US Data Breach Victim Numbers Surge 1170% Annually
Summary:
A new report by the Identity Theft Resource Center (ITRC), H1 2024 Data Breach Analysis, highlights a 1000% increase in the number U.S. data breach victims in Q2 2024, despite an overall 12% decrease in the actual number of incidents in those three months. The increase in victim numbers has been attributed to a small number of large breaches impacting organizations such as Prudential Financial and Infosys McCamish Systems, which account for tens of thousands to millions of customers. In the first half of 2024, the ITRC says it tracked 1571 data compromises, putting H1 2024 14% higher than H1 2023 – which became a record year for breaches. Overall the number of data breach victims in the first six months of 2024 (1,078,989,742) increased 490% compared to the first half of 2023 (182,645,409).
Security Officer Comments:
The report highlights a trend in actors going after large institutions and organizations, which account for thousands if not millions of customers. The financial services sector was the most compromised industry in H1 2024, according to the ITRC. Notably Healthcare breaches declined by 37% in H1 2024. However, the sector still accounted as the second most compromised industry, indicating the continued targeting of Healthcare providers by cybercriminals.
Suggested Corrections:
In light of the growing number of data breach victims, organizations should stay vigilant and prioritize incorporating robust security measures to protect their organizational assets and maintain the privacy of their customers’ data. This includes implementing multi-factor authentication, encrypting and backing up sensitive data, rotating credentials, and holding regular table-top exercises to help employees detect and report various threats to IT staff at the organization.
Link(s):
https://www.infosecurity-magazine.com/news/us-data-breach-victims-surge-1170/
A new report by the Identity Theft Resource Center (ITRC), H1 2024 Data Breach Analysis, highlights a 1000% increase in the number U.S. data breach victims in Q2 2024, despite an overall 12% decrease in the actual number of incidents in those three months. The increase in victim numbers has been attributed to a small number of large breaches impacting organizations such as Prudential Financial and Infosys McCamish Systems, which account for tens of thousands to millions of customers. In the first half of 2024, the ITRC says it tracked 1571 data compromises, putting H1 2024 14% higher than H1 2023 – which became a record year for breaches. Overall the number of data breach victims in the first six months of 2024 (1,078,989,742) increased 490% compared to the first half of 2023 (182,645,409).
Security Officer Comments:
The report highlights a trend in actors going after large institutions and organizations, which account for thousands if not millions of customers. The financial services sector was the most compromised industry in H1 2024, according to the ITRC. Notably Healthcare breaches declined by 37% in H1 2024. However, the sector still accounted as the second most compromised industry, indicating the continued targeting of Healthcare providers by cybercriminals.
Suggested Corrections:
In light of the growing number of data breach victims, organizations should stay vigilant and prioritize incorporating robust security measures to protect their organizational assets and maintain the privacy of their customers’ data. This includes implementing multi-factor authentication, encrypting and backing up sensitive data, rotating credentials, and holding regular table-top exercises to help employees detect and report various threats to IT staff at the organization.
Link(s):
https://www.infosecurity-magazine.com/news/us-data-breach-victims-surge-1170/