Data leaks occur when organizations fail to implement proper cybersecurity measures, causing sensitive data and other personally identifiable information (PII) to be exposed to the public. In most cases, data leaks occur due to internal human errors, an oversight by the IT committee, or a lack of strong security practices.
Even before the pandemic, many companies had a relaxed approach to the devices employees brought to work. In fact, many businesses had BYOD (bring your own device) policies that allowed team members to work on personal laptops or cell phones. By one account, 75% of employees use their personal cell phones for work. The rise of remote work has only escalated the use of tablets, laptops, and mobile phones for professional use.
Every year, business owners grapple with the same question: how can I keep my data safe? The cost of a data leak can quickly escalate to over $7 million per incident, not to mention the damage to a business’s brand reputation and competitive advantage. And, unfortunately, cyber attacks are getting more sophisticated every year. There are many solutions on the market to help businesses protect their information.
Lateral movement refers to the techniques that a cyber attacker uses. Once getting access to a corporate network, the attackers don’t stop there. They move around throughout the entire network, owning more computers and user accounts while exfiltrating data at the same time. They escalate their privileges to gain access to higher permissions and eventually access more confidential, critical and sensitive data.
In the context of hybrid work, the threat of data loss is rampant. Cybersecurity systems that were once designed to operate within the confines of a network perimeter have become obsolete, with employees using various devices, networks, and applications to get their work done. As such, it’s easier than ever for companies to be vulnerable to the loss of sensitive data. So, what’s the solution? Recently, Digital Guardian published The Definitive Guide to DLP: 2021 Hybrid Work Edition.
Many organizations are already cashing in on the promise of big data, hailed as the world’s most valuable resource. However, this crude resource requires refining in the form of data hygiene. Data errors and inconsistencies cost companies millions of dollars a year. Businesses that aren’t able to implement the tools, strategies, and training required often find big data to be more of an obstacle than an advantage.
Ransomware and other cyber attacks are getting more expensive every year. IBM’s recent report found that the average cost of a breach increased 2.6% from $4.24 million in 2021 to $4.35 million in 2022 — and the year isn’t over yet. Too often, data breaches are the result of routine lapses.
