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What a Cybercriminal Does with Your Stolen Data

Cyber criminal Stolen Your Data
In 2021, Verizon found that of the almost 80,000 cybercrime incidents reported, over 5,000 of those incidents were confirmed data breaches. Data theft is a rising problem for all businesses, and as bad actors come up with new tactics, cyberattacks continue to happen more often. We all know that cyberattacks occur, but what happens after a cyber threat steals your data?

This blog explores what happens to your data once it’s in the hands of a cybercriminal. It’s important that you’re aware of the many ways data theft can impact your business. That way, you can learn where your business could improve when it comes to cybersecurity. Here are four of the most common actions taken after a cybercriminal steals your data.

1. They Sell Personal Information

One of the biggest threats to organizations is that these criminals can steal your personal information. Things such as names, addresses, phone numbers, Social Security numbers and email addresses are all fair game to be sold on the dark web. Believe it or not, the price for this sensitive information is pretty cheap. According to CompariTech, the average cost for full credentials – which includes your name, Social Security number, street address and birthday – on the dark web is $8 per record.

2. They Distribute Login Credentials

Your usernames and passwords are considered extremely valuable information for cybercriminals. Credential harvesting is when a hacker gathers a compromised user’s credentials for their benefit. IBM reported that credential harvesting made up 7% of cyberattacks in 2021. They can then use these login credentials to get into any of your accounts and steal more of your information.

3. They Commit Financial Fraud

From your credit card numbers to your PIN numbers, your financial information is the main motivation for cybercriminals. According to Verizon, around 90% of bad actors are motivated by financial gain. They can use your bank accounts to pay bills, transfer money to themselves, or perform fraudulent transactions online in your name.

4. They Target Higher Personnel

Cybercriminals can use stolen data to seriously harm your business. Commonly known as whaling, this phishing tactic is when a cybercriminal impersonates a CEO or any other high-ranking official in the company in order to steal sensitive information, money or gain access to their network. From there, they can gain access to spy and infect a network without anyone knowing. As global tensions continue to rise, it’s more important than ever to take control of your data and keep it safe. Putting steps in place to better protect your network is a great first step to safeguarding your business. If you’re not sure where to start when it comes to data protection, partner with an MSP. Kinetic Technology Group in Dallas is ready to help protect your business with the best cybersecurity tools. Our experts are here for your business 24/7 and are ready to show you how you could be better defending your business. If you want to learn more about our cybersecurity solutions, contact us today.

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Jim Harryman

Jim is the fearless leader of the Kinetic team. He founded Kinetic more than two decades ago with one simple purpose – make technology do what it promises to do. He has spent the last 25 years doing just that. Every IT system Jim mans is fully subservient to its owner. When he isn’t reveling in new technology, he spends time with his wife Julia and their two sons who are grown, married, and both expecting babies.

CJ Jackson

Meet CJ Jackson, a technical expert with 12 years in customer service and a tech journey sparked by the Apple Store Genius Bar. Recognized for patient issue resolution, CJ excels in teaching and empowering users. As Kinetic’s Configuration Specialist for 3 months, CJ is passionate about simplifying lives through tech. Beyond work, CJ explores cuisines, enjoys concerts, and embraces RomComs. The motto: Choose what’s right over what’s easy. CJ aspires to be remembered as a happy, eager, and passionate soul, inspired by daily opportunities to make a difference. Expect tech-savviness, culinary adventures, and unwavering commitment to everything done.

Julia Harryman

Julia Harryman, our resident efficiency specialist, has a unique background that is not typical of IT. Armed with a Master’s in Education for Technology Leadership, Julia has been an integral part of our team since 2012. Fueled by a constant supply of (insert current caffeinated beverage here) , she’s is a driving force behind our streamlined operations, ensuring that our company runs seamlessly.

Richie Owen

Richie Owen is an adept IT professional known for his innovative problem-solving. With a strong background in security systems for financial institutions over the past nine years, Richie excels in resolving networking and cabling challenges. Off-duty, he’s a bass-playing musician and a dirt bike enthusiast. In his six months at Kinetic, Richie has demonstrated his expertise, further supported by almost a decade of experience in low-voltage systems. He values human connections, citing music as his perpetual motivation. Richie’s love for limeade with tea and his belief that people make life meaningful reflect his distinctive character.

Chad Thorne

Chad bought his very first Mac as a senior in high school and hasn’t looked back since. To him, pushing the limit involves figuring out just how far he can push the performance on a Mac and testing his own IT knowledge and capabilities at the same time. This Cowtown native is super handy when it comes to configuring and deploying business networks and is one of 14 people on the planet who actually knows where ALL of the wires go.