More than 1,500 data breaches led to one billion data records compromised worldwide during 2014. These numbers represent a 49 per cent increase in data breaches and a 78 per cent increase in data records that were either stolen or lost compared to 2013, according to the IT security firm SafeNet recently acquired by Gemalto. The Breach Level Index (BLI) is a database of data breaches as they happen and provides a methodology for security people to score the severity of breaches and see where they rank among publicly disclosed breaches. The BLI calculates the severity of data breaches across multiple dimensions based on breach disclosure information.
According to data in the BLI originally developed by SafeNet, the main motivation for cybercriminals in 2014 was identity theft with 54 per cent of the all data breaches being identity theft-based, more than any breach category including access to financial data. In addition, identity theft breaches also accounted for one-third of the most severe data breaches categorised by the BLI as either catastrophic (with a BLI score of between 9.0 and 10) or severe (7.0 to 8.9). Secure breaches, which involved breaches of perimeter security where compromised data was encrypted in full or in part, increased to 4 per cent from 1 per cent.
The UK came in second place behind the US with the most data breaches worldwide in 2014. The organisations who suffered the biggest breaches in the UK included Mumsnet Ltd, where 1.5m records were breached, Axa Insurance, Harley Medical Group and Moonpig, where 3.5m records were breached. Aside from the Moonpig hack, which occurred as a result of unintentionally lost data, these breaches occurred because of malicious outsiders.
Jason Hart, VP Cloud Services, Identity and Data Protection at Gemalto, said: “We’re clearly seeing a shift in the tactics of cybercriminals, with long-term identity theft becoming more of a goal than the immediacy of stealing a credit card number. Identity theft could lead to the opening of new fraudulent credit accounts, creating false identities for criminal enterprises, or a host of other serious crimes. As data breaches become more personal, we’re starting to see that the universe of risk exposure for the average person is expanding.”
Besides the shift towards identity theft, breaches also became more severe last year with two-thirds of the 50 most severe breaches, according to their BLI score, having occurred in 2014. Also, the number of data breaches involving more than 100 million compromised data records doubled compared to 2013. In terms of industries, retail and financial services experienced the most noticeable trends compared to other industry sectors in 2014. Retail experienced a slight increase in data breaches compared to last year, accounting for 11 per cent of all data breaches in 2014. However, in terms of data records compromised, the retail industry saw its share increase to 55 per cent compared to 29 per cent last year due to an increased number of attacks that targeted point-of-sale systems. For the Financial Services sector, the number of data breaches remained relatively flat year over year, but the average number of records lost per breach increased ten-fold to 1.1 million from 112,000.
Hart added: “Not only are data breach numbers rising, but the breaches are becoming more severe. Being breached is not a question of ‘if’ but ‘when.’ Breach prevention and threat monitoring can only go so far and do not always keep the cyber criminals out. Companies need to adopt a data-centric view of digital threats starting with better identity and access control techniques such as multi-factor authentication and the use of encryption and key management to secure sensitive data. That way, if the data is stolen it is useless to the thieves.”
You can download the 2014 Breach Level Index Report at – http://breachlevelindex.com/pdf/Breach-Level-Index-Annual-Report-2014.pdf.
