The dangers of storing vulnerable data online.

Data online can also be stolen. Nothing is safe online. Image from Arvig.

In today’s digital age, storing sensitive data online has become increasingly common, but it comes with significant risks. From social security numbers and financial records to personal health information and intellectual property, vulnerable data can be a goldmine for hackers and cybercriminals, who can use it for identity theft, financial fraud, or corporate espionage. As such, the risks associated with storing vulnerable data online far outweigh the potential benefits, making it essential for individuals and businesses to take proactive measures to safeguard sensitive information and avoid online storage whenever possible. In this article, we will examine why you should never store vulnerable data online and explore the steps you can take to protect your sensitive information.

Cyber Attacks

Cyber attacks are one of the most significant risks associated with storing vulnerable data online. Cybercriminals use various methods, such as malware, phishing scams, and carding fraud, to exploit data for personal gain. Once they have gained access to your data, they can use it to steal your identity, commit fraud, or blackmail you.

Cyber attacks can result in the loss of valuable data, financial losses, and reputational damage for individuals and businesses alike. Legal action may also follow, which can be time-consuming and costly. A recent example of this is the cyberattack on Arnold Clark in the recent month. The car retailer, which sells more than 300,000 cars per year, said data that may have been stolen included bank details and ID documents. Though it may seem like this problem only applies to businesses, you have actually been exposed to some form of cyberattacks, such as scam calling. You may think that those scam calls are so obvious that no one would fall for it, but 1 in 3 Americans (33%) report having ever fallen victim to phone scams, with 20% more than once.

Source: Truecaller Insights/Harris Poll

Data Breaches

Data breaches occur when an organization’s database is compromised, and sensitive information is leaked. This can happen due to human error, system failures, or malicious attacks. Once the data is leaked, it can be used for identity theft or fraud. In addition, data breaches can also damage a company’s reputation and lead to costly legal action. Data breaches cost companies $4.24 million per incident, according to IBM’s cost of data breach study. On the higher end, so-called mega breaches involving 50 to 65 million records cost exponentially more, with average costs reaching $400 million. Data breaches can be extremely damaging to both individuals and businesses. They can result in the loss of sensitive data, reputational damage, and financial losses. In 2017, Equifax, a credit reporting agency, suffered a data breach that exposed the personal information of approximately 147 million consumers. This breach included names, birthdates, Social Security numbers, and other sensitive information. The breach was caused by a vulnerability in the company’s website software, which was not patched in a timely manner.Data breaches only apply to companies and businesses, however, its consequences also apply to individuals and it shows that we cannot trust anything out there to protect our data.

Inadequate Security Measures

Despite the risks, many individuals and companies store sensitive data online without implementing adequate security measures. This can include using weak passwords, leaving data unencrypted, and failing to keep software and systems up-to-date. Such security lapses can leave data vulnerable to cyber attacks, making it easy for hackers to access and steal sensitive information. In addition, inadequate security measures can also result in authorized employees within a company gaining access to data they shouldn’t be able to view. It’s worth noting that this problem isn’t only limited to us individuals using weak passwords, as some companies may struggle to implement good security measures.

Lack of Privacy

Storing vulnerable data online also means sacrificing privacy. Companies that store your data can access and use it for their own purposes. This can include targeted advertising, data analysis, and other uses that you may not be comfortable with. In addition, governments and other organizations can also request access to your data, potentially violating your privacy rights. Like Donovan has learned studying the internet over the last decade: everything open will be exploited.

Lack of privacy can be a significant concern for individuals and businesses. It can result in unwanted marketing messages, reputational damage, and legal action. It can also lead to personal information being shared without your consent.

Data Loss

Finally, storing vulnerable data online puts you at risk of data loss. This can occur due to system failures, human error, or malicious attacks. If you do not have a backup of your data, you may lose it permanently. This can be catastrophic, especially if the data is essential for your business or personal life.

How to Protect Your Sensitive Data

Given the risks of storing vulnerable data online, it is essential to take steps to protect your sensitive information. Here are some practical measures you can take:

1. Use Strong and Unique Passwords: One of the most common ways that hackers gain access to sensitive information is by guessing passwords. To protect your data, it’s essential to use strong and unique passwords that are not easily guessed. Make sure that your passwords are at least 12 characters long and include a combination of letters, numbers, and symbols. You may think that this is annoying when you come across these requirements trying to register for an account, but the company is just trying to help you protect your information.
2. Enable Two-Factor Authentication: Two-factor authentication adds an extra layer of security to your online accounts. With two-factor authentication, you need to provide a second form of identification, such as a fingerprint or a code sent to your phone, in addition to your password. This makes it much more difficult for hackers to gain access to your accounts.
3. Encrypt Your Data: Encryption is a process of converting your data into a code that is unreadable to anyone who doesn’t have the encryption key. This makes it much more difficult for hackers to read your data if they gain access to it. You can use encryption tools to protect your data stored on your devices, cloud storage, or email.
4. Keep Software and Systems Up-to-Date: Hackers often exploit vulnerabilities in outdated software and systems. To minimize the risk of being hacked, it is essential to keep your software and systems up-to-date. Make sure to install the latest updates and patches as soon as they become available.
5. Avoid Public Wi-Fi Networks: Who doesn’t love free Wi-Fi when going out? However, public Wi-Fi networks are not secure, and anyone on the same network can potentially see the data transmitted over it. It’s fine to use public Wi-Fi networks if you’re just looking something up or playing games, but avoid using public Wi-Fi networks to access or transmit sensitive information. If you must use public Wi-Fi, use a virtual private network (VPN) to encrypt your data.
6. Use Cloud Storage with Caution: Cloud storage is convenient, but it comes with risks. When using cloud storage, make sure to choose a reputable provider that uses encryption and has strong security measures in place. Consider encrypting your data before uploading it to the cloud to add an extra layer of protection.
7. Be Cautious of Phishing Scams: Phishing scams are a common way that hackers try to steal sensitive information. Phishing scams typically involve an email or message that appears to be from a trusted source, such as a bank or a government agency, asking for personal or sensitive information. Be cautious of any unsolicited messages or emails, and never provide sensitive information unless you are certain of the sender’s identity.
8. Backup Your Data: Even with the best security measures in place, there is always a risk of data loss due to hardware failure, theft, or natural disasters. Regularly back up your data to an external hard drive, cloud storage, or other secure locations to ensure that you can recover it in case of any data loss event.

In conclusion, the potential benefits of storing vulnerable data online do not outweigh the significant risks that come with it. Whether you are an individual or a business, taking proactive measures to safeguard your sensitive information is crucial in today’s digital landscape. It is not enough to rely on password protections and firewalls alone. Cyber threats continue to evolve, and so must our defenses against them. By avoiding online storage whenever possible and implementing a multi-layered security approach, you can significantly reduce the likelihood of a data breach. This may include utilizing encryption, implementing strong passwords and multi-factor authentication, keeping software and systems up-to-date, and avoiding public Wi-Fi networks. While these measures may require additional effort and investment, the consequences of a data breach can be catastrophic, leading to financial losses, reputational damage, and legal implications. Ultimately, protecting sensitive information should be a top priority for individuals and businesses alike. By staying informed and taking action, we can minimize the risks of storing vulnerable data online and ensure the safety of our valuable information.