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The threat of data breach or revealing information obtained in a data breach can be used for extortion. [16] Consumers may suffer various forms of tangible or intangible harm from the theft of their personal data, or not notice any harm. [91] A significant portion of those affected by a data breach become victims of identity theft. [82]
With the rise of internet usage and digital data generation, the threat landscape has expanded significantly, leading to an increase in cyberthreats that can impact businesses and consumers alike.
Personal information can be collected in mass, but the debate over whether it breaches personal privacy is due to the inability to match this information with specific people. [30] There have however been some concerns with API because of the recent scandal between Facebook and the political consulting firm, Cambridge Analytica.
The sale of personal data can result in targeted advertising, manipulation, and even potential security risks, as sensitive information can be exploited by malicious actors. This commercial exploitation of personal data undermines user trust and raises significant ethical and legal concerns regarding data protection and privacy rights.
PII gathering is often seen as a privacy threat by data owners, while entities such as technology companies, governments, and organizations utilize this data to analyze consumer behavior, political preferences, and personal interests. With advances in information technology, access to and sharing of PII have become easier.
According to the 2022 Unit 42 Ransomware Threat Report, in 2021 the average ransom demand in cases handled by Norton climbed 144 percent to $2.2 million, and there was an 85 percent increase in the number of victims who had their personal information shown on dark web information dumps. [17]
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