Wave Systems Corp. (fka WAVXQ)

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Cybercriminals exposed 5 billion records in 2019, costing U.S. organizations over $1.2 trillion

https://www.helpnetsecurity.com/2020/06/04/cybercriminals-exposed-5-billion-records-in-2019/

Cybercriminals exposed over 5 billion records in 2019, costing over $1.2 trillion to U.S. organizations, according to ForgeRock. Coupled with breaches in 2018 costing over $654 billion, breaches over the last two years have cost U.S. organizations over $1.8 trillion.

Healthcare: The most targeted industry

Healthcare emerged as the most targeted industry in 2019, accounting for 382 breaches and costing over $2.45B, an increase from 164 incidents costing over $633 million in 2018.

Despite healthcare being the most frequently targeted industry, technology firms had the highest number of records compromised from breaches with over 1.37 billion exposed in 2019 costing a total of over $250 billion.

Personally identifiable information (PII) remained as the most targeted data by attackers and was exposed in 98% of 2019 breaches, up from 97% in 2018.
•Unauthorized access was the most common attack vector used in 2019, responsible for 40% of breaches, followed by ransomware and malware at 15% and phishing at 14%.
•By targeting PII and leveraging unauthorized access, cybercriminals highlight how weaknesses in enterprises’ identity and access management (IAM) practices increasingly allow for greater volumes and more sensitive types of data to be pilfered.
•In fact, social security numbers (SSNs) were the most targeted type of data compromised as they were exposed in 384 breaches in 2019.

“Cybercriminals continue to refine their attack vectors and can execute a greater volume of attacks than ever before to pilfer consumer data,” said Eve Maler, CTO, ForgeRock.

“The Consumer Identity Breach Report’s findings demonstrate that no industry is safe. Enterprises need to critically evaluate their digital identity management strategies for weaknesses.

“Given that there are new pressures to tear down the corporate castle walls for access by bring-your-own devices, temporary workers and outside applications, organizations must deploy a modern platform that provides intelligent, contextual and continuous security that can prompt for identity validation after detecting anomalous behavior. They can then ensure more layers of security between threat actors and consumer data while delivering superior experiences to their legitimate users.”

Cybercriminals and exposed records: 2020 is set to outpace 2019

Based on Q1 2020 data, 2020 is set to outpace 2019 in terms of records breached, despite the fact the number of breaches tracks down by 57%. There have been 92 data breaches affecting 1.6 billion records in Q1 2020 alone, 9% more records than Q1 2019.

Healthcare is still the most breached industry in Q1 2020, accounting for 51% of the incidents, which may be due to attackers targeting strained healthcare organizations amid the COVID-19 pandemic. However, the most records exposed throughout Q1 2020 have been from social media firms.

Key findings
•Following healthcare, the banking/insurance/financial industry was the second most targeted in 2019, accounting for 12% of all breaches. This is followed by education (7%), government (5%) and retail (5%).
•Social security numbers and date of birth details were the most targeted data – accounting for 37% of breached information, yet this is down from 54% in 2018.
•Name and addresses (18%) and personal health information (17%) were the second and third most breached data types, respectively.
•Medical records are the most sought-after type of PII in Q1 2020, accounting for 25% of all exposed data.
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PROBLEMS IN THE MARKET THAT CONTINUE TO RUN RAMPANT: UNAUTHORIZED ACCESS, DATA BREACHES, RANSOMWARE, MALWARE and PHISHING can be STOPPED with WAVE SOLUTIONS!!! And the trend for exposed records in 2020 is UP!!! If Wave's key partners and new partners knew how Wave could stop these 5 problems, and the market embraced Wave solutions, Wave in 2020 and 2021 could keep trillions in organizations' pockets!!! The Wave alternative below helps explain Wave better and is highly recommended reading!!
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https://www.wavesys.com/

https://www.wavesys.com/wave-alternative

The IT perimeter is gone

With tablets, smartphones, and cloud applications, your employees can access sensitive data anytime, from anywhere. Indeed, around 70 percent of security breaches and data thefts are inside jobs. Meanwhile, the hackers only get better: advanced persistent threats (APTs) appear as normal traffic, and malware can go unnoticed for weeks.

It’s a new world, one without borders. Yet most organizations are still trying to protect their data with the same old firewalls and antivirus software. It’s not working. We refer you to the headline-making breach of the week.

You have to start with the device

Wave has an alternative: security that’s built into each and every device.

We’re talking about hardware: self-encrypting drives (SEDs), which protect data when a device is stolen or lost, and trusted platform modules (TPMs), or embedded security chips. Both go in at the factory, and increasingly, both are standard. They make it possible for you to monitor and control each individual device and its data, no matter where it is. But you need software to turn on and manage your SEDs and TPMs. Wave makes that software.

We’ve been refining comprehensive, centralized management of hardware-based security longer than anyone else. More than that, we’ve shaped the field as a founding member of the Trusted Computing Group, the not-for-profit that develops and promotes industry standards for the hardware.

Security that’s confirmed, not assumed

With Wave, you’ll know that you’re secure. Because we start with the individual devices, you get a broad, deep view of your network. You can see exactly who’s on it, with what devices and what apps, at any given time. Just for example, if Bob goes home and tries to log onto Facebook with the company laptop, Wave can stop him.

A big piece of this heightened security is device authentication. Traditional two-factor authentication requires what amounts to two user IDs. But by using the TPMs inside your devices, Wave can confirm the identity of not only users, but also the devices they’re on. Combine that with fast, enforced encryption of sensitive data via your SEDs—all easily managed with Wave software—and your data is protected from the full range of modern risks: device theft, missent emails, flash drives, portable hot spots … even (and no one else can say this) hardware keyloggers. Not to mention Bob.

Do we need to say that with Wave, compliance is no problem?

Start closing your security gaps today, with what you’ve got

You might be surprised to hear that 90 percent or more of your computers probably already have TPMs. Mobile devices are catching up fast. SEDs are newer, but you probably have a bunch of those too. Machines that don’t have them can often be outfitted at little to no extra cost. So you’ve got some or all of the hardware. All you need to do is turn it on with Wave.

It’s almost as easy as it sounds. TPMs and SEDs are built to open, vendor-neutral industry standards, and so are Wave solutions. That means Wave works on your existing mix of hardware, across platforms, and will evolve with you. It’s part of what makes the Wave alternative not only more secure, but also simpler and cheaper. Total cost of ownership for Wave data protection can be almost half that of a traditional software-based system.

Questions? Read on, or contact our sales department.

https://www.wavesys.com/contact-information