Risks and Mitigation of Data Leakage

What are Risks and Mitigation of Data Leakage?

Data leakage, or data theft, is a common cybercrime, or you can call it a digital vulnerability. It involves unauthorized electronic or physical data transfer from an organization to external recipients or destinations. It is done by professionals, and the modes vary.

For example, data leakage can happen via email or web access by hacking credentials. They may also use mobile data storage devices like USB keys, laptops, and optical media. It could also be in a physical mode, as some insiders may steal important information for personal vendetta.

Cybercriminals use various methods to steal valuable data from an organization for their profits. Basically, how bad a data leak is depends on what information got out and how much of it was leaked.

Causes of Risks and Mitigation of Data Leakage

• Social Engineering: When hackers steal data, it's often because they've tricked someone. They do this using 'social engineering,' which is basically manipulating people to give up their secrets. 'Phishing' is the most common trick.
  
  It's usually a message, like an email or text, that tries to fool you into sharing your personal info or doing something that helps the hacker. They play on your emotions to get what they want.
• Misconfiguration Issues: Setting up a data system that adds everything: apps, cloud services, and machine learning can be really difficult. You need to ensure that the machine learning (ML) tools get the right data to work, but protect sensitive data.
  
  This 'data configuration' is super important. However, as these systems are more complex, mistakes are easy to make. These configuration glitches/errors can lead to safety problems.
• Payment Fraud: Payment fraud is when someone tries to make a fake or illegal purchase. This can happen in a few ways, like credit card scams or pretending to return something you didn't buy.
  
  One tricky scam is called a 'triangle scam.' Here's how it works: a bad guy sets up a fake online store with really cheap prices. You buy something, giving them your credit card info. Then, they use your card to buy the item from an actual store and send it to you.
  
  You get the product, but they get your money and credit card details. It's a sneaky way to steal.
• Insider Threats: Life is no movie, but insider threats in companies are real! These 'insider threats' can be unhappy employees who used to work and still have access, or even business partners. They might steal information to make money and get revenge. So, even though they're on the inside, they can still be a big risk to a company's secrets and data.
• Malicious Electronic Communications: Not most, but almost all jobs today involve using the internet, email, and chat. These are great and easy modes of sending files and accessing stuff online. Unfortunately, hackers know this! They often target these communication tools because they're easy to trick.
  
  For example, a hacker might fake an email from a company you trust and just ask you to send them private information. They do this because it often works.

Also Read-Why Do You NeedCybersecurity Services for the Agriculture Industry​?

What Types of Information Cyber Criminals Look to Expose in Data Leaks?

• Account Credentials:Your usernames, passwords, and emails are the most common and first layer of data leaks. These login details (or 'credentials') are valuable, and cyber criminals want to prove their worth by hacking. Plus, it's the first and most important gate to take over your accounts (it's called 'account takeover' or ATO) to steal your personal information.
• Personally Identifiable Information (PII): Your personal info, like name, phone number, address, social security number, and email, is called PII (Personally Identifiable Information). Hackers love this stuff because they can use it to steal your identity, trick you with scams, or commit fraud.
• Trade secrets and intellectual property (IP): An organization is always working on something, things like new research, patents, plans for future products, and the actual code behind their software. This kind of super-secret information, what we might call 'proprietary' stuff or 'strategic company information,' is like their treasure. If it gets out, it could seriously hurt the company and even put it out of business.
• Company, Federal, or Business Information: Companies and government offices have lots of information that's just for them, not for the public. This 'internal' data includes things like emails between employees, secret records, how well the company is doing (performance metrics), meeting notes, employee files (HR records), and plans for the future (company roadmaps).
• Analytics: Businesses use data to learn about their customers and what's happening around them. This data, which we can call 'analytics,' might include past customer info, details about who their customers are (demographics), and even predictions about what might happen in their industry. This kind of data helps businesses make smart decisions. Because it's so valuable to companies, it's also valuable to hackers.

Top Data Leakage Prevention Technique

Identifying risks and Mitigation of Data Leakage Techniques is a great concern for businesses worldwide. Whether a business is an SME, MSME, or a large enterprise, it is important to protect the reputation in the digital scenario. So here are some results-driven data leakage prevention techniques they can consider:

Prevent Data Leakage With SG Computers

The identification of risks and mitigation of data leakage is crucial for the advanced security of your business's valuable information. Data leakage is no small thing! A company is run by many important data from clients, staff, vendors, accounts, etc. The leakage of single information can cost an organization millions and hamper its reputation. But, understanding its importance in the beginning and investing in robust data leakage prevention methods could save costs and from humiliation. Moreover, it will help create extra layered security measures for long-term security support.

This blog is your complete guide to the data leakage identification and prevention process. If you want to employ the methods in your existing It infrastructure and are looking for expert assistance, then SG Computers is your trusted partner.

Contact us today for a seamless data leakage mitigation solution and protect your business from potential financial and reputational damage.