Causes And Consequences Of Data Leakage

Most organizations with company data files must predict that it is possible that someone would possibly hack into their files and cause a potential data breach.

This case study, written in 2009 is not the only case where a major data breach has occurred within organizations. In the late 2011 Sony’s PlayStation Network (PSN) was breached impacting up to 77 million user’s accounts including data on names, address and possibly credit card details. In late 2013 Target had a cyber-attack that compromised a large quantity of its data and had 110 million accounts compromised. Finally in September 2014 Apple had their iCloud server breached by hacking that compromised all the users of the online server. These occurrences still have some unanswered questions and several experts have yet to decipher the actual reason as to why the security breach occurred.

The continuous proliferation of information facilitated by the advancement in technology is a constant and continuous threat to information security and privacy. The various schemes and acts by the various government agencies in sectors such as health, finance and so on amongst other acts have constituted to information vulnerability and enhanced the breach of information security. Many people are of the opinion that the government has legalized spying on them, acquiring and using their private data at will. The confidentiality, Integrity and Availability of information has been greatly affected and many private information have been released to the public domain either

The Goodwill breach is a sore point for many security researchers as the 3rd party POS vendor has not yet revealed how the attackers compromised their environment. Unfortunately, this is the case in many data breaches over the past several years. Rather than sharing details with the community, organizations instead conceal critical details of the breaches whether out of embarrassment or fear of brand damage. There are also some legal reasons to consider such as protecting customer data and confidentiality of ongoing investigations by law enforcement.

* Loss of Confidentiality – Impact of unauthorized disclosure of sensitive information (e.g., Privacy Act).

The company mostly counts on computer systems to manage the account, process visitor transactions, review and examine outcomes. A minor damage or interruption from communications failures, computer viruses and mischievous attacks, security breaches and disastrous events could adversely affect operations. In Q1, revenue fallen down by 2.3%, in Q2, by 1.3%, whereas in Q3 from 0.4% for the year 2014 due to the data breach. Due to lesser promotional activity compared to the highly promotional activity in 2014 after the Data Breach, a satisfactory category sales mix and lower price cutting, there is Rise in gross margin rate from 29.5% last year to 30.4 percent this year. Assertions and investigations may effect on the business and results of operations. If company experience additional data breaches or fail to detect on time, the company could be

By listening the word itself making many business and people getting afraid of it. Data breach is leaking security information of people or public using different means and which results in compromising the millions and millions of people credit and debit card information 's , health information 's ,Social Security numbers .From the year 2005 to 2014 the data breaches have been increased a lot .Due to this millions of

Data breach of personal information can be very disturbing. Even, where the breach involves accidental and unintentional misuse of information, if the breach affects many individuals, the scale of the breach may create greater risks that the information will be misused. For example, some of the results from breach are: financial loss, identity theft, loss of employment opportunities, humiliation, and social bullying at workplace. Also, data breach can cause loss of public trust in the agency, reputational damage, losing assets, legal liability, and breach of secrecy provision in applicable legislation.

Management needs to let the public know about the data breach as soon as it is discovered. It also needs to consult with the legal counsel and other parties to figure out the estimate cost of the data breach that needs to be included in the company’s financial statement and discloses the breach in its financial statement. The management needs to be transparent in company’s financial reporting so that investors can be more confident about their investment.

On an average of 2% a year, personal records are exposed from over 700 public breaches over all areas of the departmentalized sectors. Global cost per every lost or stolen record are on the average of over $100 containing secret and touchy information. There were 35% more security incidents detected within the last

The second security issue involves dishonest workers. The collection, storage, and processing of petabytes of data requires countless workers of varying skill levels and backgrounds. It is a formidable task to investigate and certify the integrity of each of these workers and the difficulty of this task is compounded by the use of external contractors and service providers. The information they are working with, adds to the problem. Although most of it is benign and mundane, it can still provide valuable marketing data to competitors (Parms, 2015). If, on the other hand, embarrassing personal information could be linked to someone famous, it could be quite profitable to the dishonest employee who leaks it.

When developing an information system that will hold private and vital informations, it is necessary to think of protecting those data. The security of information is concerned with the following areas: confidentiality, data integrity, availability, authenticity, non-repudiation and risk management. All these security aspects, may be affected by purely technical issues (e.g., a malfunctioning part of a computer or communications device), natural phenomena (e.g., wind or water), or human causes (accidental or deliberate).This report will give a definition of these security issues with examples to illustrate them.

The confines of human errors can be hard to fix. The loss of documents or unencrypted equipment will result in theft or publishing of the data. However, these losses can generate breach response requirements. These requirements are triggered due to failure in protecting personally identifiable information (PII). The legal impact of such loss can be treated as theft and it may be treated as theft in categorizing breach causes in some cases.

The companies which suffer data breach not only lose their confidential information but also the reputation can all be negatively impacted in the aftermath of even a single incident. If a data breach results in serious identity theft then the organization may have to undergo criminal prosecution.

Data breaches are increasingly common as companies are faced with securing a multitude of networks, devices, applications, users, and files used in the course of conducting business. And with global workforces and the rise of cloud computing, security perimeters are more difficult to define than ever before. These issues combine to create a perfect storm – a climate ripe for hackers to take advantage of. (Lord, 2017) Below are the trending data loss trends to watch out for: