- Companies are amassing vast amounts of digital data nowadays. From customer information to proprietary business data, the sheer volume of digital assets presents a lucrative target for cybercriminals seeking to exploit vulnerabilities and gain unauthorised access.
- While modern businesses rely on complex IT infrastructure comprising interconnected systems, applications, and devices, cybercriminals are continually evolving their tactics and techniques to bypass security defenses and infiltrate company networks.
- Though data breaches seem to be a serious and complicated annoyance, overall, they are often the result of a combination of technical vulnerabilities, human error, insider threats, and inadequate security practices, highlighting the importance of comprehensive cybersecurity strategies and proactive risk mitigation efforts.
With the widespread adoption of digital technologies and the shift towards online operations, data breaches are a growing concern. We are already aware of the destructive impact they may have on an enterprise and its customers through some notable cases: Royal Mail was hit by a ransomware attack in January result international shipments of parcels and letters to a standstill; Latitude Financial, an Australian non-bank lender, was hit by a cyberattack that is suspected to have compromised the information of 8 million people, etc. There are several possible causes for data breaches that may help you understand the complex crimes.
Also read: Sony Discloses Cybersecurity Breach Exposing Employee Data
Inevitable objective factors
1. Proliferation of digital assets
with the widespread adoption of digital technologies and the shift towards online operations, companies are amassing vast amounts of digital data. From customer information to proprietary business data, the sheer volume of digital assets presents a lucrative target for cybercriminals seeking to exploit vulnerabilities and gain unauthorised access.
2.Complexity of IT infrastructure
Modern businesses rely on complex IT infrastructure comprising interconnected systems, applications, and devices. The complexity of these IT environments introduces multiple points of entry for cyber attackers to exploit vulnerabilities and gain access to sensitive data. Additionally, the proliferation of cloud services and third-party vendors further complicates the security landscape, increasing the risk of data breaches through supply chain attacks and misconfigurations.
Also read: Inside the world of data centre cabling
Reasons for relative competence
1.Sophistication of cyberattacks
Cybercriminals are continually evolving their tactics and techniques to bypass security defenses and infiltrate company networks. Advanced hacking methods, such as phishing scams, ransomware attacks, and social engineering tactics, are becoming increasingly sophisticated, making it challenging for organisations to detect and thwart cyber threats effectively.
2.Human error and insider threats
Despite the implementation of robust cybersecurity measures, human error remains a leading cause of data breaches within organisations. Employees may inadvertently click on malicious links, fall victim to phishing attacks, or mishandle sensitive data, inadvertently exposing company information to unauthorised parties. Moreover, insider threats, whether malicious or unintentional, pose a significant risk to data security, highlighting the importance of employee training and access controls.
3.Regulatory compliance challenges
The regulatory landscape governing data protection and privacy has become increasingly stringent, with laws such as the General Data Protection Regulation (GDPR) and the California Consumer Privacy Act (CCPA) imposing strict requirements on organisations handling personal data. Non-compliance with these regulations can result in severe financial penalties and reputational damage, incentivising cybercriminals to target companies with lax security practices.
