The Date Leak- and Why is it crucial to save the data?

The Date Leak- and Why is it crucial to save the data?

The Problem

There has been constant news about data leakage from the giant online companies like Facebook and twitter. With the advancement of technologies, the online market has grown.

Every information related to human beings- like their name, address, and their entire history of being friends, chatting, shopping everything is stored online.

Identity theft is currently a gold mine for cybercriminals—one that reached an all-time high in 2016, with up to $16 billion worth of losses caused by fraud and identity theft.

Even, biometric information is also saved by the government like in India- Aadhaar.

What is the importance of data collection?

Data collection is a way to describe a process of preparing and collection data. Furthermore, data collection can be defined as an important aspect of any type of research study.

Technology is simply a tool that enables us to collect and process information faster. Gathering data and determining basic information – the who, what, when, where – is the extent to which technology can assist.

What is the importance of personal data?

Data is becoming more and more valuable. The phrase is famous- the data is new oil.

Skills and opportunities for retrieving different types of personal data are evolving extremely fast. Unauthorized, careless or ignorant processing of personal data can cause great harm to persons and to companies.

The personal data is personal, but it will impact on the fundamental rights and freedom of the individual as well. For example, incorrect processing of personal data, might bring about a situation where a person is overlooked for a job opportunity or, even worse, loses current job.

Not complying with the personal data protection regulations can lead to even harsher situations, where it’s possible to extract all the money from a person’s bank account or even cause a life-threatening situation by manipulating health information.

Data Localization

Data protection regulations are necessary for ensuring and fair and consumer friendly commerce and provision of services. Personal data protection regulations cause a situation, where, for example, personal data can’t be sold freely which means that people have a greater control over who makes them offers and what kind of offers they make.

If personal data is leaked, it can cause companies significant damage to their reputation.

The Controversy related to India

The Indian cyber security machinery, in collaboration with a self-proclaimed anonymous French security researcher who has been vocal about data security through his Twitter account, claimed to have plugged a major data leak over the course of the last nine days.

The researcher, who goes by the display name Elliot Alderson on Twitter, had on March 10 tweeted that two “Indian governmental websites” were leaking “300,000 and 5,000 documents IDs including Aadhaar cards.”

How the data can be misused?

According to experts, the most likely security risks for consumers range from the annoying (more spam in their email inboxes) to potentially much more dangerous targeted "phishing" emails, where the sender disguises himself as a trusted individual or organization in order to trick the recipient into clicking a link that will download malware onto his or her computer or into giving the sender confidential information such as a password, credit card or Social Security number.

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Personal information is the currency of the underground economy. It's literally what cybercriminals trade in. Hackers who obtain this data can sell it to a variety of buyers, including identity thieves, organized crime rings, spammers and botnet operators, who use the data to make even more money.

Data is the new Oil

Spammers, for example, might get a fresh list of email addresses to which they can send Viagra and Cialis offers. They make money (say $1 per click) off response rates or website/pop-up ad impressions. Meanwhile, identity thieves could use the email addresses to create a phishing scheme designed to trick people into giving up their bank account or credit card numbers

Some malware installs key-logging software that records usernames and passwords when they log on to their various online accounts. If one of those accounts is a bank account, cybercriminals can quickly empty it.

If cybercriminals get only the last four digits of your credit or debit card, they may be able to use it to reset your password on an ecommerce site.

Conclusion

The data has been essential to store to provide various benefits to the citizens, yet there are various incidents of data breach.

In long term that can even compromise with fundamental rights, therefore, the security remains the crucial issue. Since the international whistle-blower Snowden has emphasized on the ‘ privacy’ of individual data and how government agencies have been dealing with personal data, the issue still remains lost in shadows.