwords or credit card numbers.
Organisations are increasingly becoming the victims of data breaches, but what does that mean?
For individuals, a data breach can mean the possibility of identity theft and financial loss. For organisations, it can mean damage to reputation and customers’ trust and may be subject to a fine of up to $50 million for serious or repeated data breaches.
In either case, the consequences can be long-lasting which is why it’s so important for both individuals and organisations to take steps to protect their data. This includes being aware of the risks, using strong passwords and security measures, and being careful about who has access to your data.
As the world becomes increasingly digital, data breaches are becoming more and more common. A data breach is defined as an unauthorised access or release of sensitive information. These breaches can have devastating consequences, both for the victims and for the companies involved.
There are steps that both individuals and companies can take to prevent data breaches.
For individuals, it is important to be aware of the risks associated with sharing personal information online. Be cautious about what you post on social media and only share information with trusted websites. It is also a good idea to use strong passwords and to avoid using the same password for multiple accounts.
For companies, preventing data breaches starts with having strong security measures in place. This includes things like firewalls, encryption, and access control measures. It is also important for companies to train their employees on security protocol and to keep up with the latest security trends.
Data breaches are a serious concern for businesses and individuals alike. How can you detect one?
There are several signs that may indicate a data breach has occurred. These include unusual activity on your account, such as unexpected login attempts or changes to your password; strange or unexpected charges on your credit card; and receiving strange emails or messages that you didn’t sign up for.
If you suspect that a data breach has occurred, it’s important to take action immediately. Contact your bank or credit card company to report any suspicious activity. Change your passwords and security questions and be sure to enable two-factor authentication if available. Keep an eye on your credit report for any unusual activity. If you see anything suspicious, report it to relevant organisations such as the Australian Cyber Security Centre (ACSC), Scamwatch and IDCARE.
As businesses increasingly move online, data breaches have become more common. While the details of each breach vary, they often involve sensitive information being leaked or stolen from a company’s servers.
Data breaches can have major consequences for both businesses and consumers. In addition to the financial cost of dealing with a breach, companies can also suffer from damage to their reputation. Consumers may be reluctant to do business with a company that has been breached, and their personal information could be at risk.
Despite the risks, many companies do not have adequate security measures in place to prevent data breaches. This is often due to a lack of awareness or understanding of the threat. With the increasing frequency of data breaches, it is essential for businesses to take steps to protect their data.
Relevant links:
https://www.cyber.gov.au/acsc/report
