Industry View

Monitoring the Enemy Within: Reflections on a New Internal Data Theft Study

Who steals data, and what do they do with it? Cooper Bachman of ID Analytics scrutinizes research from a dozen data thefts resulting in 1,300 attempted instances of data misuse.

By Cooper Bachman, ID Analytics

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As opposed to applying for bank cards, the identity thieves focused primarily on targeting the wireless industry. Ninety-six percent of the applications were for wireless handsets, 68 percent of which targeted one specific carrier. This behavior suggests identity thieves may be beginning to target the wireless industry in greater volumes. Combined with the growing popularity of the handset and the ease of obtaining a phone (through contract renewals, in-store promotions, online discounts, etc), industry experts suggest this trend may continue.

Learning, Preparation & Taking Action

After assessing identity data provided by breached organizations spanning industries and sectors, this internal data theft study succeeded in providing a better understanding of the behavior associated with stolen identities and the level of risk associated with internal data theft.

Together, these findings illustrate the unique challenges faced by companies operating in a data-rich environment. Business leaders desire an unparalleled customer experience while trying to maintain the appropriate balance between data access and personal privacy. Compounded with the need to protect sensitive personal data and the rising probability of an internal data leak, reactive approaches to a breach event are becoming less feasible.

Organizations should implement internal and external mechanisms to proactively address data security needs, including ongoing monitoring that detects early evidence of misuse within customer and employee data, without interfering with daily business processes. In addition, if organizations suspect that they may already be a victim of a data breach, they must take immediate action to gauge the magnitude of the breach event. ##

Cooper Bachman is a product analyst at ID Analytics, a provider of on-demand identity intelligence solutions based in San Diego, CA.