“The Growing Threat of Hidden Data Breaches in Everyday Technology from Office to Smart Home Devices”
Muhammad Jamshed Ahmed
?Fraud Investigation ?Cybersecurity ?Risk Based Internal Audit ?Internal Control & Compliance ?Remote Audit ?Critical Thinking ?Communication
A.??? Data confidentiality breach through third-party services (Hired Peripheral Multifunction Devices).
As reliance on technology grows, manufacturing companies like XXL Corporation?(Anonymous Victim Entity)?are exposed to significant risks through Peripheral Multifunction Devices integrated into their daily operations. Recently, XXL Corporation hired a Peripheral Multifunction Devices that can copy, print, and scan; however, this device/equipment hired unintended vulnerabilities concerning confidential data and proprietary information.
During setup, YYL Corporation personnel?(Anonymous Supplier)?requested sensitive user information—such as email addresses and contact numbers—to link the device to their remote server. This connection enables the YYL Corporation to monitor user activities, track document usage, and even view scanned content. This level of access, especially when managed by employees without IT expertise, exposes sensitive information to possible misuse.
With departments like HR, audit, finance, procurement, other associate functional working independently, maintaining confidentiality across operations is critical. Yet, the YYL Corporation’s unrestricted access raises concerns about unauthorized data exposure and potential confidentiality breaches. Even more alarming is the possibility that the YYL Corporation could sell sensitive data to competitors or external parties, compromising XXL Corporation’s competitive edge.
In today’s digital landscape, organizations must be vigilant about safeguarding confidential information, especially when engaging with YYL Corporation’s whose primary objectives may not fully align with secure service provision. YYL Corporations sometimes seek access to sensitive data, which introduces both detectable and undetected risks that could lead to significant exposure if left unmanaged. As companies adopt advanced technologies, they must prioritize a comprehensive security strategy that not only addresses known risks but also anticipates potential vulnerabilities that may remain hidden.
Implementing robust access controls and conducting regular, thorough risk assessments are critical steps to uncover hidden risks associated with third-party services and multifunction devices. Organizations should establish stringent data protection protocols and enhance their awareness of both immediate and latent risks that could impact data integrity. By ensuring YYL Corporation compliance with these standards, organizations can better protect against undetected threats and reduce the potential for data exposure, upholding security standards and operational resilience while embracing technological innovation.
B.??? When your smart devices turn spy, the hidden cyber threats of everyday IoT.
The emerging environment of everyday objects that use embedded sensors to collect and transmit data through the Internet is best known as the Internet of Things. The Internet of Things (IoT) refers to a network of everyday objects embedded with sensors that collect and transmit data via the Internet, enhancing convenience and efficiency in daily life.
Examples of IoT devices include wearable health trackers, such as smartwatches and rings that monitor vital signs; smart refrigerators that manage food inventories; smart door locks enabling remote access; smart streetlights that adjust lighting based on environmental conditions; comprehensive home automation systems; smart parking solutions; and agricultural sensors designed to monitor soil quality and crop health.
While these innovations offer tremendous benefits, they also create vulnerabilities. IoT development often prioritizes innovation and functionality over security, leaving devices exposed to cyber-attacks and fraud. As these devices handle large volumes of sensitive information, they present significant risks if not adequately protected, giving cybercriminals opportunities to exploit weaknesses in IoT networks. These advancements make daily life more convenient and efficient but also increase potential entry points for cybercriminals to access sensitive data and networks.
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The rise in third-party risk exposure, leading to hidden data breaches in everyday technology from office equipment to smart home devices, underscores the critical importance of data security in Bangladesh. This issue is particularly significant for the protection of sensitive information pertaining not only to influential individuals but also to organizations and the nation at large. Highlighting vulnerabilities tied to third-party access along with the potential cyberattack could motivate organizations to strengthen data protection practices, perform thorough risk assessments, and establish robust access controls. By covering compliance with frameworks like GDPR, OECD, APEC, HIPAA, OSHA, ISO, and UN data protection and privacy standards, along with our local data privacy laws, this article aims to create awareness as practical guidance on protecting confidential information.
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Md. Jamshed Ahmed
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Executive at ACI Limited
2 个月This insightful article illuminates the often overlooked security risks associated with third-party services and IoT devices, providing valuable insights into safeguarding sensitive information in today's interconnected world. Thanks for highlighting this issue.
Executive, Risk Management & Internal Audit | Professional Degree in Accounting
2 个月A great reminder on the hidden risks of data breaches from everyday technologies like IoT and third-party devices. Prioritizing strong security measures and regular risk assessments is key to protecting sensitive information. Thanks for shedding light on this crucial topic!
Internal Auditor at ACI Limited
2 个月The writing effectively highlights the critical risks of integrating third-party multifunction devices into operations, emphasizing the balance between technological advancement and data security.
Officer,Risk Management & Internal Audit- ACI Limited
2 个月Great insights into the growing threat of hidden data breaches due to third-party devices and IoT technologies. As we increasingly rely on these systems, it’s essential for organizations to not only focus on immediate technological needs but also to invest in comprehensive cybersecurity strategies. Regular security audits, strong encryption standards, and employee training on data privacy are key in mitigating risks from hidden vulnerabilities. Additionally, aligning with international frameworks like GDPR and local data protection laws will help ensure compliance and safeguard against evolving threats. Only by adopting a proactive approach can we fully benefit from technological advancements while protecting sensitive information.
Cost & Management Accountant, Forensic accountant, Fraud Examiner, Risk Management and Internal Audit, Process Re-engineering, Business Analyst.
2 个月Using smart devices does not always equate to being truly smart. True smartness is the ability to appreciate situations and demonstrate foresight. In today’s world, information is one of the most valuable assets. However, due to a lack of awareness or foresight, we often allow groups to steal our valuable information, all while considering ourselves "smart." How misguided we are in our understanding of true smartness!