The Rising Tide of Data Breaches: Don’t Let Your Business Be Next

News + Breach Mjolnir Security todayMay 29, 2023 89 5

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In the fast-paced digital world, data has become one of the most valuable assets, with companies that monopolize data standing as some of the most powerful entities on the global stage. This unprecedented value associated with data has unfortunately also given rise to a troubling byproduct – an epidemic of data breaches​1​. Even giants such as Facebook, with their vast resources, are not immune to these breaches. More and more companies are experiencing devastating security breaches, and as the statistics reveal, most companies are woefully unprepared for such events, despite breaches becoming more common​1​.

The U.S. Department of Justice defines a data breach as the loss of control, compromise, unauthorized disclosure, unauthorized acquisition, or unauthorized access to data, whether physical or electronic. These breaches can involve financial information, protected health information, personally identifiable information, trade secrets, or intellectual property. The average cost of such breaches globally stands at nearly $4 million​1​. Importantly, data breaches are not just the work of sophisticated cybercriminals; they can also occur due to careless disposal of computer equipment, human error, or poorly configured IT infrastructure​1​.

Given that businesses of all sizes are increasingly reliant on digital data, cloud computing, and a mobile workforce, the attack surface for potential breaches has expanded dramatically. The prevention of data breaches has thus become a top priority for CISOs and senior management at the board level​1​.

In the face of this rising tide of data breaches, Mjolnir Security’s Threat Intelligence service presents a robust solution. Scanning the darknet and TOR networks, the service identifies chatter related to impending ransomware attacks, uncovering the tactics, techniques, and procedures of ransomware groups in real time​2​. Combining the expertise of Mjolnir Security and Obsidian Security, this service focuses on identifying and addressing potential security risks and vulnerabilities within an organization’s Microsoft 365 infrastructure​3​.

Obsidian Security provides a comprehensive solution to bolster your SaaS security posture. It gives businesses complete visibility and control over the security and compliance of their applications, thereby enabling them to address gaps before they become problems​4​. Obsidian helps discover and address vulnerabilities across SaaS applications and implements proactive measures to limit the likelihood and impact of a security incident​4​. The platform also provides a comprehensive posture score and comparisons against other environments, enabling businesses to understand and improve their SaaS security performance over time​4​.

Further, Obsidian ensures continuous compliance against internal security standards and regulatory frameworks like NIST 800-53, SOC 2, and CCM. It helps identify and promptly remediate failing security controls, thereby reducing the risk of noncompliance and facilitating trust-building with stakeholders and auditors through comprehensive, automatically generated reports​4​. Obsidian also allows businesses to limit the delegation of SaaS privileges and data access, ensuring that only those users who need access to sensitive data have it. This minimizes the risk of data breaches without disrupting business operations​4​.

In conclusion, data breaches pose a serious threat to businesses in the digital age, and no organization is immune. However, with the robust Threat Intelligence service provided by Mjolnir Security and the comprehensive security solution offered by Obsidian, businesses can significantly enhance their security posture, reduce the risk of data breaches, and ensure continuous compliance with security standards. Stay vigilant, stay secure.

Written by: Mjolnir Security

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