Carphone Warehouse Customer Database Hacked
According to a news report by the BBC, the personal information of up to 2.4 million Carphone Warehouse customers was compromised in another cyber-attack. In addition, up to 90,000 customers may have had their encrypted credit card information breached. The attack was discovered on August 5th, 2015, but it wasn't made public until 3 days later on August 8.
What Information Was Compromised? Carphone Warehouse said the names, dates of birth, bank details, and addresses of customers may have been accessed. As a result of this breach, experts are suggesting customers change their passwords and ensure those passwords are not used for other services, such as online banking or email. The breach will also possibly affect OneStopPhoneShop.com, e2save, iD Mobile, Talk Mobile, TalkTalk Mobile, and other Carphone Warehouse customers.
What Is the Cost of the Data Breach?According to Ponemon Institute's 2014 Cost of Data Breach: Global Analysis, the average cost of a breach was $3.5 million, which is a 15% increase over the previous year's costs. Although Carphone Warehouse has launched a full investigation on how the hackers were able to access their IT systems, the damage is already done. In addition to the financial costs associated with a data breach, the public embarrassment and loss of public trust can destroy the public image of a brand.
Next Generation Secure Access Solutions Reduce the Risk of Data Breaches. Many organizations have only rudimentary access controls in place and rely too heavily on passwords to protect sensitive information. Given the frequency of major data breaches and the increasing sophistication of hacking methods, it is important to ensure that only authorized users, connecting from properly secured and authorized devices, can access sensitive information. Organizations of all stripes must evolve their security strategy toward next generation secure access solutions and away from antiquated perimeter and password based security models.
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Data breaches are increasing at an enormous rate. Can your business withstand the cost of a massive data breach?