Peer to Peer Magazine

44 Data Breach Discovery B Y B R I A N S C H R A D E R , E S Q . D ata breaches are no insignificant problem for businesses. The term "data breach" can cover a wide spectrum of activities, from malicious cyber attacks, hacking, phishing and ransomware to more innocuous actions like accidental exposure to the internet or employee negligence. The frequency of data breaches is on the rise. In 2018, 2,216 data breaches were reported worldwide, 28 percent of which involved insiders. And the number of records exposed through data breaches in 2018 dwarfed all previous years — 446.52 million, compared with 178.96 million the year before (a 126 percent increase). Addressing a single breach can cost a company millions of dollars — $3.86 million on average, or $148 per record. Even a problem that might seem small can escalate quickly: The exposure of just 25 email inboxes can yield over 1 million documents. That's why when a business is affected by a data breach, the owners need to find a quick, effective solution. After a breach occurs, companies should first take steps to secure any exposed emails and loose files while working to determine the severity of the breach. Any affected individuals should be notified quickly, and law enforcement should be alerted. How to Identify and Report on Compromised Data Data breach discovery is a process for quickly and accurately identifying and reporting on personally identifiable information and sensitive data that has been compromised. Data exposed in a breach is collected and searched, then processed and filtered using eDiscovery principles and forensic investigation techniques. Using this process, companies can get clear, actionable details on affected individuals and key data, helping to resolve a data breach and getting back to doing business in a secure way. ILTA WHAT IS A DATA BREACH? The unauthorized access, use or retrieval of data by an individual, group, application or service. 2,216 data breaches reported worldwide in 2018 28% of attacks in 2018 involved insiders 61% of breaches hit smaller businesses in 2018 $3.86 million average cost of a data breach Number of records exposed per year 0 100 200 300 400 500 2014 2015 2016 2017 2018 Ransomware Accidental exposure to the internet Unauthorized access Data theft by an insider Employee negligence or error Phishing Physical theft or exposure of data Data Breach Discovery ™ : How to Identify and Report on Compromised Data A DATA BREACH CAN HAPPEN IN A VARIETY OF WAYS: ERROR Cyber attack or hacking 1 2 3 4 5 6 7 8 ! 126% increase in the number of exposed records with personally identifiable information (PII) in 2018 $148 average cost per lost or stolen record in 2018 Millions of records exposed 85.61 million 169.07 million 36.6 million 178.96 million 446.52 million The exposure of just 25 email inboxes can yield over 1 million documents. RESOLVING A DATA BREACH When a data breach occurs, companies need to resolve the problem quickly by: • Securing any exposed emails and loose files • Notifying all affected individuals • Determining the severity of the breach • Alerting law enforcement No Insignificant Problem A B O U T T H E A U T H O R Brian Schrader, Esq., is president & CEO of BIA (www.biaprotect.com), a leader in reliable, innovative and cost-effective eDiscovery services. With early career experience in information management, computer technolo and the law, Brian co-founded BIA in 2002 and has since developed the firm's reputation as an industry pioneer and a trusted partner for corporations and law firms around the world. He can be reached at bschrader@biaprotect.com. download infographic » WHAT IS A DATA BREACH? The unauthorized access, use or retrieval of data by an individual, group, application or service. 2,216 breaches reported worldwide in 2018 28% of attacks in 2018 involved insiders 61% of breaches hit smaller businesses in 2018 $3.86 million average cost of a data breach Data Breach Discovery ™ : How to Identify and Report on Compromised Data

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