Data breaches are hazards that can severely compromise business information systems, depending on the criticality and confidentiality of the information that has been leaked. These hazards are created when system vulnerabilities are exposed, either accidentally or on purpose. Cyber crimes are the most common threat source of data breaches. The data that has been illegally accessed can be shared, transmitted and manipulated, thereby jeopardizing an organization’s commercial interests and objectives.
The types of information that cyber criminals can access through data breaches include:
- Personal Details
- Financial Numbers
- Bank Details of Personnel such as credit card or debit card information
- Tax related information
- Trade Secrets
- Corporate Strategy
- Source Code for Proprietary Software
- Client Information
- Patented Material
Common Threat Sources for Data Breaches
The following are the four most common ways in which a data breach can occur.
Accidents Caused Internally – Employees often view information on their colleagues’ systems. While this is not an incidence of data compromise in the conventional sense, problems can arise when employees without the necessary authorization unassumingly gain access to sensitive confidential information.
Internal Employee Intent on Malice – Handling classified information implies responsibility and accountability, both at a corporate as well as an individual level. There is always the possibility that employees with access rights and privileges can misuse highly confidential data to serve personal ends. Such data leaks can have highly impactful repercussions on an enterprise’s business, causing in many cases irreparable damage.
Theft and Lost Property – Sensitive data is often placed on devices such as portable hard drives and laptops that can be misplaced due to negligence or carelessness. Employees who are intent on malice can also intentionally smuggle such devices out of office premises.
Cyber criminals – Hackers with extensive expertise in the field can break into even the most fortified networks.
Diagnosing Symptoms of a Data Breach
Identifying the source of the problem well in advance is not always easy. Cyber criminals or even internal employees can take advantage of system vulnerabilities in different ways. The following are some of the most common early signs that an enterprise’s system security might be under threat:
- Unidentified IP addresses on wireless networks whose credentials can’t be verified
- Repeated login failures while trying to access information on network traffic, usage and other usage conditions or verifying a user’s identity
- Suspicious activity on the network during odd working hours
- System restarting and shutting down even when not required
- Configurations that cause mechanical and unauthorized deployments of services and applications
Data Breach Prevention
The following are some of the common preventive steps enterprises can take to mitigate data breaches, both in terms of frequency of occurrence as well as intensity of impact.
Data location and format – Organizations must begin by taking a process driven approach to data storage. All information types should be segregated based on mission criticality and mapped to the most appropriate storage equipment.
The format in which data files are stored is also an important factor to consider. Enterprises decide on the most appropriate option based on parameters such as the speed for disk reading, data processing and visualization; usability and scalability.
Knowledge Transfer – Conducting training programs and knowledge transfer sessions at regular intervals are an effective manner of familiarizing employees with current industry trends, best practices and also gaining hands on exposure to effectively managing systems security.
Data breach drills – Security capabilities should be periodically tested through exercise drills and by simulating possible scenarios. This allows organizations to evaluate the feasibility of their response strategies in the event of a business disruption.
External audits – Organizations can also benefit immensely from an outsider’s perspective on their approach to protecting their systems, applications and data. Experienced third party agencies can evaluate an organization’s existing security framework and facilitate an in-depth evaluation of vulnerabilities and areas for improvement.
Updating Software – Incorporating software updates and patches are essential as large programs can often fall prey to vulnerability and stability issues. Besides protecting against harmful malware, system intrusion and other security issues, software updates also optimize system performance through enhancements, new feature additions and functionality improvements.
Encryption – Information can be kept secure through encryption regardless of whether it is in transit through the network or idle. Additional benefits include maintaining data integrity, protecting privacy, adhering to compliance norms and facilitating compatibility across multiple devices.
Multiple factor authentication – Access to mission critical data and systems can be made more stringent through a combination of various techniques to verify user credentials such as password, security token, bio-metrics, PIN, OTP and so on.
Visibility – A granular level of control over the entire network infrastructure becomes possible when enterprises can take a panoramic view of all their data traffic from a centralized dashboard. Besides reducing network vulnerabilities, additional benefits include increased operational efficiency, reduced costs and better resource utilization.
Restricting Access to Sensitive Information – Employee access to systems and data should be granted based on factors such as relevance, department, mission criticality and more. These protocols for accessing information should be instituted through formally drafted organizational policies.
Response Strategies
Problem Eradication – Once the source of the problem has been identified, the appropriate response should be deployed to resolve the issue
Speed – Enterprises must put in place a mechanism that can be deployed the moment a network compromise incident is detected. The entire system architecture needs to be designed in such a manner that when a business disruption occurs, the affected system or group of systems can be quarantined so that the security hazard can be effectively contained without spreading to more segments on the network.
Assessing Data Loss – Once a data breach has occurred, IT teams must identify precisely what information has been lost and the corresponding impact the loss will have on operations.
Damage Assessment – Organizations must accurately take stock of the situation and quantify in finite terms the impact on assets, resources, programs, systems, applications, hardware and equipment.
Alerts, Warnings and Notifications – Impacted teams and departments should be informed without delay. Organizations must also proactively reach a consensus on crisis time communication strategies that facilitate information sharing, coordination and a collective response to the situation at hand.
Other strategies include –
- Contacting official agencies if mandated by law
- Design a strategy for dealing with the queries and concerns of interest groups such as:
- Stakeholders
- Clients
- Third Party Business Associates
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