In the age of the internet, data leaks have become commonplace. Even the largest companies are not immune. In today's explainer, we will learn why data leaks happen and what hackers do with the leaked data.
Today, data has become as important as oil once was. Companies around the world are competing fiercely for data. The more data a company possesses, the more powerful it is. With the advent of AI, the need for data has increased even further because AI models are trained using data. While governments and companies collect data through many legitimate means, hackers and cybercriminals resort to illegal methods to obtain data, leading to incidents like data leaks and data breaches. In today's explainer, we will learn why data leaks happen and why hackers need people's data.
What is a data leak?
If you are active on social media, you have probably heard the term "data leak" many times. Often, news reports surface about thousands or millions of users' data being leaked from a company. A data leak occurs when sensitive information is leaked accidentally or unintentionally by an internal party or source.
What is a data breach and how is it different from a data leak?
Many people consider data leaks and data breaches to be the same. This is because these two terms are often used interchangeably, but there is a significant difference between them. As we mentioned, a data leak usually happens due to a mistake or accident within the company or organization, while a data breach occurs when confidential or protected information is accessed or stolen without authorization.
How do data leaks happen?
Weak Infrastructure - Weak infrastructure increases the risk of data leaks. If a system is not properly configured or maintained, it weakens the infrastructure's security. Incorrect settings or permissions can often lead to the risk of unauthorized access. Delays in replacing faulty components or patching software can also result in data leaks.
Social Engineering Scams - Although social engineering scams are external attacks, they only succeed when the target falls into the trap. Cybercriminals can infiltrate a company's network or system through social media, calls, or emails.
Weak Passwords - Using strong passwords is crucial for staying safe in the digital world. If an individual or organization uses the same password in multiple places, it becomes easy to bypass it. Additionally, passwords can sometimes be obtained through other tricks.
Stolen Devices - Stolen laptops, storage devices, mobile phones, and other devices can also lead to data leaks. These devices can be used to infiltrate an organization's network.
Software Vulnerabilities - Outdated software can also pose a threat to data. Cybercriminals can exploit security vulnerabilities in older software to gain access to data.
Legacy Data - As a company grows, its infrastructure is upgraded, and systems change. In such situations, older data is often neglected, and there is a risk of it being exposed.
Why do cybercriminals steal your data?
Hacking and data theft are big businesses for cybercriminals. They sell this data on the dark web for large sums of money. On the dark web, people buy this data for various reasons, including fraud, account takeovers, and ransomware. Stolen data is also used for unauthorized credit card purchases, taking out loans, and committing tax fraud. Sometimes, login details are stolen to gain access to online shopping platforms, etc. In such cases, the target can suffer significant financial losses. Sometimes, cybercriminals steal data to harm a company or organization. To do this, hackers gain access to data by breaching the company's network or installing malware.
What are the different ways data is stolen?
