Importance of Log monitoring and Threat Landscape
Two years ago, hackers attacked the US-based credit reporting agency Equifax, resulting in data of over 150 million customers being exposed. Equifax had to pay a huge price for this breach. Apart from the inevitable reputational damage that the breach caused, the company has reportedly reached a settlement with some US federal and state agencies including the FTC, Consumer Financial Protection Bureau and state attorney’s general. Reports suggest that the company has agreed to pay a total of close to $700 million to affected customers. While Equifax was a victim of the breach rather than the perpetrator, it had to still cough up the money since it presumably failed to take adequate efforts to keep the records of its customers safe. As this example demonstrates, organisations today are exposed to a much bigger threat of data breaches that could occur in any form such as ransomware attacks, DDoS attacks, loss of data or stolen funds. Each of these can prove to be extreme...