AmIBreached 3.0 accesses 150 billion records to find data breaches
AI-based monitoring programs may prevent or mitigate the losses facing cyber insurers and policyholders in the coming years.
Strong cybersecurity and ongoing cybersecurity training are increasingly crucial for insurers and policyholders, and a big part of the process is knowing when company or personal accounts have been compromised. Cyble, a cybersecurity leader in advanced AI and machine learning, relaunched its AmIBreached program in April 2024 to give consumers the ability to detect and mitigate risks involving the dark web, such as data sharing. The AmIBreached update aims to address an urgent need as cyber threats worsen worldwide.
“By leveraging AmIBreached 3.0’s advanced capabilities, consumers can proactively identify and neutralize cyber risks before they escalate into full-fledged security breaches,” said Manish Chachada, co-founder and COO of Cyble, in a release.
150 billion records
AmIBreached is an extensive monitoring program that can access over 150 billion records obtained from various cyberattacks and breaches, hacking events and indexed conversations. Organizations using the program are given unparalleled visibility in the dark web, allowing companies, including insurers, to identify potential threats early and address vulnerabilities in their cybersecurity to prevent or mitigate damage from a cyberattack.
The AI-based monitoring program works in real time, enabling insurers and business owners to see cyber threats as they emerge and enact proactive measures to stop them. AmIBreached is helping organizations tailor their cybersecurity to their specific needs based on the data provided.
“Looking ahead, you’re going to need a little bit more AI capabilities to aid in that speed, to provide that opportunity to say, ‘Hey, in 48 hours, we’ve identified who, what, where, when, why and how.’ Whereas that right now, may take more than 48 hours to even identify,” said Dara Gibson, senior manager at Optiv, which offers cybersecurity advisory services.
Mitigating cyber losses
Over 37 billion personal records were exposed in data breaches in 2020 alone, according to Security.org. One in six businesses targeted by cyberattacks in 2020 faced ransomware, and about half of these companies paid the demanded amount, making it a lucrative cyber threat and increasing insurance losses. Cyble is one of several companies at the forefront of cybersecurity that may offer insurers a leg-up in mitigating cyberattack-related losses.
Cyber insurance is expected to become a $20 billion industry by 2025. AI-based monitoring programs, such as AmIBreached, may prevent or decrease the losses facing cyber insurers and policyholders in the coming years.
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