You may trust that because you personally aren’t accessing the Dark Web that you don’t have anything to worry about. But, did you know that in Q1 of this year, in the financial sector alone, leaked credentials were up 129%? What does this mean, and how do these leaks happen?
The most common way an individual’s credentials end up on the dark web is through a data breach. This could mean a data breach of your personal information, but \, more often than not your credentials are compromised due to a breach of data where you hold an account and/or do business. Recent examples of the latter are Dow Jones, Facebook, Fortnite, Fema, Microsoft Email Services, Verifications.io, Ascension, Citrix, Quest Diagnostics, LabCorp and many more. These are just a few that happened this year, and as we discussed in last week’s blog, the Dark Net has been open to the public since 2003. So how worried should you be?
What if your business is proactively monitored and your employees are consistently educated on how to prevent a security breach? Should you still be concerned about the Dark Web? Unfortunately, yes. More times than not, your credentials are not stolen from you directly, but because of a breach of someone you do business with. If your credentials are compromised, they sadly are sold very cheaply on the Dark Web. Did you know that on the Dark Web, credentials cost as little as $2? That is less than a cup of coffee! These attacks are prevalent. In fact, there are approximately 1 million cyberattack attempts daily! On top of that, on average, compromised credentials aren’t reported until 15 months after the breach occurs. So now your information is out there and probably sold off before you are even aware of the compromise.
Another misconception is, "my business isn’t large enough to be concerned about a breach." Wrong again. 43% of cyber attacks are on small businesses and to make matters worse, 60% of those small companies will go out of business within 6 months of a cyber incident. This does not bode well for any business. Think about this statistic, in 2018, 1 in 9 emails received by each user contained malware. If you think it won’t happen to you, you are incredibly naïve and thus putting your business in severe danger.
As you can see, the reality that your data is on the dark web is quite likely. It is a danger that we cannot escape in today’s day and age, but we can minimize risk and react appropriately. To learn more about how to keep your credentials and data as safe as possible, be sure and check back next week as we will discuss how we at Pendello monitor and educate our clients to minimize the risk of data breaches. As always, for any additional questions on these terrifying topics, please reach out to our Pendello team of business technology associates. Our security experts can help you understand your risk and what is the best practice to keep your information safe.