• UKFast looks back at 2018’s biggest data breaches

        • Throughout 2018, British firms have faced an increase in both the volume and sophistication of cyber-attacks. Reflecting on the evolution of threats over the year, cybersecurity experts convened at an event at UKFast in Manchester to analyse the year’s biggest breaches and discuss what UK businesses can learn from them.

          Morrison’s

          Insider threats are the most prevalent type of attack facing businesses today, experts say.

          In November 2018, Morrison’s supermarket chain was ruled vicariously liable for the breach of nearly 100,000 employees’ personal data, leaked three years before by a disgruntled worker.

          Annabelle Gold-Caution, Associate at European law firm Fieldfisher said, “the risk of business owners being held responsible for data breaches caused by employees must be considered in security policies, and mitigated by implementing strong data access permissions.”

          Experts recommend that business owners implement policies which allow access to company data on a ‘least-privilege’ basis, cutting the number of people with access to critical data and reducing the risk of unauthorised data sharing.

          Facebook

          Reputational damage is a serious side effect suffered by many attacked organisations. Facebook reported two major data breaches in 2018 caused by exploited network vulnerabilities.

          The firm’s reputation has suffered irreparable damage as a result, with one in 20 Brits, and millions across the globe, reported to have deleted their accounts after the second breach was publicised.

          Paul Mason, IT Security, Education and Training Specialist at Secarma said, “when news of the second Facebook data breach came to light the company’s stock price fell 6 per cent in just two hours.”

          Although data can be retrieved with good disaster recovery strategies, reputations may not be as easily recovered. Businesses must keep networks up to date, patched and regularly tested to stay one step ahead of those willing to take advantage. 

          Lloyds TSB

          Showing that not all breaches are down to hackers, Paul also reflected on the Lloyds TSB case from April 2018, where TSB failed to securely move their banking app from one system to another.

          The transition prevented many users from accessing their own accounts and many were able to see details of other users’ accounts. As a result, leaked data was exploited by fraudsters posing as TSB investigators, with some TSB customers scammed out of £30,000.

          He added, “it’s not just leaked data that breaches GDPR legislation; Lloyds failed to provide their consumers with three basic data rights: availability, integrity and confidentiality. Businesses must ensure they’re protecting the data rights of their consumers at all times or face potential fines.”

          The extent of fines issued to the bank under GDPR legislation is yet to be confirmed.

          We will no doubt see a continued stream of high-profile cyber-attacks and data breaches in 2019. Will businesses learn from the misfortunes of companies in the public eye throughout 2018? Only time will tell.

          To find out when the next UKFast webinar is coming up, click here.

        • Stay up to date - Click here and register for FREE Channel Info online membership and enjoy unlimited access to a host of benefits including the exclusive members area of the website, downloadable business tools, current and back issues archive, priority breaking news alerts, weekly e news summary and the Channel Info app

        • Related Articles

        • Channel reveals high vote of confidence for the future

          Channel reveals high vote of confidence for the future

          Monday 26th Apr 2021
          New research released by Agilitas IT Solutions has revealed that optimism and confidence in the future of the channel remain high despite a challenging year, as decision-makers give an overall confidence score of 7.4 out of a possible ...Read More...
          EPOS announces new Intelligent speaker for Microsoft Teams Rooms

          EPOS announces new Intelligent speaker for Microsoft Teams Rooms

          Thursday 25th Mar 2021
          The premium audio brand, EPOS – part of the Demant Group – has announced the launch of EXPAND Capture 5, a new Intelligent speaker for Microsoft Teams Rooms that will enable professionals to meet the reality of the hybrid w...Read More...
          Mitel appoints new Chief Information Security Officer

          Mitel appoints new Chief Information Security Officer

          Monday 22nd Mar 2021
          Mitel has announced the appointment of Arvind Raman as Chief Information Security Officer (CISO). Arvind will lead all aspects of the company’s information security strategy, architecture, operations and gover...Read More...
                • About Us

                  Channel Info is the leading source of business news and information for the office dealer and reseller market. Our multi-platform approach delivers relevant, engaging and focussed content via our main printed magazine, supplements, website, digital editions, apps, newsletters and bespoke communications with an unrivalled reach across the industry. A highly trusted and respected brand for many years, the team behind Channel Info has over 60 years experience collectively in the office products, furniture, equipment and technology markets Channel Info continues to develop and adapt in order to meet the changing information needs of its readers.

                  For our latest Media packs and more details on our range of services click here

                • View Latest Issue