Unveiling Cybersecurity Threats: Insights from October 2023 Breaches

Cyber Threat Summary:
According to a new report from HackRead in October 2023 alone, there were over 867,072,300 breached data records, accounting for millions of dollars in lost data and having an irreparable impact on the reputation of all companies involved. Human factors account for around 82% of all breaches that occur in business environments. From an employee clicking on a spam link to accidentally giving out their username and password without realizing it, there are numerous ways that human error can quickly become the weak link in cybersecurity.

Security Officer Comments:
One known factor that hackers use to inspire employees to click on their links is action bias. Action bias is a trait of human psychology that inspires people to want to instantly react to any potential threat. When a hacker emails an employee and says that they need to reset their password because someone is on their bank account right now, they’ll be scared into instantly taking action. Of course, this is when they log into a false page and give away their user details.

Suggested Correction(s):
As we’ve mentioned in the past, employee training is crucial in preventing attacks like these; the report notes the same. Companies have also found it helpful to create simulation exercises and reward employees when they report strange-looking messages. The report also notes that companies are focusing on the different technologies that they can employ to decrease the impact of cyber events. Of course, effective data compliance, management, and backup strategy are vital steps in keeping businesses safe. Yet, other factors can lead to data breaches that most companies overlook.