Cyber Crime Report Finds Old Breaches Led to New Breaches

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Next Cyber Crime Report Finds Old Breaches Led to New Breaches-5 Next

Leading Cyber Crime Target: Customer Data

The second most common effect of cyber crime was loss of customer data. Interestingly, nearly half of the CyberFacts tied to customer data were in telecommunications and consumer goods. Specifically, criminals went after Verizon Enterprise Solutions, which had a database of 1.5 million clients' personal information put up for sale, and Time Warner, which announced as many as 320,000 customers may have had their email passwords compromised. According to Time Warner, the company wasn't breached so the root cause was either phishing or a third-party, supply chain compromise.

Past cyber attacks and the tools used to carry them out have led to new breaches this year, according to key findings in a new mid-year cyber crime trend report just released by cyber threat intelligence provider SurfWatch Labs. In a study of events that occurred in the first half of 2016, the stockpile of personal information garnered from old data breaches led to new compromises and lucrative payoffs for cyber criminals.

While the diversity of cyber threats can seem overwhelming when viewed in isolation, when viewed collectively, they paint a picture of an increasingly connected cyber crime world. Malicious actors excel at taking one piece of information and leveraging it to perform additional attacks, gain more information, and widen their reach. The stories so far in 2016 clearly demonstrate this method and capability, with numerous cyber incidents tied to previous data breaches. The effects of cyber crime continue to ripple outwards – affecting those in the supply chain and beyond.

Motivations behind the attacks ranged by industry and predictably, not a single sector was left untouched by the unscrupulous actors. The new report does indicate that the familiar company response to a breach — "We were breached by a sophisticated attack but it has now been contained" — actually contradicts what has really happened so far this year. In truth, the majority of tactics used were not new or sophisticated.

To compile this report, SurfWatch Labs collected tens of thousands of cyber event activities from open and Dark Web sources and then normalized, categorized and analyzed the data for impact based on the CyberFact information model. Knowing the breakdown of industries targeted, the effects of attacks and the tactics criminals employed provides better insight into what the bad guys are up to. This translates into more informed forecasts of how cyber crime will impact organizations similar to yours and consequently, what to do to minimize your risk.

In this slideshow, Adam Meyer, chief security strategist, SurfWatch Labs, has highlighted key findings from the report.

 

Related Topics : Unisys, Stimulus Package, Security Breaches, Symantec, Electronic Surveillance

 
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