Major data leaks dominate headlines worldwide every year, even with increased preparedness. The use of outdated systems and staff carelessness have always been attributed to the increased cases of breaches. Depending on the data sensitivity, the consequences can vary from the corruption of databases to the leaking of confidential information. The use of self destructing messaging can help protect organizations from such consequences.
Data Leak Explained: Is Your Information at Risk?
Most data leaks result in confidential, sensitive, and protected information being exposed to unauthorized persons. In most cases, the stolen data may be used for identity theft or other criminal activities.
The consequences of any leak are usually severe for businesses, organizations, and agencies tasked with being custodians of people’s data. For starters, people whose leaked data must be notified, which can affect a company or organization’s credibility.
It’s for this reason, the use of self destruct messages has become increasingly popular helping combat data breaches. Such messages are used to send sensitive data or info which disappears after a short while
How common are data leaks?
Data leaks are increasing by the day, becoming one of the most impactful reaches in the U.S. In 2022 there were more than 1800 data leaks, with the average leak costing about $9.44 million. Yet, according to the pomeron institute, more than 70% of companies need to prepare to avert the risk of data leaks, with most affecting small businesses.
In most cases, it takes about 287 days to identify and contain a major data leak, a period in which significant damage could be caused. Additionally, 80% of data leaks are caused by poor or the reuse of passwords.
How Do Data Leaks Happen?
Most data leaks are the result of internal problems and not as a result of a cyberattack. Therefore, they can be easily prevented.
Most leaks are a result of the following:
A leak can occur on an insider handing over crucial data to unauthorized persons knowing or unknowingly. In some cases, they may offer crucial data on being promised significant pay by people planning to use the data to their own benefit. In some cases, the insiders might hand over the data unknowingly as part of phishing and other social engineering schemes.
In this case, unscrupulous people or hackers use a variety of tools and schemes to cause a data leak. For instance, software vulnerabilities and weak password policies can be used by hackers to access crucial data.
Weak security protocols and outdated systems pose significant risks that can result in data being unintentionally exposed. Therefore, organizations should ensure their infrastructures are carefully configured.
What are the Consequences of a Data Leak?
The consequences of a day leak can be far-reaching and long-term. In some cases, they may cause a business to fold or significant financial loss due to penalties or business slows.
Arguably one of the biggest risks is the reputational damage that comes with data breaches as the news remains forever on the internet. Potential clients end up being scared off, which could result in significant business losses.
The risk of significant legal penalties is usually high, especially when it is found there were no proper security protocols to protect people’s data. For instance, Equifax incurred a penalty of between $575 million and $700 million for failing to protect its network resulting in data leaks.
Loss of Customer Trust
The risk of customer trust deteriorating is usually high, especially in sectors that handle confidential information. In these cases, businesses and companies must engage in significant marketing and public relation to regain trust
How Can Organizations Prevent Data Leaks?
One of the best ways of preventing data leaks is limiting and tightening access to data. Staff should only access data they need and be required to use strong passwords to access the network. Employees should also be encouraged to only use authorized IT tools to do their work and avoid leaving devices in public areas. Remote employees should be encouraged to use VPN and never connect through public Wi-Fi. In addition, the entire network should be updated regularly and proper security protocols implemented.
Duckist.com offers an easy way of averting data leak risks by sharing secret messages and confidential files using self-destructing messaging. The Tiger Team X developers ensure all messages get encrypted in the forefront.
While data leak is a serious problem, Duckist.com offers an easy way of staying a step ahead of any trick that can lead to leaks. By simply leveraging self-destruct messages, high level encryption, the Tiger Team X developers are helping millions share password messages and files securely and elegantly.