Yes, it is important and critical to safeguard your IT security. Business assets reside in the form of data and are rendered vulnerable. Data breaches are happening just like that and organizations are rendered helpless.
In the recent UniCredit, the bank and financial services organization revealed that the data breach had close to 3 million records that were exposed, revealing the names, telephone numbers, email addresses, and cities where clients were registered.
Such breaches are said to have an impact over social media, rather than any real serious banking transaction, however, it is paramount that a breach had occurred. It is interesting to note, that the UniCredit had made substantial investments in upgrading their IT security systems, yet the breach took place.
In Risk-Based Security research, 2019 Midyear QuickView Data Breach Report, states the first six months of 2019, had seen more than 3,800 publicly disclosed breaches exposing 4.1 billion compromised records.
Legacy of breaches
It is important to read along, that similar breaches occurred in July 2017 reason was data theft due to third party provider accessing data without authorization, and in the latter part of 2016 as well.
Then why breaches?
Shockingly, such breaches are not happening to poor budgets or lack of security awareness. It can be identified as:
- Lack of proper security training
- Un-authorized access to systems /services
- Exposure of sensitive data
- Insider actions – both malicious and accidental
In such contexts, one cannot blame the solution provider, it is the organization that must ensure such breaches do not occur, bring more security process during selecting a vendor and decide on what type and at what level information can be accessed. Greater hours of security training programs must be pushed for.