- According to the Identity Theft Resource Center’s (ITRC) First Half 2021 Data Breach Analysis, data compromises are up 38 percent over the first quarter of 2021. If this trend from the data breach statistics continues, 2021 will set an all-time high for data compromises.
- While data compromises are up, the number of individuals impacted is down 20 percent quarter-over-quarter. If the current trajectory holds, 2021 will see the fewest number of impacted individuals since 2016.
- Phishing and Ransomware remain the top two root causes of data compromises for the second quarter and the first half of the year. However, supply chain attacks continue to increase in volume, scale and complexity.
- To learn about recent data breaches, or to see the ITRC’s data breach statistics in our latest report, consumers and businesses should visit the ITRC’s data breach tracking tool, notified.
- For more information, or if someone believes they are the victim of identity theft, consumers can contact the ITRC toll-free at 888.400.5530 or via live-chat on the company website www.idtheftcenter.org.
First Half 2021
Welcome to the Identity Theft Resource Center’s (ITRC) Weekly Breach Breakdown for July 9, 2021. Our podcast is possible thanks to support from Experian. Each week we look at the most recent events and trends related to data security and privacy. This week we look at the ITRC’s data breach statistics and trends for the second quarter of this year and what they tell us about how we may end 2021.
How the ITRC Reports Data
First, here’s a brief reminder of how the ITRC reports data. We only include information from U.S. data events that are publicly-reported. We report 1) data compromises, which includes data breaches, data exposures (think cloud databases with no security), and 2) data leaks, generally public information that is aggregated and used for a purpose other than that for which it was intended (think scraping information from social media sites that are sold for marketing lists or used for phishing attacks).
Key Takeaways from the ITRC’s First Half 2021 Data Breach Analysis
Now, let’s look at the key takeaways from this week’s ITRC First Half 2021 Data Breach Analysis:
- According to the ITRC’s data breach statistics, data compromises are up 38 percent over the first quarter of 2021, putting us on a trajectory to end 2021 with a record level of compromises. Every month this year (except May) has seen data compromises higher than the month before. If this trend continues, we will exceed the all-time high number of compromises set in 2017 of 1,632 publicly-reported data events.
- However, the number of people impacted by data compromises is down 20 percent quarter-over-quarter. That means we could end 2021 with fewer than 250 million victims of identity compromises, which continues a trend away from the mass collection of individual information that started in 2018.
- The data breach statistics show we are on pace to have the highest number of data compromises ever in the same year that we could see the fewest number of people impacted since the all-time high was set in 2016.
- Data compromises are rising or flat pretty much across the board, with half of the sectors tracked by the ITRC showing increases.
- Manufacturing & Utilities and Professional Services are seeing significant increases while Healthcare and Retail are seeing data compromises drop. This shift reflects the broader trend of cybercriminals focusing their attention on critical infrastructure entities, so important they cannot be allowed to remain offline, and targets considered to be not as well defended. It is all in hopes of securing larger ransomware payments.
- Phishing and Ransomware remain the #1 and #2 root causes of data compromises for the second quarter (Q2) and the first half of the year. However, supply chain attacks continue to increase in volume, scale and complexity. Attacks against vendors that give criminals access to many companies through a single data or security breach increased 19 percent in Q2. The 58 supply chain attacks through June 30, 2021 compares to the 70 malware-related compromises for the year so far. These data breach statistics indicate that third-party risks are poised to surpass malware as the third most common root cause of data events by the end of this year.
- Just two days after the end of the second quarter, a major supply chain attack was launched against the cybersecurity provider Kaseya. Cybercriminals demanded a record $70 million in ransom to restore the operations of more than 1,500 companies impacted by the attack. It’s not known if any personal information has been compromised. However, we know this early third quarter (Q3) attack is an indication that cybercriminals are launching ever more sophisticated attacks that command larger and larger ransom payments.
Contact the ITRC
If you have questions about how to keep your personal information private or secure, visit www.idtheftcenter.org, where you will find helpful tips, and where you can download our First Half 2021 Data Breach Analysis to see our data breach statistics.
If you think you have been the victim of an identity crime or a data breach and you need help figuring out what to do next, you can speak with an expert advisor on the phone (888.400.5530), chat live on the web or exchange emails during our normal business hours (6 a.m. to 5 p.m. PST). Just visit www.idtheftcenter.org to get started.
Thanks again to Experian for supporting the ITRC and this podcast. Be sure to check out our sister podcast, The Fraudian Slip. We will be back next week with another episode of the Weekly Breach Breakdown.