Experian's Data Breach Industry Forecast report outlines the top five data breach trends predicted for 2017.
Experian, a global services group, has assisted organizations with more than 17,000 data breaches over the past 10 years.
Here are the company's predictions for 2017.
1. "Aftershock" password data breaches will accelerate the end of password usage. More and more companies — such as LinkedIn, Dropbox and Yahoo — have experienced "aftershock" data breaches, through which users' account information resurfaces and becomes exposed long after the initial breach. Experian predicts this trend will encourage organizations to require two-factor user authentification, such as SMS alerts, ultimately eliminating the necessity of passwords.
2. Cyberattacks will incite conflict and possibly war between nations. Cyberattacks between countries are no doubt on the rise. As the attacks grow in number, countries' citizens are increasingly put at risk. Experian believes the U.S. will "disclose at least one major offensive cyber operation against a terrorist organization like ISIS or in retailiation for an attack by another nation-state."
3. Healthcare organizations will be the most targeted sector. Breaches involving EHRs will continue to grow, according to Experian. In addition, Experian predicts hackers will begin targeting health insurers. Cybercriminals are shifting their focus toward ransomware, which Experian believes will also be a top concern in 2017.
4. Cybercriminals will focus on payment-related attacks. Last year, Experian predicted payment-based breaches would continue despite the shift to EMV (Europay, MasterCard and Visa) chip payments and PIN liability. Experian believes this trend will continue, and that hackers will target smaller companies rather than big name retailers like Target.
5. International data breaches will negatively impact multinational corporations. Losing consumers' data is challenging enough, but losing international consumers' data makes the situation even more complicated. Multinational companies should begin setting guidelines and preparing for breaches involving international people. Experian believes "at least one U.S. multinational company will experience a significant loss in its valuation due to an international data breach in 2017."