As of 2023, 45% of businesses have dealt with cloud-based data breaches, which has risen five percent from the previous year. Data breaches have increased with the advancement of cloud-based platforms and software as a service (SaaS). These services offer flexibility to access an absurd number of services on the internet rather than install ones individually. Although this is an incredible technological advancement, there are high-risk factors with data privacy that arise. Information can easily be shared between cloud services, meaning companies must protect their sensitive information at all costs. With the increase in the use of SaaS applications, there are security measures that should be taken to prevent data leaks from happening.
Here’s a rundown of well-known SaaS companies that have experienced significant data breaches and security measures to help prevent similar incidents from affecting you.
Facebook has faced multiple data breaches over the last decade, with their most recent one in 2019, affecting over 530 million users. Facebook failed to notify these individual users of their data being stolen. Phone numbers, full names, locations, email addresses, and other user profile information were posted to a public database. Although financial information, health information, and passwords were not leaked, there is still a rise in security concerns from Facebook’s users.
Malicious actors used the contract importer to scrape data from people’s profiles. This feature was created to help users connect with people in their contact list but had security gaps which led actors to access information on public profiles. Security changes were put in place in 2019, but these actors had been able to access the information prior.
When adding personal information to profiles or online services, individuals need to be conscious of the level of detail they disclose as it can be personally identifying.
Microsoft
In 2021, 30,000 US companies and up to 60,000 worldwide companies total were affected by a cyberattack on Microsoft Exchange email servers. These hackers gained access to emails ranging from small businesses to local governments.
Again in 2023, a Chinese attack hit Microsoft’s cloud platform, affecting 25 organizations. These hackers forged authentication to access email accounts and personal information.
Constructive backup plans are crucial for a smooth recovery after a data breach occurs. Microsoft constantly updates its security measures, prioritizing email, file-sharing platforms, and SaaS apps. These cyberattacks are eye-opening for how escalated the situation can become. Designating a specific team for cybersecurity can help monitor any signs of suspicious activity.
Yahoo
Yahoo experienced one of the largest hacking incidents in history, affecting 3 billion user accounts. Yahoo did not realize the severity of this breach, causing the settlement to be $117.5 million. Yahoo offers services like Yahoo Mail, Yahoo Finance, Yahoo Fantasy Sports, and Flickr which were all affected by this breach.
This one-click data breach occurred when a Canadian hacker worked with Russian spies to hack Yahoo’s use of cookies and access important personal data. These hackers could obtain usernames, email addresses, phone numbers, birthdates, and user passwords, all of which are personally identifiable information (PII) and more than enough for a hacker to take over people’s lives. An extensive breach like Yahoo raises concern for its users regarding data privacy and the cybersecurity of their information.
Verizon
From September 2023 to December 2023, Verizon experienced a breach within its workplace. This breach occurred when an employee compromised personal data from 63,000 colleagues. Verizon described this issue as an “insider wrongdoing”. Names, addresses, and social security numbers were exposed but were not used or shared. Verizon resolved this breach by allowing affected employees to get two years of protection on their information and up to $1 million for stolen funds/ expenses.
While this information was not used or extended to customer information, companies need to educate their workplace on precautions for data privacy. If individuals hear that the inner circle is leaking personal information about their colleagues, it raises concern for customers.
Equifax
Equifax, a credit reporting agency, experienced a data breach in 2017 that affected roughly 147 million consumers. Investigators emphasized the security failures that allowed hackers to get in and navigate through different servers. These hackers gained access to social security numbers, birth dates, home addresses, credit card information, and their driver’s license information.
This failed security check from an Equifax employee caused easy access for these hackers in multiple spots. Taking the extra time to ensure your company has secured loose ties is crucial for reducing attacks.
Conclusion
Data breaches occur no matter a company’s size or industry, but the risks can be reduced with secure and consistent precautions. Data breaches are common, especially with the extended use of cloud platforms and SaaS, but failing to store and transport information among services, to have a documented chain of custody, and data decommissioning process in place all play a role in having your sensitive information being accessed by the wrong kinds of people.
At SEM, we offer a variety of in-house solutions designed to destroy any personal information that is out there. Our IT Solutions, specifically our NSA-listed Degausser, SEM Model- EMP1000- HS stands as the premier degausser in the market today. This degausser offers destruction with one click, destroying the binary magnetic field that stores your end-of-life data. SaaS companies can feel secure knowing their data is destroyed by an NSA-approved government data destruction model. While an NSA-listed destruction solution isn’t always necessary for SaaS companies, it is secure enough for the US Government, so we can assure you it’s secure enough to protect your end-of-life data, too.
Whether your data is government-level or commercial, it is important to ensure data security, which is where SEM wants to help. There is an option for everyone at SEM, with a variety of NSA-listed degaussers, IT crushers, and IT shredders to protect your end-of-life data. Further your security measures today by finding out which data solutions work best for you.