Threats to corporate data security are on the rise. One of the most dangerous threats is the Dark Web, a hidden ecosystem used by cybercriminals to trade leaked data. When company data, whether it be customer or employee information, is leaked and ends up on the Dark Web, the impact can be devastating. Therefore, real-time data leak monitoring is essential to protect businesses from threats that may arise from the Dark Web. Here are five reasons why this step is so important to protect your business.
1. Detecting Threats Early
One of the main advantages of data leak monitoring is the ability to detect threats early. Real-time monitoring allows companies to know when their sensitive data has been leaked or stolen. With this step, companies can take proactive measures before the data is used by cybercriminals on the Dark Web.
For example, many companies do not realise they have had a data leak until it is too late. In 2020, a large company failed to detect a leak of sensitive customer data for months, which was then sold on the Dark Web and used for fraud. If they had had better monitoring in place, the leak could have been dealt with immediately and the damage minimised.
Read: Dark Web and Data Security Risks: Why Companies Must Stay Vigilant?
2. Protecting Company Sensitive Data
Sensitive data such as employee, customer, and operational information is highly valuable on the Dark Web. Cybercriminals often target this data because it can be used for further attacks, including identity theft and extortion. Monitoring data breaches helps businesses maintain the confidentiality of this information, ensuring that data is not used illegally.
If data such as names, addresses, or financial information falls into the wrong hands, the consequences can be severe. The sale of this data on the Dark Web poses a significant threat to businesses that fail to keep their data secure. With proper monitoring, companies can immediately find out if their data has started to circulate on this black market.
3. Complying with Security and Privacy Regulations
Regulations such as the General Data Protection Regulation (GDPR) in Europe and the Personal Data Protection Law (PDP Law) in Indonesia require companies to strictly protect personal data. Failure to do so can result in significant fines and reputational damage. By monitoring data breaches, companies can better comply with these regulations, reducing the risk of large fines.
For example, companies that experience data breaches and do not have monitoring measures in place will find it more difficult to demonstrate compliance with the rules. This is not only a financial risk, but can also result in reputational damage that is difficult to repair.
4. Reducing the Impact of Phishing and Ransomware Attacks
Data breaches are often used by cybercriminals to launch phishing and ransomware attacks. Information found on the Dark Web allows attackers to mount more targeted attacks that are more difficult for employees to recognise.
For example, in many phishing attacks, criminals use leaked data to create emails that appear legitimate, tricking employees into handing over more sensitive information. By monitoring data leaks in real time, companies can immediately alert employees to potential attacks, reducing the risk of further attacks.
5. Maintaining Customer and Business Partner Trust
Trust is one of the most important assets in business. When customers and partners know that a company proactively protects their data, including through data breach monitoring, trust in that business increases. Conversely, if data is leaked and spread on the Dark Web, the company's reputation can be destroyed, leading to the loss of customers and business partnerships.
A case study from 2022 shows how a massive data leak destroyed the reputation of a company that did not have adequate monitoring in place. Customers no longer felt safe using the company's services, leading to a significant decline in revenue. With data leak monitoring, companies can prevent this from happening and maintain good relationships with customers and business partners.
Read: Data Leaks: Their Impact on Relationships with Business Partners
Conclusion
Data breach monitoring is key to protecting businesses from Dark Web threats. By detecting threats early, protecting sensitive data, complying with regulations, mitigating the impact of attacks, and maintaining customer trust, companies can better address cybersecurity challenges. In an increasingly digitally connected world, data security is not only a technical responsibility, but also part of a sustainable business strategy.
Now is the right time for companies to integrate data breach monitoring as part of their cybersecurity strategy to remain protected from the ever-evolving threats in the digital world.
Mira