Stop Data Breaches Before It’s Too Late
Webz.io’s New Data Leak Detection Helps Stop Data Breaches Before it’s Too Late
We’re especially excited to announce that Webz’s data service to detect breached data is now available to the public. Here in this post we’ll explain why we developed this application of our data service and how you can use it as either a monitoring system for your customers or as an early protection to better detect data leakage threats to organizations and their customers.
Detect the Latest Data and Major Breaches as they Unfold
In the past year, we realized that a lot of the data our customers — especially those in the financial and cybersecurity industries — were searching for was personal identifiable information of their customers. This made sense since in the period between January 1, 2017 and March 20, 2018 the total number of records containing compromised personal and other sensitive data reached almost 2 billion. With the expansion of data breaches into almost every sector, it’s no longer a question of if there will be a data breach in your industry, but when.
Keep in mind that not all data breaches are equal: The more recent the data breach, the greater the risk to your organization. Significant data breaches, or those of larger magnitude from well-known brands, are often more damaging since they are sometimes more newsworthy and can take longer to resolve.
Realizing the importance of monitoring both these types of breaches in particular, Webz.io delivers you the ability to minimize risk from these two types of breaches: major data breaches based on the number of records compromised and the latest data breaches from the past few days and months.
Early Detection Mitigates Damage to Organizations
With the expansion of data breaches into almost every sector, it’s no longer a question of if there will be a data breach in your industry, but when. The good news is that the earlier your organization is able to detect a data breach, the more you can mitigate damage.
According to IBM, the average total cost of a breach ranges from $2.2 million for smaller breaches of 10,000 records to $6.9 million for breaches of more than 50,000 records. Mega-breaches, which can include more than 50 million records, can reach costs of up to $350 million. The same IBM study found that organizations that detected a breach less than 30 days after it occurred save over $1 million on average.
Remember that with data breaches, along with the cost to revenue of your product or service, there’s also the cost of a data breach to your brand. And the bigger the data breach, the more it damages your organization’s hard-earned brand and reputation as well as your consumer’s trust as time goes on. (Of course, other factors contribute to the damage done to your brand, such as the size of the breach, the media reports of the event, the audience affected, and how quickly the public thinks that the organization acted). The damage to your brand can extend far beyond its detection to even after the organization’s announcement of a change in policy to prevent future breaches.
That’s why the time between when a data breach occurs and its detection is critical. Every second your organization’s data is exposed accrues more damage to both your brand and your revenue.
For most organizations, there is a delay of an average of 6 months between the time that a data breach occurs and the time it is caught. And it’s in those 190 days that an enormous amount of damage can take place.
To better understand the relationship between the time a breach occurs and its detection, here’s an explanation of the life cycle of a data breach evolution over time, including its visibility and level of organizational risk:
Watch full video here
To further illustrate, let’s take two different examples of a customer that uses Webz.io’s data service for data breach detection:
- Let’s say that a customer in the financial industry is looking for a monitoring system to collect and detect compromised data from the latest leaks and deliver this service to their customers. Our DB leaks service includes our team of cyber analysts who manually verify the authenticity of leaks in combination with machine learning and then include them in our database depository for our customers. This is one of the ways our customers are able to stay on top of the latest and most recent data leaks in their industry.
- Here’s another scenario: An organization in the field of cybersecurity wants to be able to identify and provide early protection against data breaches for their organization and/or its customers. Webz.io is able to collect data for them through the constant monitoring of snippets of data throughout the dark networks and messaging apps. These snippets, which could be, for example, emails or passwords, give the cybersecurity organization the earliest warning possible of a data breach, while it still poses low-security risk to the organization.
Webz.io Defends Against Security Threats in Every Industry
As these threats continue to spread across different sectors, organizations will need robust and early warning monitoring services to protect them against these constant security threats. Identity threats in the first quarter of 2018 were the biggest security threat, with over 2.7 billion compromised records. Account and financial access were also significant threats, however, with 359 and 219 million compromised records. Already in the first quarter of 2019, more than 50 significant breaches have been reported, including more than hundreds of millions of compromised records. A superior data service such as Webz.io allows you to continuously monitor the most recent and significant data breaches regardless of the type of data compromised – whether it’s identity theft, medical, financial or eCommerce fraud.
Learn more about the data breach detection service Webz.io now offers.