Study on Data breaches by Symantec and Verizon

April 21, 2011
Cyber Security, FedCyber Wire
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via Silicon India News

India: The year 2009 – 2011 has been potential years for cyber criminal all over the world. Threats to one’s data security have occupied a serious concern. Internal security is a painful arena to deal with. Symantec Internet Security Threat Report XVI revealed that organizations across the world spent an average of $7.2 million (Rs 32 crore) in 2010 to deal with damages caused by data breaches. According to the 2011 Verizon Data Breach Investigation Report the number of breaches in 2010 skyrocketed to 760 from 141.

The Report points out that Indian Banking Financial Services Insurance companies were the most targeted sectors from November 2010. India has been second largest generator of malicious code across the world and is the third highest generator of spam. India’s social networking audience grew 43 percent in 2010. It has the seventh largest social networking market. According to Symantec’s research over 80 percent of Indian organizations give employees access to social networking sites. And 73 percent of people go for the shortened URLs on social networks.

However a strange and usual shift in trend has been reported by Verizon Report. There has been staggering increase in the rate of crimes but most of them related to small data thefts. On average in 2009 the number of records stolen per breach was about 1.02 million.

Credit card and bank details top the charts. However intellectual property of companies has become the hotbed for these cyber criminals now. Other interesting arenas of cyber crimes arena are payment card numbers to intellectual property, information about business processes and deals being made between businesses.

Continued here.