November 04, 2024
This year has seen a surge in cybercriminal activity, with major data breaches capturing headlines and costing businesses millions. From healthcare giants to project management platforms, no sector is safe from these threats. But what do these breaches imply for small to midsize businesses? The same vulnerabilities exist, and ignoring them could lead to disastrous consequences.
Let's review five of the most impactful breaches of 2024 so far and explore how your business can safeguard itself.
1. National Public Data
Recently, a hacking group claimed to have stolen 2.7 billion personal records from a background checking and public data-brokering site. This data includes sensitive information such as Social Security numbers and addresses. Portions of this data have appeared on the dark web, though experts are still assessing its accuracy, as the populations of the countries listed only total about half a billion. However, it's likely that numerous Social Security numbers have been compromised.
Given the widespread impact, individuals are urged to closely monitor their financial and online identities and take immediate action. A practical measure is freezing your credit to prevent identity theft, unfreezing it when necessary for activities like applying for loans or credit cards. Check if your information was exposed here!
2. Ticketmaster
A significant data breach at Ticketmaster compromised the personal and financial information of over 560 million customers. Hackers accessed the company's database in April and May, stealing sensitive details such as names, emails, phone numbers, and payment information. This breach highlighted serious security flaws at Ticketmaster, raising consumer concerns. Many victims reported unauthorized transactions and identity theft following the incident. Additionally, this breach exacerbated the legal issues of Ticketmaster's parent company, Live Nation, which was already facing a lawsuit from the US Department of Justice for anticompetitive practices.
3. Change Healthcare
In February 2024, Change Healthcare experienced a massive ransomware attack that exposed the personal information of over 145 million individuals. This breach, one of the largest in healthcare history, compromised sensitive data, including names, addresses, Social Security numbers, and medical records. The incident had widespread effects on patients, healthcare providers, and insurance companies, prompting many in the healthcare industry to reevaluate their cybersecurity strategies to prevent future attacks.
4. AT&T
In March, AT&T suffered a data breach that compromised the personal information of approximately 73 million current and former customers. This extensive breach included sensitive data such as Social Security numbers, account details, and passcodes. The breach was linked to data from as far back as 2019, which surfaced on the dark web in March 2024. This incident is part of a series of attacks on AT&T, following a 2023 breach that affected 9 million users. In response, AT&T initiated an investigation to contain the malware while maintaining services for current customers. The breach has also exposed the company to potential class action lawsuits.
Even if your business doesn't manage millions of customers like AT&T, it can still fall prey to cyber-attacks. It's essential to protect your network by implementing strong security measures, training employees on password and phishing prevention, and maintaining an active cybersecurity strategy.
5. Dell
In May, Dell experienced a security breach when a hacker known as Menelik used a brute-force attack to infiltrate one of their resellers' client portals. This breach exposed 49 million records containing sensitive data, including customer names, email addresses, payment information, and account details. The incident raised significant concerns about Dell's cybersecurity practices, prompting the company to issue a public apology and commit to enhancing its security protocols. In response to the breach, Dell has faced increased regulatory scrutiny and may encounter legal challenges as more details about the impact emerge.
What Does This Mean For You Personally?
We have several blogs on what to do if you're affected by a data breach, but the most crucial action is to freeze your credit and monitor your bank account. Websites like www.haveIbeenpwnd.com can help you determine if your email has been exposed in a breach.
What Does This Mean For Your Business?
While these breaches affected major corporations, small to midsize businesses are not exempt from cyber threats. In fact, SMBs are increasingly targeted because they often lack the robust security measures that larger companies have. Cybercriminals are aware of this, and the stakes couldn't be higher: a single breach could cost your business thousands in downtime, lost data, and reputational damage.
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