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Rising instances of data breaches: 200 million records stolen this year
According to recent industry research, data breaches have been steadily on the rise this year, with an increase of 233 percent over last year.
A report from one data protection firm, Breach Level Index, showed that during the first quarter of 2014, almost 200 million records were stolen by cybercriminals during data breaches. This means that from January through March of this year, about 93,000 records were stolen each hour of the day.
While these statistics may seem frightening, they are not as surprising as the fact that only 1 percent of the 254 breaches occurring since the beginning of the year were considered "secure breaches." These are events where cybercriminals were able to access protected information, but had to get past several security levels including strong encryption and authentication systems.
Key study findings
The study paints an overall picture of data breaches in today's business environment, and showed that of all sectors, hackers targeted and infiltrated financial institutions more than any other market. Although these breaches only accounted for 14 percent of all events this year, the information stolen equates to 56 percent of all lost or stolen data records.
The study also found that cybercriminals, or malicious outsiders, were the cause of 156 breaches, or 62 percent of all instances this year. These hackers stole a total of 86 million records during the first quarter. On the other hand, malicious insiders caused 11 percent of breaches. However, as their tactics were more effective and often times less noticeable, these individuals were able to make off with 52 percent of stolen records.
Protection tips
While instances of data breaches are on the rise, there are steps that organizations can take to protect themselves. Forbes advised leveraging encryption to protect customer information and other sensitive data. Additionally, strong authentication credentials should be established at each connection point. Finally, implementation of malware detection software can help mitigate the risks and damages of a breach.
Protect data in transit with an SSL certificate today.
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