Verizon, one of the leading global telecommunications companies, has recently reported an insider data breach that has impacted the personal information of more than 63,000 employees, representing nearly half of its global workforce. The breach, which occurred on September 21, 2023, was only discovered nearly three months later, on December 12, 2023. Unauthorized access by an employee was cited as the cause of the breach, leading to the compromise of employees’ full names, street addresses, Social Security numbers, National ID, gender, union affiliation, date of birth, and compensation information.

Fortunately, Verizon has provided reassurance that there is no evidence of misuse or external sharing of the impacted information, as reported by SEC alerts. In response to the breach, the company has diligently responded by offering free identity protection and credit monitoring services to the affected employees for a period of two years. Additionally, Verizon has recommended that employees vigilantly monitor their credit reports and review account statements to detect any irregularities.

As a global telecommunications giant with 117,000 employees across more than 150 countries, Verizon’s commitment to safeguarding the personal information of its workforce is of paramount importance.

The significance of insider threats in corporate environments cannot be understated. Insider breaches can lead to potential loss of customers, reputational damage, and legal penalties. Whether intentional or accidental, insider breaches highlight the importance of internal vigilance and expert help. To prevent such breaches, companies are urged to embrace managed security service providers for their tech-savvy and round-the-clock vigilance, coupled with strong cybersecurity solutions and a commitment to keeping teams informed and alert.

The breach at Verizon underscores the complexity of cybersecurity threats and the dire need to create a culture of security within organizations. By utilizing the support of managed security service providers and employing robust cybersecurity solutions, businesses can fortify themselves against the wide array of threats, including those that may originate from within the organization.

The breach at Verizon serves as a poignant reminder of the ongoing battle to safeguard sensitive information and the critical need for all companies, regardless of size or industry, to remain vigilant and proactive in their approach to cybersecurity.

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Madalina, a seasoned digital content creator at Heimdal®, is dedicated to bridging the gap between cybersecurity experts and a wider audience. Her passion for cybersecurity, combined with an 8-year background in PR & CSR consultancy, allows her to make complex cyber topics accessible to all.

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