2024 Data Breaches Top 5: What Businesses Must Know

This year has seen some of the most significant data breaches, with hackers going after various industries. From healthcare giants to tech platforms, all business types have been affected. These breaches show how important it is for businesses of all sizes to step up their security game and stay alert. These incidents underscore the urgent need for any business type or size to enhance its security measures and increase awareness about cybersecurity threats. While major corporations often make headlines, small to midsize businesses (SMBs) face the same risks, often with fewer resources to combat them.

Here are the top five data breaches of 2024 and what they mean for your business.

1. National Public Data Breach

Earlier this year, a hacking group said they had stolen 2.7 billion personal records from a background checking and public data site. The stolen data includes sensitive information such as phone numbers, Social Security numbers, mailing addresses, and email addresses. Some of the stolen information has already been sold online, causing concerns about the potential for identity theft.

While the accuracy of the reported figures is uncertain, this breach underscores the importance of staying vigilant.

What You Can Do:

Monitor your financial accounts: Check your credit report and bank and credit card statements regularly for unusual activity.

Freeze your credit: Consider freezing your credit to prevent unauthorized accounts from opening. You can temporarily lift the freeze when needed.

2. Ticketmaster's Security Breach

A significant breach at Ticketmaster compromised the personal and financial data of over 560 million customers. Hackers infiltrated the company's database, stealing names, email addresses, phone numbers, and payment details. The breach revealed glaring gaps in the company's security infrastructure, leading to unauthorized transactions and identity theft for many victims. This incident also added to Ticketmaster's parent company, Live Nation's ongoing legal troubles.

Lessons for Your Business:

• Regularly audit your cybersecurity infrastructure to identify vulnerabilities.
• Encrypt sensitive customer data to minimize potential exposure.

3. Change Healthcare Ransomware Attack

In February, Change Healthcare, a major company in the healthcare industry, became a victim of a ransomware attack, exposing personal information of over 145 million individuals. Compromised data includes names, Social Security numbers, and medical records. This attack highlights the results of ransomware, particularly in industries handling sensitive information.

Takeaway for SMBs:

• Ransomware prevention is critical. Invest in endpoint detection and response (EDR) tools and regularly back up your data.
• Have employees participate in security awareness training to recognize phishing attempts, which are often the entry point for ransomware.

4. AT&T's Customer Data Breach

In March, AT&T reported a breach that exposed the personal information of approximately 73 million current and former customers. The stolen data included Social Security numbers, account details, and passcodes, some dating back to 2019. This breach is part of a troubling trend, following another AT&T breach in 2023 that affected 9 million users. The company now faces potential class-action lawsuits and increased scrutiny over its data protection practices.

How You Can Stay Protected:

• Ensure applications and operating systems are regularly updated and patched to prevent known vulnerability exploitation.
• Use multi-factor authentication (MFA) for all critical accounts.

5. Dell's Reseller Portal Breach

In May, Dell experienced a breach when a hacker used a brute-force attack to access a reseller's client portal. The attack exposed 49 million records, including customer names, email addresses, payment information, and account details. This incident raised serious questions about Dell's security measures, prompting the company to commit to overhauling its cybersecurity protocols.

Actionable Steps for Your Business:

• Limit access to sensitive systems to only those who need it.
• Implement strong password policies and consider using password managers to enhance security.

What Does This Mean for You?

If your data has been exposed in a breach, immediate action is essential:

• Freeze your credit: This is one of the most effective ways to prevent identity theft.
• Check your accounts: Monitor your financial accounts and online profiles for suspicious activity.
• Use tools to check your exposure: Websites like Have I Been Pwned can help you identify whether your email or other data has been compromised.

What Does This Mean for Your Business?

Cyber thieves are increasingly targeting small and medium-sized businesses (SMBs), even though most high-profile breaches have affected major companies. Due to their limited resources, SMBs are often easy targets. However, the impact of a security breach can be severe, leading to financial losses and damage to reputation.

To protect your business, consider taking the following steps:

1. Invest in cybersecurity tools by implementing firewalls, antivirus and endpoint protection software, and intrusion detection systems to protect your operations.
2. Provide training for your team, ensuring employees participate in security awareness sessions to learn best practices for passwords, multi-factor authentication, and recognizing phishing scams.
3. Prepare for potential breaches by developing a clear plan for identifying, containing, and mitigating cyberattacks.

By learning from the missteps of larger organizations, SMBs can take proactive steps to protect their data, their customers, and their future.

Protect Your Business With A FREE Security Risk Assessment

If these stories have you thinking about your own vulnerabilities, that's a good thing. The best defense is a proactive one. We're offering a FREE Security Risk Assessment to evaluate your network for potential risks. Our experts will assess your system's vulnerabilities, help you patch the holes and ensure your business is fortified against attacks.

Don't wait until you're the next headline - get your FREE Security Risk Assessment today! Click here to schedule or call our office at (630) 405-0749.