Security Breach Update
16 November 2018

A financial breach of epic proportion has occurred in Pakistan, with hackers making off with data from almost 8,000 bank account holders from 10 different banks.

The government’s cybercrime division is on the case, and hopefully making progress – although it is too early to tell.

The data is being sold on the Dark Web at $100 to $160 a record. With 11,000 records found so far, that is a pretty penny.

Recent Breaches

Canada – Ontario Cannabis Store/Canada Post
Exploit: Supply chain breach. Gained access to the Canada Post’s delivery tracking tool.
Risk to Small Business: Severe: Mail is highly personal. Nobody likes the idea of someone scooping a package off his or her porch (around here they are called porch pirates). The same idea applies to postal data. Even though the Canada Post was the organization compromised, the customers of the Ontario Cannabis Store suffer. Those customers are likely to take their business elsewhere especially given the newly legal status of the product.
Risk to Exploited Individuals: Moderate: Those affected by this breach are more likely to fall victim to identity theft and become targets of phishing emails. While this breach is moderate, this is a special case given those exposed are customers of a recently legalized drug. Those exposed could possibly face social/ business repercussions after their use of cannabis becomes public.
Customers Impacted: 4,500 customers / 2% of the firm’s customers.

United States – HSBC Bank USA. One of the largest banking and financial services organizations in the world.
Exploit: Multiple compromised online accounts
Risk to Small Business: Severe: The data compromised in this breach can be very harmful to an individual if in the wrong hands, and customers know this. Customers will second-guess their choice of a bank if their information is compromised and those thinking about setting up an account could very well look elsewhere.
Risk to Exploited Individuals: Severe: Those who are affected by this breach are at a higher risk of fraud and should take advantage of the identity monitoring program that HSBC offered to victims.
Customers Impacted:  Undisclosed at this time.

With the world becoming increasingly digital, state actors are waging war behind the scenes more and more. A good example of this is Russia crippling Ukrainian infrastructure by launching a cyber-attack on power plants.

Being proactive in developing a cyber securitys plan can be the difference in successfully defending a breach or losing millions to a harmful attack.

Protect your data, privacy and reputation, talk to a TCT sales team member today.

Robert Brown
16/11/2018

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