With every passing day, we see a new technological innovation that is unveiled to combat cyber security attacks. Yet, organizations around the world face cyber security threats and breaches daily. Though these organizations spend a remarkable amount of money in developing protection tech to enhance their cybersecurity, they still get breached more often than not. The primary reason for this is that they often overlook the human aspect of security.
Human error is one of the biggest causes of cybersecurity threats. Scamsters often trick people into giving out sensitive information and access to the systems that cause much damage. Here are some shocking numbers that reveal how human error can be a costly affair. According to the IBM Cyber Security Intelligence Index Report, a staggering 95% of cybersecurity breaches are primarily caused by human error. Another Cost of a Data Breach Report 2020 by IBM reveals that the average cost of cybersecurity breaches caused by human error stands at an incredible $3.33 million.
5 Examples of Major Cyber Attacks Caused Due to Human Error
Over the years, several top-tier organizations have fallen victim to cybersecurity breaches. Here are the top 5 instances of careless human mistakes that turned out to be a very expensive affair for the company.
1. Strathmore Secondary College
In August 2018, an employee at Strathmore Secondary College mistakenly shared private records of more than 300 students over the school’s intranet, which was accessible to all the students and their parents. The records showed sensitive and clandestine details about the students with ADHD, brain injuries, Asperger’s, and Autism. Moreover, it also gave away other information about the students who were on government grants, receiving medication, and other treatments. This is a very grave example of how an ordinary human mistake compromised the security of hundreds of students.
2. Pennsylvania Department of Education
In February 2018, an employee in the Pennsylvania Education Department unknowingly caused an error that exposed the protected data of the state’s Teacher Information Management System (TIMS). This data, which held sensitive information related to teachers applying for and holding teaching certifications in Pennsylvania, was briefly accessible to anyone and everyone on the Internet. This security breach made all of the school staff, district authorities, and the Department of Education vulnerable for a moment and jeopardized the lives of more than 360,000 current and retired teachers.
3. Toyota Boshoku Corporation
Here is another example of how even some of the biggest organizations sometimes become vulnerable to human error in cyber security. In August 2019, Toyota Boshoku Corporation, a European subsidiary of the Toyota Group faced a major BEC attack that duped the company of $37.3 million. On August 14, some fraudsters tricked this auto parts supplier into making a large fund transfer into the hackers’ bank account. The scamsters sent a series of carefully crafted emails to the finance department members asking them to send the money. By the time, the company’s security experts uncovered the trap, it was too late and the massive amount of transfers to the hackers had taken place. This case emphasizes the need to train the employees when it comes to dealing with potential fraud.
4. Sequoia Capital
In February 2021, Sequoia Capital, a renowned venture capital firm in Silicon Valley fell victim to a phishing attack due to human error. The breach occurred when an employee unwittingly exposed some of the personal and financial information of its investors to a third party. Despite being a leader in energy, enterprise, finance, healthcare, mobile, and internet startups, with over 1100 corporate clients and more than 200 international clients, Sequoia Capital witnessed a notable security lapse.
5. Leoni AG
Leoni AG, a leading wire and cable manufacturer was duped for an astounding $44 million in 2016 owing to a devastating BEC attack. Cybercriminals posed as the company’s senior German executive and sent out carefully drafted emails using inside information requesting a transfer of $44 million from the company’s bank account. An unaware finance executive took the bait and made the payment. Before the security experts uncovered the scam, the scammers switched the stolen money into a different bank account in the Czech Republic. This was one of the biggest cyber frauds in recent memory.
Ways to mitigate human error and prevent cyber attacks
All the above-mentioned examples suggest that even a single unheeding human mistake can have destructive consequences for your organization. A company can invest as much as they like in adapting to new technological security solutions. Still, unless the human error is corrected, it will always be exposed to vulnerability in cybersecurity threats. The only way to make sure the defenses are airtight is to train the employees to be prepared for every worst situation.
Making your employees cyber-resilient is the only way to ensure the safety of your organization amidst rising cybercrimes. Implement a robust cybersecurity training program to educate your employees on various cybersecurity topics to help them understand the cybersecurity basics. This training will make the employees more vigilant and efficient in tackling cybersecurity attacks. This training will help spread cyber security awareness on cyber security tools and cyber security information, including cyber security news.
Implementing cyber security risk management in the organization by introducing a cyber security policy will help meet cyber security standards by implementing cyber security software from a wide range of cyber security tools list.
How can 2B Innovations help?
With the rise of cyber security risk in the current world, it is essential to opt for cyber security cyber security management. 2B Innovations, a group incorporated in Dubai UAE and spread its wings across the UK, India, and Southeast Asia offers a gamut of technology services to all scales of enterprises. 2B offers a wide range of services, taking care of all your tech-related issues, starting from cyber security services and cloud/traditional enterprise services to talent acquisition, marketing, training, CSR, and a lot more.
2B Innovations will help you with top-notch cyber security solutions, their team of cyber security experts with thorough knowledge of cyber security fundamentals will leave no stone unturned in the scope of cyber security. Partner with 2B Innovations today to mitigate the risk in cyber security combat cyber security shortage and protect your privacy.
