Skip to main content

5 Reasons Hackers Steal Your Data

13 March, 2020

As IT professionals, we have witnessed the risks and dangers that exist on the web, particularly for businesses. It’s important to delve into the motivations behind these attacks to better understand why hackers engage in such activities. In this blog, we will explore the reasons behind their actions and shed light on their motives.

Identity Theft

Contrary to popular belief, individuals and companies hold significant value beyond their financial assets. Hackers may use personal information, such as credit card numbers and account credentials, to commit identity theft. The average loss for victims of credit card fraud was approximately $2000 last year. However, the potential impact could be much greater, especially for businesses whose credit cards are compromised or when unauthorized accounts and loans are opened under their name.

Ransomware Attacks

Ransomware attacks have become a prevalent threat in recent years, affecting organizations of all sizes, as well as individuals and government entities. Hackers target victims who are likely to pay a ransom, as organizations cannot afford prolonged disruption to their operations. While there has been a slight decline in overall ransomware attacks, hackers have become more sophisticated and demand higher amounts to release encrypted data or systems.

Exploiting Computing Power

Hackers with limited resources often seek to exploit others’ computing power for their own benefit. They target large servers with significant processing capabilities to engage in activities like Bitcoin mining. Unfortunately, the owners of these systems are left with the consequences, including increased electricity usage and costs.

Malicious Intent

Some hackers engage in malicious activities simply because they can. These individuals, driven by personal accomplishments rather than financial gain, can be particularly challenging to apprehend and discourage. Their motives align with Alfred’s statement in The Dark Knight: “Some men aren’t looking for anything logical like money… some men just want to watch the world burn.” While not the most common type of hacker, they can pose significant threats.

Data Sale on the Dark Web

The value of personal information has surged in today’s era, where information is considered a currency. Once hackers obtain data such as credit card numbers, passwords, or patient records, they sell this information on the Dark Web. To make it profitable, they seek volume, targeting businesses with access to customers’ records. Reports indicate that credit card numbers fetch approximately $10 each on the black market. The exposure of stolen data can lead to severe consequences, as businesses face legal repercussions and potential damages when client information becomes available for purchase.

Regardless of hackers’ motives, it is our responsibility to protect the data entrusted to us. Strengthening our security measures and staying ahead of these criminals is crucial. If you feel that your current security setup may be insufficient, we encourage you to reach out to us. We are ready to assess your system and assist in implementing a robust plan to safeguard your business from these threats.

13 March, 2020