SafeNet: 200 million records stolen in Q1 2014

Equivalent of 93,000 records stolen every hour between January and March, report says

Tags: Cyber crimeSafeNet Incorporated
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SafeNet: 200 million records stolen in Q1 2014 Pavie: Some organisations are handling customer data responsibly, and others are not
By  Tom Paye Published  April 29, 2014

Nearly 200 million records were stolen in the first quarter of 2014, according to highlights released from SafeNet's Breach Level Index report for the period.

The equivalent of 93,000 records were stolen every hour between January and March, an increase of 233% over the same period last year, SafeNet said. Of the 254 data breaches that occurred during the quarter, only 1% were ‘secure breaches' - where strong encryption, key management or authentication solutions prevented the data from being used - the vendor added.

Because the report did not include organisations that failed to disclose the amount of data records they had exposed in Q1 2014, SafeNet said that the number of stolen records was likely even higher than its report states.

According to the report, the financial industry was hit hardest by data breaches, accounting for 56% of all data records lost or stolen. It represented 14% of total breaches during the quarter.

Meanwhile, the healthcare industry was also hit hard in terms of breach events, accounting for 24% of all breaches. However, the industry accounted for just 9% of data records lost or stolen, SafeNet said.

Twenty percent of all records lost or stolen came from the technology industry, while retail represented just 1% of data records lost or stolen, the report added.

Sebastien Pavie, MEA regional sales director at SafeNet, said that the report could help organisations decide on who they trust their data with.

"The white noise of data breach reporting makes every breach seem just as bad as the last, but this is certainly not the case. Some organisations are handling customer data responsibly, and others are not. Tools like the Breach Level Index can help companies and the public alike understand the actual severity of breaches on a graduated scale and distinguish between these two groups," he said.

"In differentiating between secure and insecure breaches, it's important to look at which victims have protected their data with encryption to limit the damage from a breach and render the date unusable to cyber-criminals."

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