If you work as a trusted adviser to finance companies, you’ll want to take note of, and act on, the information in Verizon’s newly released 2014 Data Breach Investigations Report.
That’s because the financial sector suffered the most breaches with confirmed data losses – 465, out of 1,367 – of any other industry as cyber thieves strove to get their hands on peoples’ money.
In 2013, the use of stolen credentials, which Verizon defines as hacking, topped threat action, followed by malware-based data exfiltration, phishing, and the use of RAM scrapers and backdoors, Verizon reported.
Such activity points to opportunity for channel partners to reinforce security precautions and approaches with their finance-vertical customers.
But retailers and government agencies suffered from major data breaches, too, with Web application attacks, cyber-spying and point-of-sale intrusions among the most prominent IT security threats last year, Verizon found.
Verizon has conducted its data breach investigations report for 10 years. The latest analyzes 50 organizations from around the world with victims from 95 countries.