Week1 Data Security Breach

BLOG: Learning Outcome 1  

Data Security breach is a negative action of losing, stealing, encrypting, capturing, erasing made by group of people or individual person who use special tools, knowledge, social engineering to capture, steal or change data on any other ways with the idea of making money, show some kind of protest again something, show their skills to somebody or just for fun.

The consequences of a data leak can be different, for example, loss of money or blackmail, but if we consider the loss of data for the client and business, it becomes obvious that they often lose completely different things.  

 

Company losses due to data leak:
1)Financial losses - the company needs to compensate for the loss, pay fines, spend money on the courts, finance the search and investigation and fix the problem, and if the work has to be stopped due to a data leak, it will be more difficult for the company to make money

2)The company will lose the trust and reputation of other companies and customers.

3)Disclosure of trade secrets, such as patents or plans for the near future or years, can have a very negative impact on the company and its future. 

 

Customer losses due to data leakage:
1)The financial damage to customers can be much more noticeable than for companies, and people can have their bank data stolen and then used in fraudulent schemes.

2)Disclosure of personal data, such as first names, last names, phone numbers, emails, photos and various other data that depend on what kind of company was hacked, can also leak medical records to the Internet, which was the case with the last huge data leak on American citizens when data on more than half of the US population appeared on pirated(TOR/onion) forums.

2.1)The consequences of disclosing personal information can be different, for example, people may be blackmailed, phishing attacks may be launched, and for hackers, the disclosure of personal data will simplify subsequent hacks of other services where a person is registered if he does not change passwords.

3)It can also cause stress, fear, and maybe even death, because after hacking the database of the service to search for meetings for married people, and subsequently disclosing information about users of this service, there have been cases of suicide. Although my personal opinion is that cheating is bad and unacceptable, but if leaking such data to the network, I personally consider it unacceptable, especially if it leads to the death of people(suicide).

 

These are the most important consequences of data leaks for companies and customers.

Stanislav Samokysh EC2134771