What It called as Digital transmission or Digital Transformation?
Someone has collected data for the years of their efforts and the hackers easily hack the database and keep quit for months, then they sell to the competitors or new business units, who want to offer exactly same or something better than the existing players stolen database. Ii is very difficult for the security and enforcement agencies to establish the fact of gathering customer’s data.
Secondly, through big data analytics, you redesign the stolen database from big data to simple data, that what probably happens with the recent hospital database stolen in Singapore hospital and hackers breached the network at, one of the largest diagnostic blood testing laboratories in the US, LabCorp - fears of exposing MILLIONS of patients' private medical records. The company headquartered in Burlington, North Carolina and operates the National Genetics Institute in Los Angeles, with a wider network of 36 primary labs across the country. LabCorp has a $10 billion plus annual turnover, also provides testing in Puerto Rico and outside the US, in three Canadian provinces.
The entire computer network of LabCorp, a Fortune 500 company, fears of a major cyber security breach, then it was shut down across the US ,on one Sunday morning and hackers tried to access the private medical records of millions of people and the company insists there is 'no evidence' of 'unauthorized transfer or misuse of data' . LabCorp's computer system was shutdown immediately after IT staff discovered it had been hacked. There is proof of misusing of the data, the company claims.
On its website LabCorp makes a promise to protect the private medical information of its patients. Hope, the hackers will not alter the data of the patient’s data collected. A question arises if the hackers can collect the data from the server, can they alter the database too. If it so ,then it is very dangerous. It is always advisable to have the physical copy of the each persons medical record, then if they require the doctors in the hospital can evaluate in the repository of the database.
The firm also states it is required to notify patients of any data breach within 60 days after discovery of the breach. In a statement from LabCorp, the company said: 'During the weekend of July 14, 2018, LabCorp detected suspicious activity on its information technology network. LabCorp immediately took certain systems offline as part of its comprehensive response to contain the activity.
This temporarily affected test processing and customer access to test results on or over the weekend. The firm said customers of LabCorp Diagnostics may experience brief delays in receiving results. 'At this time, there is no evidence of unauthorized transfer or misuse of data.
Meanwhile, cybersecurity vendors have warned that the compromised data may find its way on the Dark Web. The data stolen in this breach is an identity thief's goldmine. It's a startling reminder to all patients that there is no such thing as cyberattackers would never care about whose data is.Anyone affected in this breach has no choice but to assume that their personal information will end up for sale in the cyber underground, ready for active abuse by cybercrooks.
On the Dark Web, such data can fetch a high price, and it could be sold between $50 to $100 higher than stolen credit card data. It could take months ,to make the dust to settle down, after an attack before the first set of compromised data made its way on the black market to be sold, then used by many vendors for their commercial usage.
A report by IBM says, average total costs of a data breach also varied heavily between countries with the United States the hardest hit. In 2018, an average incident costs U.S. firms $7.91 million while in Canada and Germany, the impact is lower at less than $5 million. Indian and Brazilian companies have the lowest average cost of a data breach at $1.77 million and $1.24 million respectively.
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