Risks and consequences

Data breaches happen every day. In 2019 alone 4,1 billion records were exposed internationally. On top of that one must consider all the stolen personal data already circulating in shady areas of the internet, giving anyone with the right knowledge and tools the means to steal someone else’s identity or commit other malicious acts. Therefore, it is not that surprising that as many as 1 out of 3 claimed to have been the victim of cybercrime in a recent global study.

The threat doesn't disappear when logging out

Antivirus software is not enough

Targeting a company with large databases is more rewarding in the long run than targeting an individual. This is due to the hundreds of thousands of credentials and other personal data that the cybercriminals can obtain from one single successful attack.

Furthermore, most people today save their important documents in the cloud, not directly on their computer. Consequently, if a company suffers from an attack, you risk becoming a victim as well since this personal data is later exploited with criminal intent In other words: antivirus software cannot help the individual from getting their personal data stolen if they are not the target in the first place.

Functioning in today's society without submitting personal information through digital services is close to impossible. We use these services virtually all the time in our everyday life. We use them when we shop, before and when we travel, when we work or study, when we play games and watch TV etc. Once we logout or turn off our computer our submitted data will still be on the company’s servers, open for attacks. Given that even company’s like Facebook and Google have been breached – who have vast resources and technology to their disposal – one simply must assume that no company is 100% safe.

The consequences for the individual

Financial

In case you are the victim of identity theft you might be billed for goods, services or loans that are purchased or taken in your name but delivered elsewhere. If you, as the victim, have a hard time proving that you are not the buyer it can lead to payment claims that end up in debt collection.

Emotional

The emotional aspect is also important. Being locked out of an account, knowing that someone else has access to it, is enough to cause stress and frustration. If the criminal threatens to delete personal documents or distribute and post them publicly it can be even worse.

Reputational

With access to your private accounts such as e-mail, social media, dating sites and phone book, the perpetrator can pretend to be you and damage your reputation through various publications. But also by trying to take advantage of your friends by asking them to lend money or other information in the belief that they are communicating with you.

Time

Just finding out the extent of the damage takes a long time and usually requires special knowledge to succeed. Challenging unjustified claims could be difficult and does not guarantee that the claims will be revoked. The burden of proof is extensive. Furthermore, you will often also need to spend time and effort on trying to recover information and notify friends etc.