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2024 Thales Global DataThreatReport: Trends in Financial Services madhav Tue, 10/15/2024 - 05:17 Financial services (FinServ) firms are key players in the global economy. Among these businesses, human error was cited as the leading cause of cloud-based databreaches at 41% (10 points higher than the global number).
Thales 2023 DataThreatReport: Sovereignty, Transformation, and Global Challenges madhav Tue, 05/09/2023 - 05:30 Despite the economic and geopolitical instability in 2022, enterprises continued to invest in their operations and digital transformation. This article highlights the key findings of the report.
trillion, the risk of a databreach extends beyond immediate financial losses. Data Security Thales | Cloud Protection & Licensing Solutions More About This Author > As Black Friday and Cyber Monday loom, the stakes for retailers extend far beyond enticing deals and record sales. trillion and $5.28 trillion and $5.28
The State of Data Security in 2024 However, not only individuals must protect their digital assets; organizations do, too. A host of threats continue to put enterprise data at risk. It's crucial to recognize that databreaches have enormous impacts on individuals, businesses, and society.
The Data Security Challenge Thales recently released the 2024 Thales DataThreatReport – Financial Services Edition which highlights the latest data security challenges and threats to financial services organizations. Human error was the leading cause of cloud-based databreaches.
2020 marks the launch of the Thales DataThreatReport-Global Edition for the seventh consecutive year. This year the report focuses on the post digital transformation era. The 2020 Thales DataThreatReport-Global Edition indicates that we have reached a tipping point.
According to the Thales DataThreatReport, Healthcare and Life Sciences Edition , in 2023, among healthcare and life sciences respondents, human error (76%) is the leading reported cause of cloud databreaches, well ahead of a lack of MFA, the second highest, at 11%.
Encryption, data sovereignty, multifactor authentication and website cookies are all vital ideas and technologies to keep consumers’ personal data safe – but research released this month reveals widespread confusion. Encryption ensures that, if they are able to access sensitive data, it remains protected.
Even when banking organizations are upgrading security posture to safeguard sensitive financial information, hackers can steal the data intelligently by tying known vulnerabilities together, and making it turn out to be a potential attack. The stolen data is used both to commit fraud directly and indirectly. Stolen credentials.
With increasing databreaches and unsuspecting users more vulnerable than ever before, cybersecurity situational awareness has never been more important. Discovering where all data is stored will not only help identify the types of data, but pinpoint where the most sensitive information is kept. Pass on passwords.
The following statistics on databreaches and enterprise security provide important context to the importance of managing user access to corporate resources: The Verizon 2021 DataBreach Investigations Report found that in 61 percent of instances of databreaches, stolen credentials were involved.
Experts found critical authentication bypass flaw in HPE Edgeline Infrastructure Manager UNC2529, a new sophisticated cybercrime gang that targets U.S.
Likening this flu scenario to a databreach, 70 percent of healthcare organizations report that they’re sick and the majority are not taking proven and adequate measures to stay well. With the chance of exposure being so high, where’s the obvious flurry of activity to protect sensitive data, even as the threat landscape expands?
Careful planning and forward-thinking security is the best way to protect your most precious asset – your data – either while it is in transit or at rest. Whether the databreach is from stolen identities or human error, privacy breaches of unencrypted data can result in severe penalties under data protection regulations such as GDPR or CCPA.
The Retail Cyber Threat Landscape Time and again, the retail industry has found itself in the crosshairs of cybercriminals. Databreaches in the retail sector illustrate the vulnerabilities inherent to this industry, emphasizing the need for robust cybersecurity measures. Governments: Look to global benchmarks.
Most organizations express confidence in their current status and budgets, but also expect to experience at least one databreach in 2024. Compromised Credentials Compromised identities from phishing, info stealers, keyloggers, and bad password habits provide the entry point for most ransomware attacks and databreaches.
Protecting Consumer Data is Priority #1. In our 2018 DataThreatReport-Retail Edition , we found 50% of respondents reported a databreach this past year, so it goes without saying that the holiday shopping season is a prime time for cyber criminals to target both retailers and consumers alike.
The 2022 Thales DataThreatReport, based on data from a survey of almost 2,800 respondents from 17 countries across the globe, illustrates these trends and changes. Malware and accidental human error are the biggest security threats. Ransomware’s severity, frequency and impact has altered breach economics.
Cybercriminals and fraudsters have become innovative enough to exploit the expanding attack surface of financial institutions and turn risks into threats. Disturbingly, 35% of survey respondents report experiencing ransomware attacks, underscoring the heightened risks faced by the financial sector.
The problem of the increasing threat landscape is equally reflected in the 2022 Thales DataThreatReport. While the majority of these advancements operate behind the scenes, protecting the organization transparently, authentication touches every member of an organization personally. Introducing Adaptive MFA.
In the 2020 DataThreatReport – Global Edition , more than a quarter (26%) of senior security executives from around the world with responsibility for their organizations’ IT and data security told Thales that their employers had experienced a databreach in the past year.
Disrupt LockBit Ransomware Variant Reward Offers for Information on LockBit Leaders and Designating Affiliates Darknet Drug Dealers Arrested After Packages of Meth-Laced Adderall Repeatedly Returned to Sender LockBit ransomware gang has over $110 million in unspent bitcoin Malware Anatsa Trojan Returns: Targeting Europe and Expanding Its Reach Migo (..)
