Dark Web Monitoring: What Your Business Needs to Know

The dark web, or dark side of the internet, can be used for illegal and malicious activities, such as hacking, identity theft, and cyberattacks. But another huge part of the dark web deals with the monetization of your private information. Like your banking account information or passwords for everything you do online.

To protect both yourself and your business from these dangers, you should strongly consider proactively monitoring the dark web. Allowing you to promptly respond when you are notified that your sensitive information has been exposed and found on the dark web for sale.

In this article, we’ll explain what the dark web is, why it's critical to monitor, and what the consequences for your business are if you're not aware your credentials or information have been leaked. Dark web monitoring is just one layer of many in what we call, "Defense in Depth". These multiple layers help protect your business from experiencing a cybersecurity incident. This article is for anyone who wants to learn more about the dark web and how to keep your data safe, whether you’re a small business or a large enterprise with sensitive data. 

What is dark web monitoring?

The dark web is a dangerous place where criminals can hack, steal, and sell sensitive information from innocent people. A report by Intelliagg shows the most common types of crimes that happen on the dark web.

Dark web monitoring is a way to keep an eye on the dark web, which is a hidden part of the internet that you can’t access with normal search engines or web browsers.

Dark web monitoring uses special software and tools to look for and examine data on the dark web. This can help you find out if someone is using your company’s or your personal information, such as passwords, bank details, or identity documents. The purpose of dark web monitoring is to spot any problems or risks before they can cause you harm.

More and more people are using dark web monitoring these days because the dark web is becoming more dangerous. That’s why many companies are making dark web monitoring a key part of their security plan to protect themselves from possible threats.

Dark web monitoring: Is it worth it?

The price of a dark web monitoring service depends on who you choose and what you need. But the price of a data breach can be huge, with an average of $3.86 million for each case, based on a 2020 study by IBM Security. Check Point Research (CPR) has seen more talks on dark web forums about the illegal sharing or selling of hacked premium accounts for ChatGPT in the last month. These are the main things they found out about the situation:

• Someone leaked and posted the login details for ChatGPT accounts
• People traded the premium ChatGPT accounts that they took
• Brute forcing and Checkers tools for ChatGPT – tools that let cybercriminals break into ChatGPT accounts by using big lists of email addresses and passwords, trying to find the right match to get into existing accounts.
• ChatGPT Accounts as a Service – a service that makes ChatGPT premium accounts for you - probably using stolen credit cards.

When You might have thought your company’s data was secure, but the ChatGPT data leak proved you wrong. It’s a clear warning that the most surprising data breaches can and will happen. Just think about how much a data breach could cost you, paying for a dark web monitoring service is nothing compared to that.

What types of credentials do you find on the dark web?

On the dark web you can find different kinds of employee information, such as:

• Usernames and passwords - Cybercriminals often take login details and sell them on the dark web. These details can let them get into the business’s network and private data.
• Personally identifiable information (PII) - PII like names, addresses, and Social Security numbers can be used to steal identities or do other kinds of scams.
• Email addresses - Business email addresses can be used for phishing attacks or spamming.
• Financial information - Credit card numbers, bank account information, and other financial information can be used for fake purchases or identity theft.
• Security question answers - Cybercriminals can use security question answers to change passwords and get into employee accounts.
• Employee identification numbers - Employee identification numbers can be used to pretend to be employees or do other kinds of scams.
• Digital certificates - Digital certificates used to protect communications between employees and clients can be taken and sold on the dark web, allowing cybercriminals to listen in on secret conversations.
  
  

Reality Check: Here's the thing. It's clear that third parties and other organizations that store our credentials and PII are NOT notifying us when they have a breach. Not to mention the amount of time it takes for an organization to internally investigate IF and breach took place or WHAT, if any data was stolen. This can take some time. Usually months before customers are notified that a breach occurred. That is if they even know about the breach at all! This puts YOU and your business in a tough position. Meaning months could go by before you know that your information is for sale or that you need to actively respond to it. 

What are the benefits of using a dark web monitoring service?

• Proactive threat intelligence - Dark web monitoring services give you proactive threat intelligence, which can help you keep up with new threats and protect your sensitive data.
• Early detection of data breaches - Dark web monitoring services can find data breaches before they turn into big security problems, giving you the chance to act before the breach gets out of control.
• Protect your reputation - By monitoring the dark web, you can spot potential threats and do something to stop them before they become known. This can help protect your company’s reputation and keep customer trust.
• Compliance - Dark web monitoring services can help you follow the rules that ask companies to protect sensitive information, avoiding possible fines or legal actions.
• Competitive advantage - By monitoring the dark web, you can stay ahead of your competitors about new threats. It can help to make your company more competitive.

Having your data leaked is never fun.
So, do something about it.
Find out now. It's Free!

While you can't prevent 3rd parties from leaking your data, you can shield your business from the consequences of their security failures (and level up your own security game in the process!).

Wondering if your business accounts have been compromised or have been exposed in a data breach? Let's find out. It's free. Find out here: https://cloudmatrixit.com/#DarkWebReport

What are the consequences of not monitoring the dark web?

There can be some pretty serious consequences if you're unaware that your  credentials have been leaked and being sold on the dark web. Such as:

• Data breaches: Using stolen credentials cybercriminals can infiltrate a company’s network and access confidential information, such as customer data, financial records, and intellectual property. This can cause huge financial losses and harm the company’s reputation.
• Financial fraud: Stolen credentials can enable cybercriminals to commit financial fraud, such as making unauthorized transactions or accessing company bank accounts.
• Ransomware attacks: Ransomware is a kind of malware that locks a company’s data and asks for payment to unlock it. Cybercriminals can use stolen credentials to enter a company’s network and launch ransomware, resulting in significant disruption and financial losses.
• Reputational damage: A data breach or other cyber attack can tarnish a company’s reputation, leading to lost business, legal action, and long-term damage to the brand’s image.
• Compliance violations: Many industries have to follow data protection regulations, such as the General Data Protection Regulation (GDPR) and the Health Insurance Portability and Accountability Act (HIPAA). Stolen credentials can cause violations of these regulations, resulting in hefty fines and legal action.

Monitoring the dark web for exposed credentials is crucial for all businesses. Doing so allows companies to spot and deal with potential cyber threats before they do any damage. Relying on the various organizations to notify us or give us a warning that they may have been breached is just a pipe dream. It takes them to long to investigate. The realistic option is to monitor the dark web for your information. 

If you're ready to take control and secure your business data, reach out for a chat. IT PROTECT can provide the IT support you need and the critical security your business must have.

Cloud Matrix IT™ is a managed IT and technology consulting firm who specializes in providing proactive IT solutions to small and medium-sized businesses. We designed IT PROTECT specifically for the SMB. IT PROTECT is a comprehensive suite of solutions & processes that help your business save time, reduce costs, provide your staff IT support, and help you stay protected with our fully managed 24/7/365 SOC PLUS cybersecurity platform. Yes, even weekends and holidays.