Tag Archives: network threats

03.02.21
by

Personally Identifiable Information: Don’t Put Your Customers At Risk Of Cyber Theft

Are you making it easy for hackers to access your customer data as a result of not having a cyber security plan in place?

If you’re familiar with our IT blog, then you may already know what Personally Identifiable Information (PII) is and how it affects your business and your customers.

In previous blogs, we talked about:

  • What PII is
  • Why you need to secure customer PII
  • The top causes of a PII data breach
  • The risks to your business when PII is stolen

In this blog, we are going to cover how stolen PII implicates your customers — and why you should care.

First let’s refresh your memory on what PII is and what happens when there’s a PII data breach.

 

What is PII?

Personally Identifiable Information (PII) refers to various data points that can be used to identify an anonymous individual. Social security numbers, tax identification numbers, and location data are all examples of PII.

 

What Happens When PII is Stolen?

When a hacker gets hold of any type of PII, they gain access to confidential information. They can use this information to tap into your network and steal your data. They can also use this information to target your customers.  Having a cyber security plan is crucial.

So, how can they use PII against your customers, and why should you care? Keep reading to find out.

 

PII DATA BREACH: KNOW THE RISKS TO YOUR CUSTOMERS

  1. Identity Theft

Cybercriminals acquire sensitive customer data to use it to their advantage. For example, they can impersonate your customers using their credit card numbers, social security numbers, health plan beneficiary numbers or biometric identifiers. Then, they use this stolen identity to commit fraud or gain financial benefits.

  1. Social Engineering Attacks

Data breaches can uncover your customers’ PII, especially sensitive data, such as name, address, contact details, date of birth and so on. Cybercriminals can put these data points on the Dark Web and use them to launch social engineering attacks on your customers. The attackers may then psychologically manipulate or trick customers into sharing their confidential details.

  1. Blackmail Campaigns

Data breaches can expose sensitive medical information, such as psychotherapy reports or blood test reports. Cybercriminals can use this information to run blackmail campaigns against your customers by threatening to leak the information online.

As you can see, the implications of a data breach can have devastating effects on your customers, and this can also affect you.

 

How Stolen PII Affects You and Your Business

So, how does stolen customer data impact you?

If your customers experience a cyber attack of this kind, they will be less likely to work with you in the future. What’s more, they may write poor reviews, which can damage your online presence. They may even go as far as suing you for negligence.

Don’t lose the trust of your customers and the integrity of your business.

 

Keep Customer Data Safe and Secure

Want to do everything in your power to prevent a cyber attack? Leave it up to the experts at Third Power IT. 

Our consultants have decades of experience protecting data for healthcare facilities, financial institutions, e-commerce businesses, colleges, and more.

At Third Power IT, we know one size does not fit all when it comes to cybersecurity. That’s why we create custom IT packages based on your unique needs. 

Start building your cybersecurity strategy today. Get in touch with us now by contacting us online or calling us directly at: 844-677-3687

The post Personally Identifiable Information: Don’t Put Your Customers At Risk Of Cyber Theft appeared first on Third Power IT – Managed IT Services.

Courtesy of Miami IHIPAA Compliance IT Company - ThirdPowerIT.com

01.25.21
by

Miami IT Consultants Talk the Top 4 Internal Cyber Threats To Your Network

Is your business at risk of an insider cyber-attack?

 

Many business owners – and the IT professionals they rely on – focus on protecting their companies from external threats:

 

  • the lone hacker out for a large ransom
  • the industry competitor pilfering secrets
  • organized cyber-criminals with sophisticated phishing schemes

 

But what about internal threats?

 

The Dangers of Internal Cyber Threats

 

Some organizations fail to consider the true risks that insiders pose to their cybersecurity. But internal risks are every bit as dangerous and damaging as the external ones, even if there is no malicious intent.

 

Did you know a quarter of all cyber attacks happen because of an insider threat?

 

The 2019 IBM Cost of Data Breach survey revealed that 24% of all data breaches in the past five years were the result of negligent employees or contractors.

 

Another report, Insider Data Breach Survey, found:

  • 60% of executives felt employees who made mistakes while rushing to complete tasks were the primary cause of internal breaches.
  • Another 44% pointed to a lack of general awareness as the second most common reason.
  • 36% cited inadequate training for their organization’s security tools as a close third.

