In these modern times, technology has quite noticeably reconstructed the way we work, especially the way we are buying and selling products online through the Internet. The underlying question remains unanswered, which is whether or not customer information is actually safe online?
In addition to almost an endless source of information, we are able to shop online, and even later pay money for those products while choosing from a number of online payment options mainly –
Visa, MasterCard, Skrill, PayPal, Payoneer, and today we also have different cryptocurrencies such as Bitcoin.
With so many payment options available, the cash flow of online trades has been streamlined to reduce inefficiency while improving the convenience factor equally.
Unfortunately, when more than 145 million customer information was compromised due to the eBay hack, the “.com” bubble burst once again as investors folded out. Even worse, the authority at eBay realized the breach 4 months later, which took another month to encourage their users to change their password and other crucial data.
Do you know that Bangladesh will soon fall under the list of the cashless economy?
This breach in security compromised data related to the following:
Date of birth, credit and/or debit card password, home address, and cell phone number
Another successful operation fell victim that lost more than 100 million debit and credit card information of Target and Home Depot customers. Book2park.com is a renowned website in America for people seeking suitable parking spots.
After a new batch of credit and debit cards were put up on sale on Rescator.com, a cybercrime bazaar; the majority of those stolen cards all followed a pattern, which was that the respective holders of each card had also booked an airport parking reservation with Book2park.com.
The owner of the website was later contacted, who simply stated that he had no idea regarding any breach but their system revealed data removal off their back-end to preserve security. Reports showed that most of those cards were later sold at higher prices ranging from $12 to $18.
The retail giant of the national boundary Target had announced a breach in their website as hackers who stole vital information of 70 million users!
- The list of data included – email address, home address, PayPal password, and date of birth.
Likewise, the account owners failed to realize the violation of privacy beforehand, thus, 40 million credit and debit card information was stolen overnight. Target later sent emails to those individual customers elaborating on tips to successfully protect their personal data. The chairman had apologized to the customers and even now, no details concerning the hack are revealed yet.
Subsequently, there was another giant retailer called Neiman Marcus from which more than 350,000 credit card information was stolen with more than 9000 cards that were used by numerous third parties ever since the attack.
The hackers got away easily by inventing sophisticated codes and programming languages that prevented the store employees and other officials from being aware of such a breach.
Secondly, there was Michaels another retailer that was attacked between May 2013 and January 2014.
During that time, more than 2.6 million customers were drained off and the hackers primarily attacked the retailer’s POS system in order to gain access to private information of customers.
Moreover, Yahoo communications website was also hacked in January for 273 million users. However, to this day nothing was ever mentioned to the public regarding such activities.
It was found out that the American communications company AT&T was remained compromised for two long weeks by an internal employee who had access to all the personal information of their customers, including their social security number in April 2014.
On top of this, Google the search engine also suffered massive loss after 5 million Gmail users lost their passwords and accounts during the same year.
Hackers not only hacked online stores and communications company, but also defense industries.
Between 2009 and 2013, a 49-year-old Asian Su Bin was charged for hacking of the defense company Boeing.
There were two more hackers that worked alongside Su-Bin and their main motive was to steal defense plans and blueprints for constructing F-35 and F-22 fighter planes!
Besides, there was another invasion into Apple’s online data storage, as a result, private pictures of celebrities were leaked online. However, nobody knew who was at fault, the employees or the users themselves.
Prevention Measures including protecting your WiFi.
It was found that cyber attacks are increasingly becoming common; hence, strengthening the security of personal information to prevent our data from falling in the wrong hands is now crucial.
Hackers are frequently creating malware and other viruses to gain unauthorized access to communications, defense, retail and industrial companies. The Congress must pass legislative laws to guarantee:
Build a safe environment for sharing personal information:
Congress must form a secure environment in which users can share personal information about themselves by maintaining discretion similar to government agencies.
Sharing personal information social media must be avoided to prevent possible breaches.
Coordinate with foreign partners:
All the international bodies and foreign countries must learn to work interdependently to ensure maximum as well as impenetrable security for protecting data.
Since the internet connects millions of users worldwide, great minds must collaborate to construct the best online secured payment gateways.
More Cyber Insurance:
Since data breach is becoming common there are insurance companies ready to back up online businesses during the crisis.
All the leading countries of the world are improving their insurance market against hacking and other security issues involving the internet.
Continuously updating Operating System:
Hackers seek for the most vulnerable aspects of your system to gain unauthorized access. Therefore, keep your system updated in order to prevent such access.
Make sure your Firewall is up and working:
It is highly recommended that you put up a firewall to protect your system to ward off unauthorized access into your system. This further prevents viruses and other malware from affecting your trade.
Changing the password often:
Change your password once in a while, and most importantly, activate the double-verification feature from settings.
Make sure you have at least one digit, one capital letter and a mathematical symbol such as (*, #, or @) in your password for maximum protection, also, avoid ending your password with digits.
A sudden surge of online crime rate has put businesses and consumers in grave peril equally. It is also the government’s responsibility to assure them improved security while preserving their private and vital information from disclosure; hence, the latest GDPR rights.
In this century with rising cybersecurity issues, everyone must work together by finding and inventing new methods for curing this issue. However, the government must not introduce new laws for inhibiting the growth of business; rather they must work out new and effective ways to help individuals and businesses.