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Malaysia sees colossal data breach that may have affected entire population

Technology website Lowyat.net reportedly discovered a huge Malaysian data breach that saw millions of people have their personal data stolen and leaked on the dark web.

The information was apparently taken from multiple Malaysian mobile phone operators, as well as the Malaysian public sector and commercial company websites.

With over 46 million confirmed records breached, this is one monumental data incident.
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There’s a reported shortage of cybersecurity specialists to protect organisations from breaches

The number of breaches are on the rise and they’re set to continue to rise due to an apparent shortage of experts trained in cybersecurity.

The Information Systems Security Association (ISSA) teamed-up with IT firm Enterprise Strategy Group (ESG) to produce a report on cybersecurity. Released one year after their first one, the report depicts a problem that is getting worse.

And we should all be very, very concerned about it…
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More firms fear data breaches but don’t know how to deal with them…

With the number of high-profile data breaches growing, like the Yahoo and Equifax hacks as two examples, more and more businesses are aware that they’ll probably suffer one sooner or later.

However, even though they’re aware of the risks and the possibility of an imminent attack, a lot of businesses reportedly don’t know where to start in terms of data security and how to react when a breach does happen.

This is worrying…
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Is it more cost effective to pay for cybersecurity or the aftermath of a data breach?

It should always be the case that cybersecurity is more important; hands down.

After suffering a data breach, organisations face all sorts of financial losses, including penalty fines for not complying with data protection obligations; or claims brought by data victims for compensation; and loss of profits as shares drop and customers turn away from them. Data breaches can have a huge impact on consumer confidence – a cost that can’t always be calculated so easily.

Prevention should always come ahead of dealing with an aftermath that could have been averted in the first place!
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Most U.K. citizens don’t trust organisations and businesses with their personal data

The Information Commissioner’s Office (ICO) conducted a study to see how U.K. citizens feel about their personal data being shared with organisations and businesses, and the results reflect an inherent mistrust and lack of confidence in how their data is being stored and handled.

The results of the study are likely to have been influenced by the colossal and numerous high-profile data breaches in the last couple of years that have seen millions of people have their personal data breached time and time again.
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New ICO powers to fine organisations up to £17 million

Law changes in the coming months mean that the Information Commissioner’s Office (ICO) enforcement powers will no longer be subject to a maximum penalty fine of only £500,000. If any person, company or organisation is found to have breached Data Protection laws in the U.K., they may find themselves slapped with a much heftier fine.

The new maximum fine can be 4% of the company’s global turnover or €20million (almost £17million); whichever is the largest.

The government is introducing this as they adopt stricter E.U. laws for data protection into U.K. legislation. Despite Brexit, the government have said that the new regulation will be implemented by May 2018 in any event.
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What are the risks of data theft?

With big data comes big risks…

This is even more the case in today’s growing digital era. Any company or organisation can be at risk of data theft if they’re not careful. That’s why cybersecurity is crucial to ensure that any risk of data theft is kept at a minimum. It’s not just about working hard to prevent cyber-theft, but it’s about working smart to stay one step ahead of the game.

The risks are huge.
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The “Fog of War” in cyberspace

Three computer scientists at the U.S. Army Research Laboratory once likened the fight for cybersecurity to the “Fog of War”. This is a term used in uncertain situations by participants in military operations.

Off the back of this, they put forward a new form of data security dubbed “cyberfog”. In comparison to physical military operations, cybercrime can be hard to monitor and detect – who is the enemy? What tools are at their disposal? What are their finances and strengths?

Such uncertainties can make the fight against cybercrime so much harder, so making data harder to hack is always a solid step forward, and that’s essentially what “cyberfog” is intending to do.
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