Dark Reading is part of the Informa Tech Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them.Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

Partner Perspectives  Connecting marketers to our tech communities.
4/28/2016
01:30 PM
Raj Samani
Raj Samani
Partner Perspectives
Connect Directly
Twitter
RSS
50%
50%

The Morning After: What Happens to Data Post Breach?

We need consumers and businesses to not simply shrug off data breaches but to take active measures to protect their data. We are hopeful that new insights will provide a compelling answer to the question "So what?"

No company is bulletproof when it comes to the compromise of data; this is the resounding message from Verizon’s 2016 Data Breach Investigations Report (DBIR). With statistics detailing how many records have been compromised, the fundamental question that is often overlooked is “So what?”

I don’t mean to sound indifferent, but it is a response that we often hear. “Banks refund me anyway” and “Well, it’s just another notification letter. I get these all the time” are common refrains. Feeling numb to the dizzying statistics is a dangerous trend that without correct education could have significant repercussions to the data subjects that have been impacted.

To assist with that education, we have co-authored one section of the DBIR that explains what happens with data after a breach, in particular the monetization of stolen data and their associated markets. 

One of the biggest challenges we face when attempting to explain market pricing for stolen data is that not all data is created equally. How can we normalize various stolen data sets to establish “market prices?” In short, we cannot. It is for this reason that we focused instead on specific data sets—payment card information, financial account information, and medical data. 

What is particularly significant is how inexpensive it is to purchase this type of data, with payment cards selling for the price of a cup of coffee. However, we were surprised by the sharp drop in the price of stolen payment cards over the last several years. Apparently, the law of supply and demand applies to all markets, including the criminal marketplace. With so many recent confirmed payment card breaches, there is only one direction for the market price of these cards to move—downward!

We are hopeful that such insights provide a compelling answer to the question “So what?” As a society, we are increasingly dependent on digital systems. We need consumers and businesses to not simply shrug off data breaches but to take active measures to protect their data and not give criminals a shortcut to becoming millionaires. As the European Cybercrime Centre states in the report, “Only through a coordinated effort involving all parties will we be in a position to tackle this threat.”

Raj has previously worked as the Chief Information Security Officer for a large public sector organization in the UK. He volunteers as the Cloud Security Alliance EMEA Strategy Advisor, is on the advisory councils for Infosecurity Europe, and Infosecurity Magazine. In ... View Full Bio
Comment  | 
Print  | 
More Insights
Comments
Newest First  |  Oldest First  |  Threaded View
Commentary
What the FedEx Logo Taught Me About Cybersecurity
Matt Shea, Head of Federal @ MixMode,  6/4/2021
Edge-DRsplash-10-edge-articles
A View From Inside a Deception
Sara Peters, Senior Editor at Dark Reading,  6/2/2021
Register for Dark Reading Newsletters
White Papers
Video
Cartoon
Current Issue
The State of Cybersecurity Incident Response
In this report learn how enterprises are building their incident response teams and processes, how they research potential compromises, how they respond to new breaches, and what tools and processes they use to remediate problems and improve their cyber defenses for the future.
Flash Poll
Twitter Feed
Dark Reading - Bug Report
Bug Report
Enterprise Vulnerabilities
From DHS/US-CERT's National Vulnerability Database
CVE-2021-23394
PUBLISHED: 2021-06-13
The package studio-42/elfinder before 2.1.58 are vulnerable to Remote Code Execution (RCE) via execution of PHP code in a .phar file. NOTE: This only applies if the server parses .phar files as PHP.
CVE-2021-34682
PUBLISHED: 2021-06-12
Receita Federal IRPF 2021 1.7 allows a man-in-the-middle attack against the update feature.
CVE-2021-31811
PUBLISHED: 2021-06-12
In Apache PDFBox, a carefully crafted PDF file can trigger an OutOfMemory-Exception while loading the file. This issue affects Apache PDFBox version 2.0.23 and prior 2.0.x versions.
CVE-2021-31812
PUBLISHED: 2021-06-12
In Apache PDFBox, a carefully crafted PDF file can trigger an infinite loop while loading the file. This issue affects Apache PDFBox version 2.0.23 and prior 2.0.x versions.
CVE-2021-32552
PUBLISHED: 2021-06-12
It was discovered that read_file() in apport/hookutils.py would follow symbolic links or open FIFOs. When this function is used by the openjdk-16 package apport hooks, it could expose private data to other local users.