Security News > 2023 > November > Public exposure of data breaches is becoming inevitable

Allianz Commercial analysis of large cyber losses shows the number of cases in which data is exfiltrated is soaring, as is the number of incidents becoming public.

"Several factors are combining to make data exfiltration more attractive for threat actors. The scope and amount of personal information being collected is increasing, while privacy and data breach regulations are tightening globally. At the same time, the trends towards outsourcing and remote access leads to more interfaces for threat actors to exploit."

If data has been stolen, companies must know exactly what data has been exfiltrated and will likely have to notify customers, who could seek to claim compensation or threaten litigation.

Today, it is a different story, as with data exfiltration, hackers threaten to publish stolen data online.

Allianz Commercial analysis of large cyber losses shows that the proportion of cases becoming public increased from around 60% in 2019 to 85% in 2022 with 2023 set to be even higher.

The company may still face third party litigation for the breach of data, especially in the US. Indeed, there are few cases where a company should believe that there is no other solution other than paying the ransom to be able to re-access its systems or data.

News URL

https://www.helpnetsecurity.com/2023/11/01/public-data-exfiltration-exposure/