Common data breaches, how to spot them and protect yourself
From Facebook to Jeff Bezos, hacks happen on many levels
Morning Business Outlook: More than 4 million people have come forward looking for a piece of a $700 million deal to those who had their private information stolen back in 2017; fears over infant deaths lead to a recall of select Disney and Eddie Bauer baby sleepers.
The average data breach in the United States cost a company $8 million in 2019, data shows. That’s an uptick from $7.9 million in 2018 and more than twice the global average.
But hacks can happen on many different levels, hitting big brands like Facebook, small businesses and mom-and-pop shops, and even high-profile tech moguls like Jeff Bezos.
Here are three common types of breaches and what to do to protect your information:
Phishing
Phishing makes up 17 percent of all hacks, according to data from World Wide Specialty Programs. When a suspicious email hits your inbox and encourages you to click a malicious link or requests personal data, including financial information, that’s an example of phishing.
HOW TO PROTECT YOURSELF FROM A DATA BREACH
Malware and ransomware
About 30 percent of hacks occur due to malware, which scans devices like cash registers to collect private data. Ransomware, on the other hand, is when you get a message saying your device has been hacked and the hacker tries to convince you to pay a fee to fix it.
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Impersonation
Impersonating a business to gain access to private information accounts for another 30 percent of breaches, City Business Solutions found. While this is less common than malware and phishing, it still impacts a number of companies in the finance and insurance sectors.
Regardless of the type of breach, it’s important to take steps to protect private information.
“Be selective and consider whether you have a reason to think a given provider will protect your privacy and security,” Cameron F. Kerry, a visiting fellow of governance studies at the Brookings Institution, told FOX Business. “Only share data necessary for the service, like location data for ride-sharing … and keep software updates current to protect security."
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“We all accept some risk interacting online,” he said. “You can limit it but you can’t avoid it.”
Ronn Torossian, chief executive officer of 5WPR, agreed.
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“We tell people to ‘own it, secure it and protect it’ by using long and strong passwords, implementing multi-factor authentication on any account it’s offered and to update the latest security software, web browser and operating systems,” he told FOX Business.
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