The availability of online information presents numerous opportunities, but it also presents significant risks. Bad actors have successfully breached the digital security of companies that were supposed to be secure, gaining access to sensitive personal information that customers trusted these businesses to protect.
Companies handling private information must implement stringent measures to safeguard data and be held accountable when they fail to prevent breaches. The Lanier Law Firm is pursuing data breach litigation to help victims recover compensation and ensure companies take adequate steps to protect Personally Identifiable Information (PII), preventing future data breaches.
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What Are Data Breach Lawsuits?
Data breaches occur when an unauthorized party gains access to sensitive information by exploiting vulnerabilities in a company’s cybersecurity measures. As these incidents become more common, victims have had increased success in recovering compensation for damages associated with the exposure of their data.
Damages available in data breach litigation can include compensation for the financial consequences, such as unauthorized bank or credit card charges, a lowered credit score, and lost business opportunities. Damages might also include the expenses of addressing the breach, such as the costs of credit monitoring subscriptions.
How Are Data Breaches Committed?
Cybercriminals have a variety of tactics and methods for circumventing data security measures, including the following:
- Malware is malicious software, such as viruses, that can compromise a computer system and access or alter data.
- Ransomware is malware that prevents a party from accessing its own data or computer systems, essentially holding that access hostage in exchange for a ransom payment.
- Phishing involves sending fraudulent messages disguised as from a legitimate source, such as a contractor, vendor, or superior. Phishing emails aim to convince employees to click on links containing malware or provide sensitive information to the sender, potentially compromising the company’s cybersecurity.
- Insider threats are individuals within an organization who exploit their access to sensitive data or cybersecurity systems to commit a data breach.
- Software Vulnerabilities: Companies rely on software and applications, which may contain bugs or vulnerabilities. Cybercriminals often exploit these flaws, known as zero-day vulnerabilities, to infiltrate systems and access protected data before the flaw is patched.
- Third-party Vendor Weaknesses: Data breaches can also occur when third-party vendors that businesses work with have insufficient security measures. These vendors may be entrusted with sensitive data but fail to protect it adequately, leading to breaches.
What Types of Companies Are Most Commonly Targeted for Cyberattacks?
The list of major companies that have suffered significant data breaches is long and continues to grow daily, with Yahoo, Equifax, Facebook, AT&T, T-Mobile, and more failing to prevent access to sensitive customer information.
Health care providers, retail companies, financial institutions, and government entities all maintain vast amounts of sensitive personal information that make them appealing targets to cybercriminals, including medical records, payment information, social security numbers, account details, and more.
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