Choose 2 data breaches from the list above. For each:
• Describe the data breach that occurred.
• Explain how the data breach occurred.
• Explain how each of these weaknesses could have been countered by security measures.
• Explain what the cost of the data breach was. Include a monetary value.
• Include 1 more resource for each data breach chosen from the list above.
1. Equifax Data Breach:
Description: The Equifax data breach, which occurred in 2017, exposed sensitive personal information of approximately 147.9 million Americans. The breached data included names, Social Security numbers, birth dates, addresses, and in some cases, driver's license numbers.
Cause: The breach was the result of a vulnerability in Apache Struts software, an open-source web application framework used by Equifax. The vulnerability allowed hackers to gain unauthorized access to the company's database by exploiting a known vulnerability that had not been patched.
Countermeasures: Equifax could have prevented this breach by implementing several security measures. These include regularly updating and patching all software systems, implementing robust access control measures to limit unauthorized access, conducting regular security audits and penetration testing, and encrypting sensitive data to ensure it remains protected even if breached.
Cost of Breach: The total cost of the Equifax data breach was estimated to be around $1.4 billion. This includes expenses related to investigation, legal settlements, cybersecurity improvements, customer support, and credit monitoring services provided to affected individuals.
Resource: For more information on the Equifax data breach, refer to the following resource:
Title: The Equifax Data Breach: What to Do
Source: Federal Trade Commission (FTC)
Link: https://www.ftc.gov/equifax-data-breach-what-do
2. Target Data Breach:
Description: The Target data breach occurred in 2013, affecting nearly 40 million credit and debit card accounts. Hackers gained access to Target's network by exploiting a third-party vendor's credentials. The stolen data included customer names, card numbers, expiration dates, and CVV security codes.
Cause: The breach occurred when attackers successfully installed malware on point-of-sale (POS) systems in various Target stores. This malware was able to capture payment card information as customers made purchases. The attackers gained initial access to the network by stealing login credentials from a heating, ventilation, and air conditioning (HVAC) contractor working for Target.
Countermeasures: To prevent such breaches, Target could have implemented improved vendor risk management practices, such as conducting thorough security assessments and audits of third-party vendors. Additionally, the use of advanced threat detection systems and network segmentation could have limited the spread of the malware and prevented unauthorized access to sensitive payment card data.
Cost of Breach: The total cost of the Target data breach was estimated to be over $200 million. This includes costs related to investigation, legal expenses, compensation to affected customers, improvements in cybersecurity infrastructure, and damage to the company's reputation.
Resource: For more information on the Target data breach, refer to the following resource:
Title: Target: Timeline of a data breach
Source: CSO Online
Link: https://www.csoonline.com/article/2130877/target-timeline-of-a-data-breach.html