Page 28 - MTMP_Magazine

Recent Data Breach Trends Mean Your Info Was Likely Stolen Last Year
by Laura Pennington, TopClassActions.com
If you own a computer, smartphone, credit card or debit card, chances are your data was stolen in a recent data breach.
In just the first six months of last year, more than 25 million records (including medical, credit card and/or financial data or personally identifiable information) were compromised or exposed in data breaches every day—that’s 291 records every second, according
to digital security firm Gemalto.
The reason? The sheer number of people connected to a technology device at any given time means more opportunity for hackers to steal their information.
With more people relying on technology throughout the day, cybersecurity issues have far-reaching implications in just about every industry, including healthcare, social media, retail, and more.
WHO’S RESPONSIBLE IN DATA BREACHES?
No longer are identity thieves and hackers targeting major companies; businesses of all sizes are exposed to the risk of a hack and resulting data breach. While companies try to play catch-up in establishing protocols that lower their risk and protect consumers, consumers also must become educated about the dangers. Taking a proactive approach to protecting your own data will minimize the risk, but the possibility of a data breach still exists for everyone.
With data breaches now affecting so many millions per year, data breach lawsuits have begun to raise the question of what responsibility companies have for proactive policies designed to discourage hacks. More than 90 percent of consumers said they currently object to how their data is being used or shared by third-party vendors in a Blue Fountain Media study.
From fast food diners who filed an Arby’s data breach lawsuit and Sonic data breach lawsuit after they were exposed to identity theft simply from swiping their card at the restaurants, to people who thought they were protecting themselves by monitoring their credit scores only to learn their details were leaked in an Experian data breach, consumers want answers and more protection.
THE CHANGING LEGAL LANDSCAPE OF DATA PRIVACY
Hacks are becoming more common because of the speed at which technology advances today. Many people have multiple entry points for their personal data, such as tablets, phones, and computers. Each one is an opportunity for a hacker.
More than one million malicious software programs are created every single day, according to a CNN report, making it hard to figure out what to do to guard against every individual threat. With many
companies struggling to figure out how to pre-empt these threats in a constantly-evolving landscape, consumers continue to be at risk.
WHAT CAN HACKERS DO WITH INFORMATION REVEALED IN A RECENT DATA BREACH?
A hacker who accesses the personal details of a consumer through a recent data breach could:
• Withdraw funds from bank accounts
• Send communication on your behalf
• Sign up for utility services
• Get new credit cards in your name and run up debt • Impact your tax return filings
• Lock you out of your financial or social media accounts
• Destroy your credit score
All too often, a data breach victim learns about this after his or her identity has already been stolen.
TOP 5 U.S. DATA BREACHES IN 2018 WORTH MONITORING YOUR CREDIT FOR
Increasingly, consumers are calling on companies with demands to heighten security protocol so that hackers are less likely to try or achieve success with accessing personally identifying information. Despite these requests and rising legislator interest in data security, some consumers believe it’s too little, too late. And for many of them, it is.
Millions of people were affected by 2018 data breaches. The top five hacks affecting the most people that year included:
1. MyHeritage Data Breach. More than 92 million people who used DNA ancestry company MyHeritage had their passwords and email addresses leaked based on reports that came out in June. The hack led to a MyHeritage data breach class action lawsuit.
2. Quora Data Breach. Unauthorized access to the profiles,
email addresses, and passwords of 100 million people who used question-and-answer website Quora was noted in December.
3. Under Armour Data Breach. Leaked account details of 150 million MyFitnessPal users in February led to an Under Armour class action lawsuit.
4. Exactis Data Breach. More than 400 categories of personally (continued on page 43)
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