Serial data breach cases. When corporations know so much about you. Why don’t they protect your information?

At a time when cases of data breaches are a dime a dozen, is it finally the time where an individual’s privacy has gone for a toss and companies have found new ways to exploit customer data?

It just goes on and on, but nobody learns

The loss of customers’ personal information by business entities of all sizes and across industries is a well-established fact. Major News sources across the vast world of the Internet carry stories of serial data breach cases from around the world and, in particular, from advanced IT consumers such as the United States and the European Union.

While the above statement will almost always be agreed upon by most readers and leaves little to be argued upon, here are some colossal numbers that drive home the point we’re trying to make.

(1) Marriott Hotel Data breach – 500,000,000 users

(2) British Airways – 500,000 users

(3) Social Media website Quora – 100 million

(4) NHS data breach – 150,000 clients’ data leaked

(5) Facebook – Sensitive Data from 1.5 million users harvested

(6) 21st Century Oncology – 2,200,000 patients

(7) Quest Diagnostics – 11,900,000 patients and test customers

(8) Truecaller – 299,055,819 users

(9) United States Postal Service – 60,000,000

(10) First American Corporation – 885,000,000

What’s lost here is not only the customers’ Personally Identifiable Information (PII), but potential adverse financial and emotional loss. This also extends to the credibility of the organization

What does it mean to the end customer?

In other words, how much does an organization really know about you? The fact is, everything.

Take for instance, Facebook. What does Facebook not know about you? It knows everything from a user’s personal likes and dislikes, physical movement from one place to another, academic and work history, relationships, political hues, religion – the list is deep. With force multipliers such as Machine Learning, the depth of understanding Facebook has of every single user is much more.

Leveraging this for political purposes, as witnessed in the recent Cambridge Analytica affair, and other purposes would be child’s play.

‘It will not happen to us’

With such colossal numbers at every incident and with multiple (at least 10 to 15) very large incidents declared every year – and innumerable smaller ones undeclared and lost yet unnoticed, why do corporates still feel that they are immune: ‘It will not happen to us’.

The fact of the matter is that users want organizations, such as financial institutions, to offer them the best deals based on their financial health. However, such institutions are often incapable of meeting customer expectations and in securing customer data. In the process, clients get a raw deal.

Not Anymore…

HALOCORE is a one-of-a-kind technology that protects data of any type extracted from SAP systems. By integrating directly with SAP, HALOCORE protects extracted documents containing sensitive information with intelligent classification, strong encryption, and fine-grained access policies. This innovative approach allows enterprises to maintain a high level of control and security over sensitive documents extracted from SAP throughout their lifetime, even if these have been shared via email, downloaded to a recipient’s PC, moved to a mobile device, or uploaded to the cloud.


To know how SECUDE can protect your clients’ vital information, visit our HALOCORE page.


Reference

[1] Here’s how Facebook allowed Cambridge Analytica to get data for 50 million users

[2] Facebook, Cambridge Analytica and the alleged ‘data breach’: Here’s all you need to know

[3] NHS data breach scandal as details of 150,000 patients shared without permission

Related Reading

[1] A lesson from the Facebook-Cambridge Analytica Affair

[2] The seven colors of the insider threat rainbow

[3] Data breach by National Health Service reconfirms that systemic data leaks is an often overlooked security issue