Report finds that data breaches should be top concern in 2013

As 2012 winds to a close, many business owners are trying to tie up all loose ends, ensuring that their year ends on a high note. One key thing to keep in mind, though, is preparation for the new year. Companies need to ensure that with technology evolving at a quick pace, their daily operations remain protected from new and unseen dangers.

The Verizon Data Breach Investigations Report (DBIR) found that the most likely threats for the next year involve more tried-and-true vectors. These include authentication attacks and failures, continued espionage and hacktivist attacks, web application exploits and social engineering.

The report added that the biggest thing for businesses to worry about in 2013 is attacks and failures related to authentication, including vulnerable or stolen usernames and passwords. After eight years of evidence, Verizon said that there is a 90 percent chance of that being a top concern.

Furthermore, the odds that web application exploits will negatively affect small to medium-sized businesses are three out of four.

"Given these odds, organizations that choose to take their chances and ignore secure application development and assessment practices in 2013 are asking for trouble," said study author Wade Baker.

Part of "not taking chances" also includes planning a response to a data breach. This is part of a thorough risk management analysis, which can determine the right technology insurance policy for a business. A comprehensive insurance plan can help in areas including identity theft services for the affected clients or employees of an organization, defense for lawsuits and indemnity for affected individuals. Also, PR services can be included, which will help restore the image of the disparaged company.

Working with commercial insurance specialists that specialize in technology insurance will guarantee that a company is covered should security be compromised. Even if consumers' information is not used by criminals, as soon as the information has left a business' control, a breach occurred.

 

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