Data breaches are now happening on a daily basis. In this article, we discuss the largest data breaches of the twenty-first century, paying more attention to the danger or harm to the company, the insurers, and the consumers than to the number of records that were exposed.
Even though you’re accustomed to hearing about data breaches and leaks in the news, you still need to understand how they occur. Paying attention to the latest report on data breach costs, we must also acknowledge that one of a company’s most valuable assets is data, and cybersecurity lessons are vital.
Data is the new oil, according to experts, because it is equal to knowledge, which is essential for making well-informed decisions. Although they are sometimes used interchangeably, the terms “data breach” and “data leak” relate to different things. An external actor gaining access to confidential information, for instance, through social engineering techniques, is a data breach. The purpose of the attack is to steal data. When a business or organization fails to put in place proper security procedures and leaves data exposed, data leakage happens. This exposure can have been planned or unintentional.
Let’s learn more about the data breach case study.
Case 1 – XYZ Tech: Lessons Learned
Security of information systems is now crucial to thwarting attacks. In addition, inadequate security might reduce an organization’s productivity. Because XYZ Tech Company has never performed an information system security audit, the goal of this research is to determine and understand the level of information system security in that organization. of this study, an information security management system of a business that adhered to the ISO 27001 standard was audited using the COBIT 5 methodology. This audit was carried out to find issues with information system security. Along with enhancing the information security management system, which will be changed to comply with ISO 27001.
Case 2 – CyberGuard Inc: Impact and Recovery
The country’s leaders in the surveillance and cyber security fields are Cyberguard Ltd. Cyberguard Ltd., a technology-focused business that began operations in 2017 in Dhaka, the capital of Bangladesh, has come a long way in firmly establishing its presence in the nation’s technical industry with cutting-edge goods and top-notch cyber security solutions & services. Since the company’s founding in 2017, it has successfully made small but significant strides toward the advancement of technology in the fields of software development and surveillance system advancement of the nation. It is now working to establish itself as a trendsetter in the field.
Data breach impact can be awful. The CyberGuard Inc breach technique of protecting networks, computers, servers, mobile devices, electronic systems, and data from hostile intrusions is known as cyber security. It is often referred to as electronic information security or information technology security. The phrase can be broken down into a few basic recovery strategies, and categories and is used in a wide range of applications, including business and mobile computing.
Case 3 – DataFortress Ltd: Vulnerabilities Exposed
A crucial part of an organization’s cybersecurity routine is to keep an eye out for newly discovered vulnerabilities. A vulnerability is a weakness or flaw that enables a threat actor to violate at least one of the confidentiality, integrity, or availability security principles. Developers and security teams collaborate to deliver preventive measures, known as a security patch, whenever Cybersecurity vulnerabilities are made public.
The well-known company DataFortess Limited is responsible for the initial introduction of top-notch secure records management services in Bangladesh. When DataFortress Ltd breach
first began operating in 2014, it offered enterprises in the nation secure document archiving & management based on international standards & technical know-how.
The objective of DataFort is to provide its clients with a useful “Solution”.
The complete range of paperless office solutions is available from DataFortess, including Physical & Digital Records Management (archiving), Document Scanning & Digitization, Enterprise Content/Document Management (ECM/DMS), Workflow Automation, Digital Board Meeting Automation, Robotic Process Automation (RPA), Fixed Asset Management, E-learning, Omni-channel Communication platform, cloud-based storage & managed services, and many others.
Case 4 – TechShield Corp: Legal and Financial Ramifications
As previously discussed, various data breaches and potential leaks can profoundly alter your company’s trajectory for the worse. Instantly, both potential investors, who have invested time and effort in your company, and clients, the driving force behind any business, may place significantly less trust in your organization. The consequences of a damaged reputation cascade into reduced productivity, a decline in the production of offered goods or services (even if they are informational), staff reductions, and subsequent market decline where you once thrived.
A similar experience was nearly faced by a computer security company. It is intriguing to observe this incident due to its irony. A company that inherently provides security for its clients encountered such a problem. Nevertheless, the TechShield Corp data breach forever altered its course. Suddenly, they confronted an issue that had not manifested for other companies. Data was leaked, trust was irrevocably lost, if not for one clever maneuver.
After resolving their legal consequences, they took advantage of their precarious situation. Subsequently, they developed a robust framework to thwart such malicious attacks on any business operating today. They endured significant financial penalties from both the government and the loss of funds from clients and investors.
Currently, this company stands as a leading entity in this domain, offering equally excellent solutions to safeguard you. They can be regarded as true pioneers, having thoroughly analyzed the issue and, based on their experience, providing outstanding solutions for all other clients, which has earned them renewed admiration.
Case 5 – SecureNet Solutions: Building Resilience
To the Enterprises and SMEs in the MEA region, SecureNet offers Cybersecurity, Networking, Telecommunication, Data Protection, and IOT Security data breach response as a value-added distributor of top international brands.
With the use of resilience strategies and technologies that process and regulate networks, programs, devices, and data from cyber threats, SecureNet offers security. Your risk of cyberattacks can be decreased, and SecureNet Solutions breach administrations and threat intelligence help you guard against the illegal use of systems, networks, and technology.