16 Questions
What is the estimated cost of malicious cyber activity to the US economy in 2016?
Between $57 and $109 billion
What is a potential consequence of a vulnerability in a database?
Losing the data within the database
What is the name of the attack that resulted in the deletion of thousands of databases?
The meow attack
Why is it important to ensure the security of systems?
To prevent both financial and data loss
What is a common weakness in databases that can lead to vulnerabilities?
Using default passwords or no passwords
In what year did the United States Council of Economic Advisors publish the report on the cost of malicious cyber activity?
2018
What is a consequence of not having a properly secured database?
Data theft and identity theft
What was the vulnerability that allowed the Equifax identity theft?
A vulnerability in Apache Struts
What was the estimated amount of money lost by the Bank of Bangladesh due to a SWIFT vulnerability?
$81 million
What can happen to a company's reputation if it gets hacked and does not disclose it?
The company's reputation will be affected, and its value may decrease in the stock market
What happened to the Chief Security Officer of Uber after the breach in 2016?
He was charged with obstruction of justice and misprision of a felony
What can happen to a system if a vulnerability is exploited?
The system will experience outages and downtime
What type of attack took down the internal systems of Banco Estado in Chile?
Ransomware
How many customer names, email addresses, and mobile phone numbers were accessed by attackers in the Uber breach?
25.6 million
What was the amount of money paid by Equifax in fines for the 2017 breach?
Over $500 million
What type of vulnerability allowed attackers to steal $60 million from the Taiwanese Far Eastern International Bank?
A vulnerability in SWIFT
Study Notes
Importance of Database Security
- A failure to secure databases can lead to severe consequences, including data theft and financial losses.
- Attackers may steal data for their own purposes, such as identity theft.
Equifax Breach (2017)
- Attackers gained access to names, social security numbers, birth dates, and address information of over 147.9 million Americans, 15 million British citizens, and 19,000 Canadian citizens.
- The breach was due to a vulnerability in Apache Struts that was announced on March 7.
- The attackers exploited the vulnerability on March 12 and stole sensitive information.
- The breach led to the departure of the CIO and CISO and over $500 million in fines.
Financial Losses
- In 2016, attackers exploited a vulnerability in the SWIFT network to steal $81 million from the Bank of Bangladesh.
- Similar attacks led to losses of $12 million from Wells Fargo and $60 million from the Far Eastern International Bank.
Reputation Impact
- Data breaches can damage an organization's reputation and lead to financial losses.
- In 2016, Uber suffered a breach that exposed 25.6 million customer names, email addresses, and mobile phone numbers.
- Uber paid $148 million in fines and its CSO was charged with obstruction of justice and misprision of a felony.
Uptime and Availability
- Attackers can cause outages, downtime, and unavailability of systems by exploiting vulnerabilities.
- Ransomware attacks can bring down entire networks, such as the attack on Chile's Banco Estado in 2021.
Cost of Malicious Cyber Activity
- The United States Council of Economic Advisors estimated the cost of malicious cyber activity to the US economy at $57-109 billion in 2016.
Data Loss
- Losing data can be more damaging than losing money, especially if sensitive information is exposed.
- The "Meow Attack" in 2020 saw thousands of databases with no passwords or default passwords being deleted without warning.
Learn about the significant financial costs of malicious cyber activity to the US economy, as reported by the United States Council of Economic Advisors. This quiz explores the financial and other impacts of vulnerabilities on organizations.
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