How valuable is your company to a hacker? How to protect yourself from data theft?

Why Are Your Data So Valuable?

Data is the new currency. Cybercriminals can earn fortunes by exploiting or selling information that may seem insignificant to us. What specifically draws their attention?

• Personal Data: Your employees and customers leave a trail of their data in your company’s systems every day. Information such as social security numbers, ID numbers, email addresses, and even phone numbers can be used for identity theft or financial fraud.
• Financial Data: Your company likely stores transaction details, invoices, and customer information. For hackers, this is a goldmine—they can sell this information on the black market, extort the company, or use it for scams.
• Access to Systems: Hackers often target companies not just to obtain data but to gain access to their systems. This way, they can use your infrastructure to carry out further attacks on other companies, exacerbating the problem.
• Intellectual Property (IP): Creative assets, patents, technical documentation, or innovative solutions can be targets, especially in technology sectors where IP is a major asset.

How Do Cybercriminals Exploit Data?

The data hackers acquire can be used in various ways. Here are some common methods:

• Black Market Sales: Personal data and login credentials are sold on forums and the dark web.
• Phishing Attacks: By obtaining email addresses or contact details, hackers can craft convincing messages that appear to come from official institutions, leading to further scams.
• Ransomware: Malicious software encrypts the company’s data, and criminals demand a ransom to decrypt it. In 2023, many companies, especially small ones, fell victim to such attacks.
• Identity Theft: With personal data, cybercriminals can impersonate your employees or customers and commit various financial frauds.

How to Protect Your Company?

• Implement MFA: As mentioned in our previous article, one of the best ways to protect against account takeovers is to implement Multi-Factor Authentication (MFA). Using Yubico keys can further enhance security by providing a physical barrier against unauthorized access.
• Regular Software Updates: Ensure all systems in your company are up-to-date. Hackers often exploit vulnerabilities in outdated software to carry out attacks.
• Data Backups: Regularly creating backups is crucial for protection against ransomware attacks. If your data is encrypted, you can restore it from a backup without paying a ransom.
• Employee Education: This is one of the most important lines of defense. Regular cybersecurity training can help employees recognize potential threats, such as phishing attempts or suspicious email attachments.
• Secure Data Storage: Ensure that your data is properly encrypted both during transmission and storage. Compliance with regulations such as GDPR also protects your company from legal risks.

How Valuable Are You Really to a Hacker?

The value that criminals assign to your data can vary depending on your industry, the size of your company, and the type of data you store. Companies in sectors such as finance, healthcare, or IT may be more vulnerable to attacks due to the value of the information they hold. According to reports, the average cost of a data breach in Poland is approximately 4.5 million PLN annually for companies, highlighting how valuable data can be even for small businesses.

Summary

Protecting data is not just about securing the privacy of your employees and customers but also crucial for your company’s stability and growth. You cannot afford to ignore cybersecurity threats—the value of your company in the eyes of a hacker might be much higher than you expect. By implementing appropriate security measures such as MFA, employee education, and regular backups, you minimize the risk of attacks and provide your company with better prospects for the future.