{"id":361,"date":"2022-11-11T00:00:00","date_gmt":"2022-11-11T00:00:00","guid":{"rendered":"https:\/\/tac.debuzzify.com\/?p=361"},"modified":"2023-06-19T13:48:57","modified_gmt":"2023-06-19T13:48:57","slug":"data-leakage-and-its-business-impacts","status":"publish","type":"post","link":"https:\/\/www.the-analytics.club\/data-leakage-and-its-business-impacts\/","title":{"rendered":"Data Leakage and its Consequences for Businesses"},"content":{"rendered":"\n

In the digital information age, data leakage is a severe concern for businesses of all sizes.<\/p>\n\n\n\n

Data leakage occurs when confidential or sensitive information is accessed without authorization. It can happen accidentally, through exfiltration by disgruntled employees, or via electronic communications with malicious intent.<\/p>\n\n\n\n

The consequences of data leakage can be severe, ranging from reputational damage to regulatory fines.<\/p>\n\n\n\n

Data loss prevention (DLP) is a critical tool for protecting against these threats. DLP solutions offer several benefits, including detecting and preventing data breaches, encrypting data in transit, and centrally managing security policies.<\/p>\n\n\n\n\n\n

Related: <\/b>5 Steps to Improve Data Management in Your Business<\/i><\/b><\/a><\/p>\n\n\n\n

What is Data Leakage?<\/h2>\n\n\n\n

Data leakage is when people who aren’t supposed to access, see, or know about confidential or sensitive information do so anyway. This situation can happen when data is transferred outside an organization without proper security measures.<\/p>\n\n\n\n

Data leakage can also occur when unauthorized individuals gain access to the information within an organization, such as through a malicious email attachment or a stolen laptop.<\/p>\n\n\n\n

Related: <\/b>How to Improve Data Quality Without Firefighting Them?<\/i><\/b><\/a> <\/i><\/b><\/p>\n\n\n\n

Types of Data Leakage<\/h2>\n\n\n\n

There are three main types of data leakage: accidental breaches, exfiltration by disgruntled employees, and electronic communications with malicious intent.<\/p>\n\n\n\n

Accidental breaches<\/h3>\n\n\n\n

Accidental breaches occur when authorized individuals unintentionally disclose confidential information. It happens when an employee sends an email to the wrong recipient or fails to secure a file containing sensitive data properly.<\/p>\n\n\n\n

A good example is the Facebook datasets that were exposed in April 2019<\/a>. It had more than 530 million users and included phone numbers, account names, and Facebook ids.<\/p>\n\n\n\n

It wasn’t Facebook’s intentional act. Yet, the private information of millions of people was at risk.<\/p>\n\n\n\n

Exfiltration<\/h3>\n\n\n\n

Exfiltration by disgruntled employees is a type of data leakage that occurs when an employee deliberately steals or discloses confidential information to harm the company.<\/p>\n\n\n\n

In 2008, a company called Cyber-Ark conducted a study<\/a>. Around 300 database administrators participated in the study. What they found is that 88% of them said they would take user data with them if they were to be fired.<\/p>\n\n\n\n

Cyber attack<\/h3>\n\n\n\n

Finally, electronic communications with malicious intent refer to situations where confidential information is accessed or disclosed without authorization through electronic means, such as phishing attacks or malware infections.<\/p>\n\n\n\n

In 2018, the Marriot International hotel chain announced that the sensitive information of more than half a million guests was exposed<\/a>. But it wasn’t an accident or an employee’s ill intention. An attacker managed to sneak into the system and steal the information.<\/p>\n\n\n\n

Another example of an information threat was with LinkedIn in June 2021. An attacker scraped and advertised for sales<\/a> of about 700 million users’ information on the dark web.<\/p>\n\n\n\n

What information are vulnerable to data leakage?<\/h2>\n\n\n\n

In general, any type of confidential or sensitive information can be vulnerable to data leakage. This includes, but is not limited to, the following:<\/p>\n\n\n\n