 

To drive home the full harm of insider threats, we’ve compiled four actual case studies of internal people who’ve wreaked financial and reputational damage when they got careless, or abused their knowledge and positions for personal gain.

 

Learn the top four internal cyber threats to your network now.

 

Top 4 Internal Cyber Threats to Your Network

 

Internal Cyber Threat #1: The Careless Employee

 

A report by a company’s chief security officer discovered that one of the organization’s techs was using duplicate credentials across multiple accounts and failed to set up two-factor authentication on at least two of his accounts.

 

The employee neglected to do two important cybersecurity best practices:

  1. Do not use the same log-in for more than one account
  2. Apply two-factor authentication for additional protection

 

This weak security enabled hackers to easily infiltrate the company’s network where they disabled and deleted all data backups – local and cloud. After sabotaging the organization’s backups, the hackers then installed ransomware and demanded payment. Without a usable backup, the company was forced to pay the ransom to recover its data.

 

What You Can Do

  • Set up automatic scans to check each client’s security settings on each machine to ensure that your IT security policies are being enforced.
  • Generate an automatic alert when two-factor authentication is not turned on where it should be.

 

Internal Cyber Threat #2: The Sneaky Former Employee

 

Former employees take your proprietary information with them when they leave. Unfortunately, some of them decide to appropriate that information.

 

In a case study, an engineer quit his job to start his own business that would be in direct competition with the company he left. According to court documents, the engineer hacked his former company’s server using a former co-worker’s stolen credentials.

 

Once inside the network, he was able to retrieve AutoCAD files, design schematics, project proposals, and budgetary documents – all information that could provide a competitive advantage over his former employer. The value attributed to proprietary information he stole was between $250,000 and $550,000.

 

For his efforts, the engineer was sentenced to 18 months in prison and two years of supervised release.

 

What You Can Do

  • Establish “exit procedures” for employee turn-over that includes the immediate removal of ex-employees from Active Directory.
  • Scan the network daily for suspicious log-in attempts by ex-employees and others, and generate an alert for each incident.

 

Internal Cyber Threat #3: The Compromised Third-Party Vendor

 

An “insider” doesn’t have to be located directly within your walls to become a threat to your network. Trusted third-party vendors may have enough access to your data to be unknowing conduits for external hackers and do damage to your network.

 

In one scenario, a hacker infiltrated a billing collections agency and gained access to patient information that belonged to one of the agency’s clients: a healthcare laboratory.

 

Almost 12 million patient records were compromised, including credit card numbers and other personal identifying information. A security firm that tracks compromised data found 200,000 patient payment details from the billing company for sale on the dark web.

 

Fortunately, the lab had insurance in place to cover some of the potential cost and liability as a result of the HIPAA violation.

 

What You Can Do

  • Set up internal IT security policies that limit storage of credit card and other personal identifying information.
  • Only grant access to select employees with security clearance levels.
  • Regularly scan the network for any suspicious log-in attempts and generate alerts to investigate.

 

Internal Cyber Threat #4: Software and Devices

 

Out-of-date devices and software typically do not receive critical security updates, rendering them accessible to hackers.

 

In one instance, a massive cyber attack penetrated a software vendor’s IT management systems through a legacy IP scanner tool and compromised an unknown number of end-user client servers.

 

Some clients had administrative superuser accounts created within their Windows active directory, so unidentified intruders had full access to their systems and data long before detection.

 

More than two months after the attack, the full extent of the damage was still unknown.

 

What You Can Do

  • Scan all networks daily for software that is missing the latest security patches.
  • Generate alerts for machines that need updating.

 

Protect Your Network With Third Power IT, Miami’s Most Trusted IT Consultants

 

As a reputable MSP, we understand cybersecurity and its significance to your business.

 

At Third Power IT, we provide cyber threat detection and protection that can accommodate networks of any size. Our specialized security software runs a daily check on your network and alerts us immediately when it detects potential cyber attacks.

 

Get the protection you need now. Call us at 844-677-3687 or visit www.ThirdPowerIT.com.

 

Sources:

  • Cost of a Data Breach, IBM, 2019
  • Insider Data Breach Survey 2019, egress, 2020

 

 

The post Miami IT Consultants Talk the Top 4 Internal Cyber Threats To Your Network appeared first on Third Power IT – Managed IT Services.

Courtesy of Miami IHIPAA Compliance IT Company - ThirdPowerIT.com