Number of data breach increases by 1,000% in Q2 2024

The Identity Theft Resource Center (ITRC) reported a staggering 1,041,312,601 data breach victims in Q2 2024, reflecting an alarming increase of 1,170% compared to Q2 2023, which saw 81,958,874 victims.

The ITRC is a national non-profit organization set up with the goal of minimizing the risk and mitigating the impact of identity compromise. Through public and private support, it provides no-cost victim assistance and consumer education.

The vast majority of that rise in numbers in due to a few very large compromises. The ITRC mentions Prudential (2.5 million people) and Infosys McCamish Systems (6 million people) as main contributors.

The dramatic rise in data breach victims reported by the Identity Theft Resource Center in Q2 2024 serves as a stark reminder of the growing threat of identity theft. Major breaches at organizations like Prudential and Infosys McCamish Systems have significantly contributed to these alarming statistics.

Almost 90% of the compromises in H1 2024 are due to data breaches. Financial services had the most breaches, followed by healthcare. A report revels, 80 supply chain attacks accounted for 446 affected entities and over 10 million victims.

Most of the data breaches are not the result of negligence but of targeted cyberattacks. This explains the rising demand for data deletion services. Not only does it play a significant role in safeguarding privacy rights on the business side, it also helps avoid or lessen the legal consequences of a breach.

Check the vendor’s advice. Every breach is different, so check with the vendor to find out what’s happened and follow any specific advice they offer.
Change your password. You can make a stolen password useless to thieves by changing it. Choose a strong password that you don’t use for anything else. Better yet, let a password manager choose one for you.

Enable two-factor authentication (2FA). If you can, use a FIDO2-compliant hardware key, laptop or phone as your second factor. Some forms of two-factor authentication (2FA) can be phished just as easily as a password. 2FA that relies on a FIDO2 device can’t be phished.

Moving forward, by taking these proactive measures, you can significantly reduce the risk of identity theft and protect your personal information online. Avoid storing card details on websites, set up identity monitoring, and follow best practices for online security to safeguard your identity in the digital age.