Whether it is stolen credentials, vulnerable applications or ransomware, businesses today are more vulnerable than ever before to cyberattacks and data breaches. According to the Wall Street Journal the number of data breaches rose to a record 3,205 in 2023, up 78% from 2022, and the non-profit Identity Theft Resource Centre (ITRC) says in the first half of 2024, the number of data breach victims surpassed 1 billion—a 490% increase from the same time last year. 

What Is a Data Breach? 

The National Institute of Standards and Technology states that a breach is, “the loss of control, compromise, unauthorized disclosure, unauthorized acquisition, or any similar occurrence where: a person other than an authorized user accesses or potentially accesses personally identifiable information; or an authorized user accesses personally identifiable information for another than authorized purpose.” 

While many use the term “data breach” interchangeably with “cyberattack”, it is important to note that not all cyberattacks are classified as breaches.  

A data breach is specifically when somebody gains access to data such as Social Security numbers, bank account numbers or healthcare data. While companies are often victims of cyberattacks that lead to a data breach, a breach can also occur if there is a physical theft of hard drives, USB flash drives or paper files that contain sensitive information.  

Why Are Data Leaks Increasing? 

As businesses and individuals continue to adopt more cloud services and third-party integrations, as well as expanding remote work environments, the opportunity for cybercriminals continues to expand.  

“The number of people whose identities were compromised or misused, once again, grew in 2024,” said Eva Velasquez, President and CEO of ITRC. “We saw identity criminals use artificial intelligence to improve their phishing lures and create documents used to file false insurance claims and other official documents.” 

Data breach examples from the past year include Tencent, National Public Data, Change Healthcare, AT&T and Ticketmaster. Different industries, different vulnerabilities, but all victims of data breaches.   

Data Security and Leak Prevention  

It is said that an ounce of prevention is worth a pound of cure and preventing data breaches is no exception. The U.S. Small Business Administration recommends:  

• Train Your Employees. They should report suspicious emails, avoid suspicious downloads and protect sensitive vendor and customer information. 

• Secure your networks. Encrypt information and use a firewall. Ensure your Wi-Fi network is secure and hidden, and if you have employees working remotely, they should be using a Virtual Private Network (VPN). 

• Use antivirus software. Install it on all business devices and update the software regularly. 

• Enable Multi-Factor Authentication. This helps verify a person’s identity by requiring more information than just a username and password.  

• Monitor Cloud Service Provider accounts. When using a cloud service provider to host information and collaborate, especially for business also allowing employees to work remotely, added security is needed. 

• Secure your data. This includes payment processing tools, physical access to laptops and mobile devices and employee admin privileges. Backing up your data and auditing your systems to ensure access is restricted are important steps.  

• Work with partners you can trust. Prisma earned HITRUST certification to elevate and validate the performance of our data and systems security as we work with clients on printing, mailing and marketing campaigns. The certification provides a comprehensive set of controls and requirements for managing third-party risks, including assessing vendors and implementing appropriate safeguards.  

What To Do After a Data Breach? 

If your company falls victim to a data breach, it is important to act swiftly to secure systems, notify customers and fix vulnerabilities.   

A full list of steps can be found on the Federal Trade Commission site or U.S. Department of Health and Human Services for healthcare businesses, but overall it is best to start with securing areas that may have contributed to the leak and assembling your breach response team to take the next investigative and/or legal steps.  

As you look at breach notifications, Prisma and our team of printing and mailing experts are here to help you navigate the steps of securing your communication. We’ll stand by your side to ensure the confidentiality and integrity of your data during this critical time, and help you build marketing and mailing programs you can trust for years to come.  

Connect with our team now: poweredbyprisma.com