203 Mn Records Breached In India In H1 2017: Gemalto
The malicious outsider attack on food delivery app Zomato exposing 17 million records globally become the sixth biggest data breach in first half of 2017, reveals a study by security company Gemalto. At the same time, the continuous attacks on Aadhaar data was another significant data breach that put the focus on the financial access and identity theft breaches occurring in India, the study said.
In the first half of 2017, in India, 18 data breaches led to 203.7 million data records being compromised, states the study.
As compared to the last six months of 2016, the number of lost, stolen or compromised records increased by a staggering 167 million with 61 percent of data breach incidents being identity theft, the study noted.
Globally, a large portion of the 1.9 billion stolen or compromised data records came from the 22 largest data breaches, each involving more than one million compromised records. Of the 918 data breaches recorded worldwide more than 500 (59 percent of all breaches) had an unknown or unaccounted number of compromised data records.
“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.”
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.
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, it said.
Most of the industries the Breach Level Index tracks had more than a 100 percent increase in the number of compromised, stolen or lost records. Education witnessed one of the largest increases in breaches up by 103 percent with an increase of over 4,000 percent in the number of records. Healthcare had a relatively similar amount of breaches compared to the last six months of 2016, but stolen, lost or compromised records increased 423 percent.
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