View from Peter Lancos, CEO
"Welcome to eXate's Global Data Diaries. This week we focus our attentions to data breaches, a growing concern for most organizations the effects of which can be felt for many years. In today’s highly diverse market, most organisations are greatly dependent on third parties for a variety of services. Although outsourcing business functions has its benefits, the security threats it poses are very real. Involving third-parties in the functioning of an organization can further increase the chances of the occurrences of data breaches. A report by Securelink, titled ‘A Crisis in Third-Party Remote Access Security’ says that over 50% organisations are susceptible to a data breach due to the undue access that is granted to vendors and other third-parties. While the awareness in this area has been growing, recent events have demonstrated the overarching effects of unsecured ties with third parties. Read more below -->
Almost All Organisations Suffered At Least One Data Breach in Past 18 Months
Nearly 100% of organizations experienced a cloud data breach within the last 18 months, according to the cloud infrastructure security firm Ermetic. The cloud data breach report also found that cloud security incidents increased by almost 20% within the past year.
Morgan Stanley’s Third-Party Data Breach Leaks Customers’ Sensitive Information via an Accellion Hack
Leading investment banking firm Morgan Stanley reported that hackers accessed its customers’ sensitive information in a third-party data breach. In a July 2 letter to the New Hampshire Attorney General’s office, the bank said that Guidehouse disclosed that hackers had accessed customers’ records in the Accellion hack. Guidehouse offers account maintenance services to Morgan Stanley’s StockPlan Connect business.
The 57 Biggest Data Breaches (Updated for 2021)
The rising trend in data breaches continues to angle upwards, and as a result, there has never been a more precarious time in history to launch and maintain a successful business. To prevent the repetition of mistakes that result in data theft, UpGuard compiled a list of the 56 biggest data breaches in history, including recent data breaches in 2021.