Understanding data breach: What happens to stolen data?

Image source: threatpost.com

 Data breach has made headlines several times in the past few years. It occurs when cybercriminals successfully infiltrate the data centers of companies and steal a data in the bulk, usually hundreds of thousands to millions of entries in a database. Stolen data usually comes in the form of user data such as names, birthdates, email addresses, passwords, phone numbers, and even financial information like insurance card numbers and credit card numbers. What happens to these stolen data when cybercriminals get their hands on them?

The first move of a cybercriminal after a successful data heist is to sell the information in the deep web. The more information embedded in these personal accounts, the higher the price. From here, cybercriminals can buy these accounts to do their dirty work.

Image source: pcmag.com

One of the most harmful effects of data breach is identity, bank, or insurance fraud. Cybercriminals can use the stolen information to access banks, use a person’s insurance, or generate fake identification cards. To make matters worse, the victim of stolen identity or credentials remains unaware of the fraud until it’s too late. Some cybercriminals can conjure fake identities complete with birth certificates, drivers license, and insurance documentation.

Another way cybercriminals use these information is by sending ransomware or malware to the victims through e-mail messages. They can also pretend to be e-mail messages from banks containing links that would require users to input their credentials in a fake website.

Founded in 2008, SiteLock is a global leader in business website security solutions, serving over 8 million customers worldwide. It is the only web security solutions firm that offers complete, cloud-based website protection and serves e-commerce enterprises, financial service companies, legal offices, and web developers and designers. Know more about cybersecurity and the company by visiting their official website.

A look back at the biggest hacks of the past years

SiteLock has always emphasized the importance of being both vigilant and informed in the never-ending struggle to keep websites safe against hackers. As both safety protocols and hacking methods evolve to become more effective and sophisticated, what gives the good guys the upper hand is the attitude of people towards cybersecurity.

For instance, over the past few years, hackers have gone through some of the toughest websites to bring down the companies behind them.

Image source: usatoday.com

Of all the high-profile attacks, two of the most disturbing attacks happened on the biggest social media site today – Facebook. In April 2018, the website was infiltrated by an app that illegally stole information on 87 million users. Two months later, another app called Nametests.com exposed to the public information of over 120 million Facebook users.

Apps have also been as much of a target as websites. In March 2018, hackers got through to sporting apparel giant. Under Armour, through its famed app, MyFitnessPal. Over 150 million user emails, usernames, and passwords were compromised.

Image source: slate.com

Other big name companies that were hit were Saks Fifth Avenue and Lord & Taylor as hackers from JokerStash stole (and subsequently tried to sell) credit and debit cards from these high-end stores’ websites.

SiteLock also mentioned the Ticketfly scandal by which a hacker saw a flaw in the ticket-seller company’s website. Ticketfly ignored the warning, and the hacker exposed the information of its employees.

A global leader in website security solutions, SiteLock offers cloud-based website protection. For more on SiteLock, visit this website.