If you're a business, there's a target on your back, or your data to be more precise. Cyber criminals have developed a lucrative, black market enterprise that will rival some major companies when it comes to valuing information that's been hacked from legitimate sources.
Hardly a week goes by without a release about a high-profile cyber attack against a company. At a presentation entitled, "Hacked: The Realities of a Cyber Event" hosted by Travelers in Washington, D.C., recently, a panel of experts discussed the impact of cyber crime on small to medium-sized businesses. "One in two companies report being the target of a cyber attack," stated Tim Francis, enterprise leader for cyber insurance for Travelers. "Sixty percent of attacks last year struck small to medium-sized businesses." He said there are 34,529 known computer incidents each day and the goal for the bad guys is to "make money as easily as possible."
All of the information stolen has value on the Dark Web, where names, social security numbers, credit cards and other data are available for sale. Credit cards can be purchased for $10 to $35 per name. Social security numbers are worth significantly more because they can allow users to open bank accounts, credit cards, rent apartments and basically create a new identity.
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