What Happens to Your Data After a Cyberattack?
In 2021, Verizon reported nearly 80,000 cybercrime incidents, with over 5,000 confirmed data breaches. Data theft is becoming a huge problem for businesses, and as cybercriminals get smarter, attacks are happening more often. We all know cyberattacks are a threat, but have you ever wondered what happens after a cybercriminal gets their hands on your data?
This blog takes a closer look at what happens when your data is stolen and how it can impact your business. Understanding the ways cybercriminals use stolen data can help you spot potential weak points in your cybersecurity. Let’s dive into four of the most common things hackers do with your data once they steal it.
4 Ways Cybercriminals Use Your Stolen Data
1. They Sell Your Personal Information
One of the biggest threats to organizations is that cybercriminals can sell personal information—like names, addresses, phone numbers, Social Security numbers, and email addresses—on the dark web. Surprisingly, this sensitive information is pretty cheap. According to CompariTech, full credentials (including your name, Social Security number, street address, and birthday) go for about $8 per record on the dark web.
2. They Distribute Login Credentials
Your usernames and passwords are valuable to hackers. Credential harvesting—when a hacker gathers and exploits a compromised user’s login details—made up 7% of cyberattacks in 2021, according to IBM. Once they’ve got your credentials, they can use them to access your accounts and steal even more of your information.
3. They Commit Financial Fraud
Cybercriminals love getting their hands on your financial information. Whether it’s your credit card numbers, PINs, or bank account details, they can use this data to pay bills, transfer money to themselves, or make fraudulent transactions online—all in your name. Verizon found that around 90% of cyberattacks are financially motivated, so protecting your financial data is key.
4. They Target High-Level Executives
Cybercriminals often use stolen data to launch even bigger attacks on your business. In a tactic called whaling, hackers impersonate a CEO or other high-ranking official to steal sensitive information, money, or gain access to the company’s network. Once inside, they can spy on or infect the network without anyone knowing.
How to Protect Your Business from Data Theft
With global tensions and cybercrime on the rise, it’s more important than ever to take control of your data and keep it safe. Strengthening your network’s security is the first step toward protecting your business. If you’re not sure where to start, consider partnering with an MSP (Managed Service Provider).
Sawyer Solutions in Alabama offers top-notch cybersecurity tools to help protect your business. Our experts are available 24/7 to guide you through the process of securing your data and improving your defenses.
Want to learn more about our cybersecurity solutions? Contact us today!