Gemalto’s latest Breach Level Index has revealed that data breaches increased 49 percent in 2014 to 1 billion data records compromised, with cybercriminals targeting identity theft as top breach category.
Gemalto has released its latest Breach Level Index, revealing that more than 1 500 data breaches led to one billion data records compromised worldwide during 2014.
According to the report, these numbers represent a 49% increase in data breaches and a 78% increase in data records that were either stolen or lost compared to 2013.
Of these, only four were reported from South Africa, none of which were major enough to single out as severe breaches.
Continuing with this benchmarking by SafeNet following its acquisition by Gemalto, the Breach Level Index (BLI) is a global database of data breaches as they happen. It provides a methodology for security professionals to score the severity of breaches and see where they rank among publicly disclosed breaches. The BLI calculates the severity of data breaches across multiple dimensions based on breach disclosure information.
According to data in the BLI originally developed by SafeNet, the main motivation for cybercriminals in 2014 was identity theft, with 54% of the all data breaches being identity theft-based. In addition, identity theft breaches also accounted for one-third of the most severe data breaches categorised by the BLI as either Catastrophic (with a BLI score of between 9 and 10) or Severe (7 to 8.9). Secure breaches, which involved breaches of perimeter security where compromised data was encrypted in full or in part, increased to 4% from 1%.
“We’re clearly seeing a shift in the tactics of cybercriminals, with long-term identity theft becoming more of a goal than the immediacy of stealing a credit card number,” said Tsion Gonen, Vice-President of Strategy for Identity and Data Protection at Gemalto. “Identity theft could lead to the opening of new fraudulent credit accounts, creating false identities for criminal enterprises, or a host of other serious crimes. As data breaches become more personal, we’re starting to see that the universe of risk exposure for the average person is expanding.”
In addition to the shift toward identity theft, breaches also became more severe last year with two-thirds of the 50 most severe breaches according to their BLI score having occurred in 2014. Also, the number of data breaches involving more than 100 million compromised data records doubled compared to 2013.
In terms of industries, retail and financial services experienced the most noticeable trends compared to other industry sectors in 2014. Retail experienced a slight increase in data breaches compared to last year, accounting for 11% of all data breaches in 2014. However, in terms of data records compromised, the retail industry saw its share increase to 55% compared to 29% last year due to an increased number of attacks that targeted point-of-sale systems. For the Financial Services sector, the number of data breaches remained relatively flat year over year, but the average number of records lost per breach increased ten-fold to 1.1 million from 112,000.
“Not only are data breach numbers rising, but the breaches are becoming more severe,” added Gonen. “Being breached is not a question of ‘if’ but ‘when.’ Breach prevention and threat monitoring can only go so far and do not always keep the cyber criminals out. Companies need to adopt a data-centric view of digital threats starting with better identity and access control techniques such as multi-factor authentication and the use of encryption and key management to secure sensitive data. That way, if the data is stolen it is useless to the thieves.”
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Welcome to world of 2099
The world of 2099 will be unrecognisable from the world of today, but it can be predicted, says one visionary. ARTHUR GOLDSTUCK met him in Singapore.
Futuristic structures tower over the landscape. Giant, alien-looking trees light up with dazzling colours amid the hundreds of plant species that grow up their trunks. Cosmetic stores sell their wares via public touch-screens, with products delivered instantly in drawers below the screens.
This is not a vision of the future. It is a sample of Singapore today. But it is also an inkling of the world we may all experience in the future.
Singapore was the venue, last week, of the World Cities Summit, where engineers, politicians, investors and visionaries rubbed shoulders as they talked about the strategies and policies that would enhance urban living in the future.
As part of the Summit, global payment technologies leader Mastercard hosted a small media briefing by one of Singapore’s leading thinkers about the future, Dr Damian Tan, managing director of Vickers Venture Partners. The company’s slogan “We invest in the extraordinary,” offers a small clue to Tan’s perspective.
“We look as far forward as 2099 because, as a venture capital firm, we invest in the long term,” he tells a group of journalists from Africa and the Middle East. “Companies explode in growth because there is value in the future. If there is no growth, they won’t explode.”
The big question that the Smart Cities Summit and Mastercard are trying to help answer is, what will cities look like in the year 2099? Tan can’t give an exact answer, but he offers a framework that helps one approach the question.
“If you want to look at 81 years into the future, and understand the change that will come, you need to double that amount and look into the past. That takes us to 1856. The difference between then and now is the difference you can expect between now and 2099.”
- Arthur Goldstuck is founder of World Wide Worx and editor-in-chief of Gadget.co.za. Follow him on Twitter on @art2gee and on YouTube
Use the page links below to continue reading about Tan’s visions.
Win a Poster Heater with Gadget and Takealot.com
This winter Gadget and Takealot.com are giving away three Poster Heaters, which look like posters but become heaters when you plug them in.
Three Gadget readers will each win a unit, valued at R550 each. To enter, follow @GadgetZA and @Takealot on Twitter and tell us on the @GadgetZA account how many Watts the heater consumes.
What’s the big deal about these heaters? Many of us are struggling to keep the balance between soaring electricity costs and the need to keep warm this winter.
However, the recently launched Poster Heater by EasyHeat and distributed in South Africa by Takealot.com is not only one of the most cost effective electric heaters currently on the market, it is also easy to setup and use.
As the name indicates, it is a poster similar to one you would hang on a wall. But, plug it in and it turns into a 300 Watt heater. The Poster Heater isn’t designed to heat hallways or large rooms, but rather smaller ones like a bedroom or a baby’s nursery or a dressing room.
It uses radiant heating, which means that it heats up in a couple of minutes and the heat is directed at the objects or people around it, quickly taking the chill out of the air and providing a comfortable ambient temperature.
The other advantage of radiant heating is that it doesn’t dry out the air like infrared or gas heaters. Users also don’t have to worry about their children or pets getting too close to it because, even though it gets hot, it can be touched.
To enter the competition follow the steps below:
Competition entry details:
3. The competition closes on 31 July 2018.
4. Winners will be notified via Twitter on 1 August and Takealot.com will be in touch to organise delivery.
5. The competition is only open to South African residents.