Cyber-attacks continue to evolve rapidly, and even developing nations have missed staying ahead of the fraud hook.
The recent hacking of the system of Bulgaria’s National Revenue Agency (NRA) proves this. The financial data of nearly all taxpayers in the nation was reported to be stolen by the mysterious hackers. The incident becomes the biggest ever data breach in the history of the Balkan country.
As of now, no details are open on how cyber hackers have managed to attain access to the NRA’s servers. However, as per the reports, the attack happened through the vulnerability in their VAT refund system and hit roughly 3% of the agency’s database, which comprises the records of over 5 million citizens of the nation (To put that fact into perspective, Bulgaria has a total population of about 7 million!).
Compromised data involves many critically confidential information like personal identification numbers, personal income, social security, tax records, and even healthcare figures.
Bulgaria –A Frequent Target..?
It was not the first time the dark hackers target the Bulgarian government.
The cyber-attack came into light in Bulgaria a year back when the hackers attacked the country’s Commercial Registry system.
Unfortunately, the nation has to face another incident of a data breach within almost a year when the Bulgarian authorities temporarily held a Bulgarian IT professional for publishing details about ways to misuse vulnerabilities in a kindergarten web portal to harvest the GRAO details of all Bulgarians.
Data Breach Implications – What Is To Be Noted?
The Bulgarian cyber-attack is unusual but not unique; it may happen in any enterprise or organization.
Highly skilled hackers used to be the spearheads of Data breaches. But now, cyber-attacks are becoming more complex, as the readymade hacking tools and malware that are available on the dark web make it possible for even amateur hackers to create tremendous harm.
Therefore, there may be potential of cyber-attack risk and infringement of personal data privacy, so long as the data remains in a system that connects to the network.
Looking For Ways To Ensure Information Security?
The implications of such data breaches are serious.
Relevant data processing and storage procedures should be practiced to assure compliance. In the wake of high-profile data breaches that occurred in Bulgaria, organizations should be mindful of cybersecurity and hence should evaluate any security vulnerabilities or potential risks at their systems from time to time with adequate security measures.
As cybercriminals are becoming more and more sophisticated, it’s profoundly recommended that you reach out to an expert cybersecurity consultant, and get ideas on developing better ways to protect your company against cyberattacks.