Recent headlines reveal another fruitful summer for cybercriminals. One of the largest, courtesy of CapitalOne, has resulted in the breach of 100 million credit card applications, 140,000 social security numbers, and 80,000 bank account numbers. This information makes its way to the dark web, where it can be sold and traded for as little as $4. And if you thought that was a problem - Artificial Intelligence (AI) is making things far worse.
Typically, after a breach information ends up on the dark web for purchase. The data is sectioned off and sold on a breach by breach basis. Now, hackers are using AI tools to aggregate information from different breaches and creating "profiles" for victims of multiple security events. For example, they are able to create a packet that contains a person's social security number from Equifax, their email address from Yahoo, financial details from the IRS, and social content from LinkedIn. Given the massive backlog of breaches to pull from, these cybercriminals are able to create individuated profiles with all the information needed to pursue malicious action. This raises the necessary question: how can you keep your information safe going forward?
Multi-factor authentication (MFA) is commonly touted as the first line of defense. While you absolutely should implement MFA on your devices, it won't protect you in the event of a third-party breach. MFA only inhibits unauthorized access through legitimate avenues, for example, someone trying to steal your Amazon username and password. If a vendor's database is hacked, and your information is exposed, MFA won't ameliorate the situation.
In the wake of these massive breaches, it's also important to remember where responsibility lies. During coverage of CapitalOne, companies were incorrectly conflating Amazon's AWS platform with CapitalOne's IT department, whose employees are ultimately responsible for securing their client data.
These safeguards are in the hands of the enterprise, not the platform provider. And whether cloud-based or on-premise, they require thorough IT oversight. If you're looking to implement any of the changes mentioned above, or improve your company's overall security posture, consider reaching out for a free IT consultation today.