First Half 2017 Breach Level Index Report: Identity Theft and Poor Internal Security Practices Take a Toll
(Thomson Reuters ONE) -
* 164% increase in stolen, lost or compromised records
* 103% increase in the number of breaches in the education industry
* 74% of data breach incidents were identity theft
Amsterdam, September 20, 2017 - Gemalto, the world leader in digital security,
today released the latest findings of the Breach Level Index, a global database
of public data breaches, revealing 918 data breaches led to 1.9 billion data
records being compromised worldwide in the first half of 2017. Compared to the
last six months of 2016, the number of lost, stolen or compromised records
increased by a staggering 164%. A large portion came from the 22 largest data
breaches, each involving more than one million compromised records. Of the 918
data breaches more than 500 (59% of all breaches) had an unknown or unaccounted
number of compromised data records.
The Breach Level Index is a global database that tracks data breaches and
measures their severity based on multiple dimensions, including the number of
records compromised, the type of data, the source of the breach, how the data
was used, and whether or not the data was encrypted. By assigning a severity
score to each breach, the Breach Level Index provides a comparative list of
breaches, distinguishing data breaches that are not serious versus those that
are truly impactful.
According to the Breach Level Index, more than 9 billion data records have been
exposed since 2013 when the index began benchmarking publicly disclosed data
breaches. During the first six months of 2017, more than ten million records
were compromised or exposed every day, or one hundred and twenty-two records
every second, including medical, credit card and/or financial data or personally
identifiable information. This is particularly concerning, since less than 1% of
the stolen, lost or compromised data used encryption to render the information
useless, a 4% drop compared to the last six months of 2016.
"IT consultant CGI and Oxford Economics recently issued a study, using data from
the Breach Level Index and found that two-thirds of firms breached had their
share price negatively impacted. Out of the 65 companies evaluated the breach
cost shareholders over $52.40 billion," said Jason Hart, Vice President and
Chief Technology Officer for Data Protection at Gemalto. "We can expect that
number to grow significantly, especially as government regulations in the U.S.,
Europe and elsewhere enact laws to protect the privacy and data of their
constituents by associating a monetary value to improperly securing data.
Security is no longer a reactive measure but an expectation from companies and
consumers."
Primary Sources of Data Breaches
Malicious outsiders made up the largest percentage of data breaches (74%), an
increase of 23%. However, this source accounted for only 13% of all stolen,
compromised or lost records. While malicious insider attacks only made up 8% of
all breaches, the amount of records compromised was 20 million up from 500,000
an increase of over 4,114% from the previous six months.
Leading Types of Data Breaches
For the first six months of 2017, identity theft was the leading type of data
breach in terms of incident, accounting for 74% of all data breaches, up 49%
from the previous semester. The number of records compromised in identity theft
breaches increased by 255%. The most significant shift was the nuisance category
of data breaches representing 81% of all lost, stolen or compromised records.
However, in terms of the number of incidents, nuisance type attacks were only
slightly over 1% of all data breaches. The number of compromised records from
account access attacks declined by 46%, after a significant spike in the 2016
BLI full year report.
Biggest Industries Affected by Data Breaches
Most of the industries the Breach Level Index tracks had more than a 100%
increase in the number of compromised, stolen or lost records. Education
witnessed one of the largest increases in breaches up by 103% with an increase
of over 4,000% in the number of records. This is the result of a malicious
insider attack compromising millions of records from one of China's largest
comprehensive private educational companies. Healthcare had a relatively similar
amount of breaches compared to the last six months of 2016, but stolen, lost or
compromised records increased 423%. The U.K's National Health Service was one of
the top five breaches in the first half with over 26 million compromised
records. Financial services, government and entertainment were also industries
that experienced a significant jump in the number of breached records, with
entertainment breach incidents increasing 220% in the first six months of 2017.
Geographic Distribution of Data Breaches
North America still makes up the majority of all breaches and the number of
compromised records, both above 86%. The number of breaches in North America
increased by 23% with the number of records compromised skyrocketing by 201%.
Traditionally, North America has always had the largest number of publicly
disclosed breaches and associated record numbers, although this is poised to
change in 2018 when global data privacy regulations like the European General
Data Protection Regulation (GDPR) and Australia's Privacy Amendment
(Notifiable Data Breaches) Act are enforced. Europe currently only had 49
reported data breaches (5% of all breaches), which is a 35% decline from the
previous six months.
Related Resources:
* For a full summary of data breach incidents by industry, source, type and
geographic region, download the First Half 2017 Breach Level Index Report
* Download the infographic here
* Visit the BLI website here
About Gemalto
Gemalto (Euronext NL0000400653 GTO) is the global leader in digital security,
with 2016 annual revenues of ?3.1 billion and customers in over 180 countries.
We bring trust to an increasingly connected world.
From secure software to biometrics and encryption, our technologies and services
enable businesses and governments to authenticate identities and protect data so
they stay safe and enable services in personal devices, connected objects, the
cloud and in between.
Gemalto's solutions are at the heart of modern life, from payment to enterprise
security and the internet of things. We authenticate people, transactions and
objects, encrypt data and create value for software - enabling our clients to
deliver secure digital services for billions of individuals and things.
Our 15,000+ employees operate out of 112 offices, 43 personalization and data
centers, and 30 research and software development centers located in 48
countries.
For more information visit www.gemalto.com, or follow (at)gemalto on Twitter.
Gemalto media contacts:
Philippe Benitez Kristel Teyras Shintaro Suzuki
Americas Europe Middle East & Asia Pacific
+1 512 257 3869 Africa +65 6317 8266
philippe.benitez(at)gemalto.com +33 1 55 01 57 89 shintaro.suzuki(at)gemalto.com
kristel.teyras(at)gemalto.com
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Press release (PDF):
http://hugin.info/159293/R/2135273/817081.pdf
This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Gemalto via GlobeNewswire
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