Question

It seems like every day we hear about another data breach. Find and discuss at least TWO recent examples of data breaches. Why are these important? How can these affect a business? In the examples you cite, what was the cost to the business involved? How long did the breach continue before the company find the breach? Cite your sources. Do these cause you to not buy items online or use social media?

Answer 1

Recent 2 examples of data breaches are :-

• Marriott International - In November 2018, Marriott International announced that their 500 million customer data has been stolen.The attackers were able to stole valuable information like  contact info, passport number and other personal information. The company believes that credit card numbers and their expiry dates have been stolen and the attackers were associated with chinese intelligence group.

The data breach costs around $200 million loss and it has taken place in period 2014-18

As in the incident, credit card numbers have been stolen, the guests personal data has been compromised therefore it will affect the brand image of company which ofcourse will affect company's bussiness. Also, there is a risk of decrease in share value of brand (which has occurred for a short time).

• Uber- In late 2016, the company learned that 2 hackers were able to stole name, email address and mobile phone numbers of 57 Uber app users and driver license numbers of 600,000 Uber drivers.

The company paid the hackers $148 million to destroy the data .

  Before the incident, Uber’s valuation was $68 billion. By the time the company paid money to hackers  in December, its valuation dropped to $48 billion.

Incident like these gives a lesson to users , to use the application resources wisely and not store passwords . Also, the companies to spend more time on their security techniques.

No, these incidents will not force me to not buy items online or use social media instead teach me to use these application wisely and to change or freeze the resources like credit cards so that other incident would not take place .