As we navigate through 2024, the cyber threat landscape continues to evolve, bringing new challenges for both businesses and individual consumers. The latest OpenText ThreatReport provides insight into these changes, offering vital insights that help us prepare and protect ourselves against emerging threats.
As part of this, we’ll likely see a decline in consumers having to take an active role in authenticating transactions with more secure, and behind the scenes, technological methods taking its place. While this is in no way a new or ground-breaking revelation, a customer-centric business model will certainly be a key differentiator.
The State of Data Security in 2024 However, not only individuals must protect their digital assets; organizations do, too. A host of threats continue to put enterprise data at risk. It's crucial to recognize that databreaches have enormous impacts on individuals, businesses, and society.
At the start of the year, Thales released the findings of its latest annual global DataThreatReport which found that, as businesses everywhere undergo a form of digital transformation, the risk of databreaches has reached an all-time high.
It also introduces new concepts, including the requirement for notifying the regulator of any cross-border personal data transfers (both before and after the transfer). The new law goes further by introducing criminal sanctions for personal databreaches.
Any operational downtime or even worse data loss due to a databreach could significantly impact customer loyalty and their highly anticipated holiday season revenues. According to a recent study, the average cost of a retail databreach in 2024 is reported to be $3.48
Virtually every major financial institution, retailer, and scores of payment processors have been the victims of databreaches, incurring both financial and reputational damage. According to the 2022 Thales DataThreatReport – Financial Services Edition , 52% of U.S. million, second only to healthcare.
Almost 50% of retail respondents mentioned that retail cybercrime increased over the last year, and one-third of respondents experienced a retail databreach in the previous 12 months. Verizon DataBreach Investigation Report showed that retailers encountered 629 incidents in 2021, 241 of which with confirmed data disclosure.
The Data Security Challenge Thales recently released the 2024 Thales DataThreatReport – Financial Services Edition which highlights the latest data security challenges and threats to financial services organizations. Human error was the leading cause of cloud-based databreaches.
As threat actors get savvier about targeting our access credentials, the industry is gradually moving away from passwords altogether and into a passwordless future. This means switching wholesale to other forms of authentication, which may leverage biometric data, PINs, patterns, and passkeys in place of passwords.
Any operational downtime or even worse data loss due to a databreach could significantly impact customer loyalty and their highly anticipated holiday season revenues. According to a recent study, the average cost of a retail databreach in 2024 is reported to be $3.48
These technologies allow organizations to better create and manage data, as well as store critical information more efficiently. According to the Thales eSecurity 2018 Global DataThreatReport, Healthcare Edition , 95% of U.S. respondents reported using these technologies with sensitive data.
Nation-state attackers have exploited high-severity vulnerabilities in legacy VPN platforms to breach networks. Ninety-five percent of cybersecurity breaches are due to human error (Symantec Internet Security ThreatReport). Enable data driven device registration. Establish an IoT identity lifecycle.
According to the 2018 Thales DataThreatReport , two in five global healthcare organisations (39%) experienced a databreach in the last year, and that’s using today’s relatively modest and well-understood web systems.
As threat actors get savvier about targeting our access credentials, the industry is gradually moving away from passwords altogether and into a passwordless future. This means switching wholesale to other forms of authentication, which may leverage biometric data, PINs, patterns, and passkeys in place of passwords.
The historic amount of coverage that databreaches have produced in 2018 has exposed executives and consumers to the importance of security, like no year before. At the same time, enterprise organizations that spend more than 10% of their IT budget on security, 34% say that they have experienced a breach in the past year.
According to the Thales DataThreatReport, Healthcare and Life Sciences Edition , in 2023, among healthcare and life sciences respondents, human error (76%) is the leading reported cause of cloud databreaches, well ahead of a lack of MFA, the second highest, at 11%.
In this age of big data, the concept is fitting, because this kind of information is increasingly being used to identify individuals and even machines. For years identity management has relied on three factors for authentication: What one knows (passwords). Big Data Analytics. What one has (tokens). And what one is (biometrics).
to discuss the findings of the 2018 Thales DataThreatReport, Federal Edition. Question: Can you provide an overview of the 2018 Thales DataThreatReport, Federal Edition, and elaborate why it’s needed today more than ever? There also appears to be some confusion over how to best protect critical data.
According to the World Economic Forum 2023 Global Risks Report, cybercrime and cyber insecurity are among the top 10 short- and long-term global risks. The latest Verizon 2023 DataBreach Investigations Report highlights that due to digitization, SMBs and large companies increasingly use similar services and infrastructure.
While compliance enforces behavior through rules and consequenceslike being forced to exercisetrue buy-in reflects authentic understanding and commitment. Phishing-resistant authentication: Widespread use of passkeys, biometrics, and passwordless solutions to bolster security. Let me unpack what I mean.
One such advancement that's revolutionizing online security and user authentication is passkeys. By leveraging cryptographic techniques and biometric authentication, passkeys offer a more robust and user-friendly alternative to traditional passwords, addressing many vulnerabilities that have long plagued our online accounts.
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