Lock Up Your Data

February 10, 2020

Written By Greg Clute

Chief Financial Officer specializing in financials, reporting, planning, project management, client relations and business development.

Did you know that stolen medical data is extremely valuable on the black market? Cybercriminals across the globe have seen the demand for this enticing commodity and have reaped the benefits of their lawless actions. 

When you think about it, it’s a disconcerting thought knowing that your personal data is constantly being sought after by an underground society of criminals and bootleggers. And although financial data still reigns king in the black market, Intel Security McAfee Labs have reported a “Health Warning” in the industry, remarking on the fact that cybercriminals have been dumping far more time and resources into exploiting and monetizing health care data. 

After being stolen, financial data can quickly become unstable, allowing people to swiftly change their credit card numbers. Medical data, on the other hand, is not perishable, which makes it especially valuable to illicit buyers. Speculations in the medical industry have stated that one day medical data could grow to rival or even surpass financial data in gross value on the black market. Although this is not the case yet, some of the most valuable data targeted by cybercriminals are pharmaceutical and biotech intellectual property. 

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