Just when you
think cybercriminals will run out of new ideas for how to scam people, they
find a way to get creative and surprise you. Now they're faking data breaches,
hoping to steal money from unsuspecting business owners and dark web data
buyers alike.
Earlier this
year, Europcar, an international car rental company from France, discovered a
cybercriminal selling private information about its 50 million+ customers on
the dark web. The car rental company immediately launched a formal
investigation, only to find that the data being sold was fake. The information
was falsified, most likely done with the help of generative AI.
How
Did They Do It?
With AI-powered
tools like ChatGPT, it's easy for cybercriminals to generate realistic-looking
data sets quickly. Smart cybercriminals do their research and design data sets
that look complete, with correctly formatted names, addresses and e-mails, and
can even include local phone numbers to match. They will also leverage online data generators that can quickly create large, fake data sets
designed for software-testing purposes to develop authentic-looking data sets.
Once they have these, hackers choose the target they claim to have stolen the
data from and post the information on the dark web.
Why
Are They Doing It?
Why would a hacker fake a data breach?
There are a couple of reasons, besides reaping the same benefits without the
work of hacking a network's security system.
- Creating Distractions. One of the best ways to get a company to
let down its defenses is to focus on something else, like finding a breach
in its system. The company will be so intent on finding where a hacker was
already able to get into its network that it will likely miss an attack
from a different angle.
- Bolstering
Their Reputation. Reputation is highly valued
within the hacker community. Targeting a well-known brand publicly is a
way for them to earn notoriety and get noticed by other hacker groups.
- Manipulating
Stock Prices. For publicly traded companies, a
data breach can cause a rapid 3% to 5% (or more) drop in the stock. This
can cause widespread panic, allowing cybercriminals to manipulate stocks
for financial gain.
- Learning Security Systems. Faking a data
breach can allow cybercriminals to gain insight into the company's
security processes to prevent, detect and resolve attacks. Knowing threat
response time and security capabilities can help them fine-tune their
attack strategy.
Why Is This
Bad For Businesses If The Data Is Fake?
By the time the
public is made aware that the information is fake, the damage is already done.
For example, in September 2023, Sony was targeted by a ransomware group that
announced it had breached the company's network and acquired its data. The
breach was all over the news, where reporters repeatedly dragged Sony's brand
through the dirt, and by the time the investigation concluded that the hacker's
claim was false, irreparable damage had been done to their name.
What Can You
Do To Prevent Fake Data Breaches?
If you want to avoid being the victim of
a fake data breach, these are good steps to follow:
- Actively Monitor The Dark Web. You or your cybersecurity team should routinely monitor the dark
web. If you encounter an attacker selling your data, investigate the claim
immediately to prevent extensive damage.
- Have A Disaster Recovery Plan In Place. Don't let your team wonder what they
should say if a data breach occurs. This communication plan needs to be
developed in advance and fine-tuned if or when a breach occurs.
- Work With A Qualified Professional. You are in business to do what you love
to do, not deal with IT-related issues. Working with a cybersecurity
expert who knows what to look for, how to resolve issues and how to
prevent breaches takes tasks off your plate and gives you peace of mind,
and will make sure #1 and #2 are taken care of.
Data breaches can
create enormous problems for your organization. Get ahead of the issue and have
someone proactively monitor your network and the dark web to keep you secure.
If you want a no-obligation, third-party opinion on whether or not your network
is vulnerable to an attack or properly secured, we're happy to provide one!
Contact us today!
