Page 91 - Cyber Warnings August 2017

5 billion active accounts on Yahoo. This had huge consequences on the company
stocks, meaning that it knocked off as much as $350 million dollars from the final selling
price. This is a good example of how a hack can affect your company’s overall value.

7. Tesco Bank – Banks are one of the most predominant hack targets and it’s easy to
understand why. The case of Tesco and its online breach in 2016 was a shock to the
public. It was announced that Tesco lost over 20,000 credit card accounts to a hack that
went unexplained by the bank itself. The result was a sudden freeze of all online
operations and an official statement claiming that the bank is actively working on the
issue.

8. eBay – Targeting an online store has always been one of the favorite activities of
hackers. An attack on eBay in 2014 resulted in over 140 million users being
compromised. Their complete profile information was stolen from eBay’s servers,
including names, addresses and payment information. What happened as a result was a
huge dip in activity across the globe and a sudden drop in eBay’s own stocks. The
company is still recovering from the loss today.

9. JP Morgan Chase – As one of the largest and most trusted banks in the US, Morgan
Chase was a victim of a cyber attack in 2014. The resulting hack took information on
over 70 million American households including their personal information and payment
records. Even though JP Morgan Chase spends over $250 million on cyber security,
the hackers managed to affect over 90% of company’s servers and gain access to
privileged information.

10. Morrison’s – An unusual case of a cyber attack happened in 2014, when an inside
breach resulted in the complete online publication of employee records and payroll
information. Over 100,000 files with names and paycheck information on every
Morrison’s supermarket employee emerged online for everyone to see. The company
never disclosed if the attacker was discovered, since it’s often hard to discover who
exactly leaked that sort of information. Employees took legal action against the company
itself, pleading a breach of confidentiality.

Conclusion

As you can see, huge cyber security breaches are nothing new on the scene. The conventional
security equipment that many businesses use is often quite enough to protect most of the
valuable data.

It’s important to consider that hackers are far more likely to target a large enterprise with a lot of
undisclosed information rather than a small startup. Consider upgrading your cyber security if
you deem that the current one doesn’t fit your company’s profile.

91 Cyber Warnings E-Magazine – August 2017 Edition
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