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January 27, 2023by Delilah Schwartz

Cybersecurity and data privacy: Two sides of the same coin

We can be confident that our healthcare provider won't share our private medical records without our consent. Likewise, banks, insurance providers, and cellphone data companies won't share our financial information or social security number.

But what happens if those organizations fall victim to a breach? Last year, an estimated 22 billion private records were exposed in publicly disclosed data breaches - including an estimated 60 million medical records from Healthcare organizations, 2.5 million social security numbers from a single student loan provider, and 10 million detailed private records from Australian telecommunications giant Optus.

According to Verizon’s 2022 Data Breach Investigation Report, the predominant attack tactics used by cybercriminals were:

Compromised login credentials or remote access protocols to the corporate network.

Supply chain compromise through the organization's third-party partners or vendors.

Phishing attacks.

Software vulnerability exploitation.

Malware infection.

Organizations cannot effectively protect the privacy of the personal data in their hands (from customers, employees, and vendors alike) without robust cyber defensive mechanisms in place.

Failure to protect this data has significant consequences. Beyond the apparent erosion of customer trust, organizations that fall victim to data breaches face hefty fines for violating regulatory compliance standards and privacy laws. Moreover, as the total number of breaches continues to climb year after year, governments and regulatory bodies across the globe are implementing stricter cybersecurity requirements and heftier fines for data privacy violations.

Fortunately, when it comes to preemptive detection of potential exposures and proactive defense against cyber attacks and data breaches - Cybersixgill can help. To learn more about how we can help your organization maintain its promise of data privacy and protection, visit cybersixgill.com or email us at info@cybersixgill.com.

Happy data privacy week!

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