A study by Verizon Business revealed that organized crime was behind more than 90% of all data breaches. The company investigated 90 data breaches that exposed over 280 million records.
Matthijs van der Wel, manager principal forensics EMEA, at Verizon Business Security Solutions, outlined the typical scenario for data losses. “The end user makes a mistake. The attacker takes advantage of some mistake committed by the victim company, hacks into the network, perhaps using an SQL injection attack, and installs malware on a system to collect data.”
The study also revealed that even hackers are feeling the sting of economic woes. The going rate for credit card numbers on the black market has dropped sharply from around $16 per record in 2007 to less than 50 cents today, in part due to market saturation and the over all credit crisis.
In response, hackers are turning to PIN (personal identification number) theft, and PIN fraud is exploding. PINs are used to secure both credit and bank accounts. 93% of compromised data comes from financial firms.
Hackers are not going away anytime soon. They will continue to roll with the punches and find new ways to steal and profit from personal data.