The Impact Of An Android Data Breach

With back to back targets on U.S. retailers such as Target, Neiman Marcus and now Michaels Stores, Android mobile devices are being closely looked at for malware risks in the OS. Numerous applications and mobile device carriers such as T-Mobile have been affected in data breaches. Recently an undisclosed number of T-Mobile customer whom also use Android have been victim to data breaches in 2014. Taking the right security measures is crucial.

Google / Security Intelligence

Krebson Security indicates Michaels as the breached entity. The company also highlights recent breaches at Target and Neiman Marcus both involved highly sophisticated malicious software that stole credit and debit card information from point-0f-sale registers at those stores. Target has said the breach may have affected more than 40 million customer credit and debit cards, and name, address, email address and phone numbers for at least 70 million customers. The company stated that Neiman Marcus revealed that the breach at its stores extended from July 16, 2013 to Oct. 30, 2013, and may have impacted more than 1.1 million customer cards.

ICR Inc. was brought in by Michaels to handle the retailer’s planned transition to a public company. Last month, the company filed paperwork for a potential public offering of its common stock. According to those filings, Michaels generated revenue of $4.41 billion in 2012. Michaels has said the timing, number of shares to be sold and the price range for the proposed offering have not yet been determined.

The cost for an organization affected by a data breach can cost up to millions of dollars lost. These costs are forecasted to rise even higher. Millions of attack sensors are present in various countries around the world. Indications point to more targeted attacks which focus on the SMB sector and new threats emerging.

Data breaches are amongst the most common threats and target attacks. SMBs make up a large percentage of the incidents for data theft. According to Symantic, Attackers are changing their targets, as well. Small businesses make up a larger percentage of those targeted for attack then in 2011—a threefold increase--with 31 percent of all targeted attacks directed at companies with less than 250 employees. Attackers are finding valuable data to steal from small companies and fewer defenses in place to stop them. Manufacturing is now the most targeted business sector.