The Rising Cost of Data Breaches: What we need to learn from high profile cases

POSTED ON MAY 21, 2025 BY DATA SECURE

Introduction

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In today’s hyperconnected digital world, data has become one of the most valuable—and vulnerable—assets. As businesses, governments, and individuals increasingly store personal and financial information online, cybercriminals are constantly upskilling themselves to polish their strategies to exploit weaknesses.

Last year there was an alarming count of cyberattacks affecting millions of individuals and some of the world’s largest organizations. These incidents are not just isolated events; they are indicators of systemic weaknesses in our digital infrastructure.

Through this article we have explored the most significant data breaches of the past 12–18 months, along with providing insights into what went wrong and what are the key takeaways so that we can strengthen the cybersecurity systems.

Snowflake Breach: Cloud Vulnerabilities Under the Microscope

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In 2024, hackers breached Snowflake, a cloud data warehouse platform used by hundreds of major enterprises. Attackers accessed the data of over 100 companies, including Ticketmaster, AT&T, and Santander Bank. Exposed information included call records, financial data, and customer contact details.

One of the alleged perpetrators, Connor Moucka, was arrested in the U.K. and agreed to extradition to the U.S.

Key Lessons:

  • Stolen credentials and lack of multi-factor authentication (MFA) were reportedly key factors in the breach.
  • Enterprises relying on third-party providers must ensure those partners follow strict security protocols.
  • Zero-trust architecture and continuous monitoring are becoming must-haves—not optional.

Amazon’s GDPR Fine: A New Era of Accountability

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In March 2025, Amazon lost a legal battle to overturn a historic €746 million GDPR fine imposed by Luxembourg’s privacy regulator. The penalty stemmed from how Amazon processed personal data for targeted advertising without valid consent.

This ruling reinforced the EU’s tough stance on privacy along with a message to all companies across the globe that non-compliance with data protection laws will involve hefty fines.

Key Lessons:

  • Consent must be freely given, informed, and specific—ambiguous or vague opt-ins are no more an option.
  • Data governance isn’t just a legal requirement but also a business risk.
  • Organizations should expect increased regulatory scrutiny in other jurisdictions, especially as laws like India’s DPDPA and the U.S. ADPPA gain traction.

23andMe Bankruptcy: Genetic Data in Legal Limbo

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In early 2025, consumer genetics company 23andMe filed for bankruptcy, shocking privacy advocates and customers alike. With millions of individuals having submitted DNA samples and received ancestry and health insights, concerns grew around how such sensitive data would be handled during bankruptcy proceedings.

Despite allowing users to delete their profiles, many questioned whether data was truly removed from all servers.

Key Lessons:

  • Genetic and biometric data require high level protections beyond standard personal information safeguards.
  • Bankruptcy laws are not well-equipped to handle the transfer or sale of sensitive health data.
  • There’s increasing pressure on lawmakers to close these legal loopholes.

French Health Insurance Hack: 33 Million Exposed

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In January 2024, the personal information of 33 million French citizens was compromised in a cyberattack targeting the country’s health insurance system. Data included names, birthdates, social security numbers, and civil statuses.

The breach, which impacted nearly half the population, reignited concerns over the cybersecurity of public health systems.

Key Lessons:

  • Critical infrastructure, including national health systems, remains a prime target for attackers.
  • Risks are increasing due to aging IT systems and fragmented digital frameworks
  • Governments must allocate more budget and resources toward cybersecurity modernization.

LockBit Ransomware Group Dismantled

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In a rare victory, global law enforcement agencies—including Europol and the FBI—took down the LockBit ransomware gang in February 2024. The operation led to arrests, server seizures, and the release of a decryption tool to assist victims.

LockBit was responsible for attacks on hospitals, municipalities, and large enterprises, often demanding multimillion-dollar ransoms.

Key Lessons:

  • International cooperation is crucial to combating cybercrime.
  • Disrupting infrastructure and offering remediation tools are effective post-breach strategies.
  • Organizations must maintain offline backups and prioritize cyber resilience to avoid ransom payments.

Some other noteworthy breaches:

Tesla Internal Leak
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In 2024, a former Tesla employee leaked over 100GB of confidential data, including employee records and customer complaints. The breach affected more than 75,000 individuals.

Key Insight: Insider threats which can either be malicious or accidental remain one of the most difficult cybersecurity risks to manage.

T-Mobile’s Ongoing Security Struggles
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T-Mobile disclosed that a cyberattack in early 2024 exposed data from 37 million customers. The company later agreed to a $31.5 million settlement with U.S. regulators.

Key Insight: Repeated breaches can cause to lose public trust. Its is imperative that companies must demonstrate not just recovery but impactful change.

U.S. Government Contractor Breach

In April 2025, a major defence contractor serving the U.S. government was compromised. Classified project data, including infrastructure blueprints, was reportedly accessed.

Key Insight: Supply chain security is now a national security issue. Contractors must adhere to rigorous cyber standards, especially in defence sectors.

Reddit Source Code Stolen
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A phishing attack on Reddit compromised employee credentials, providing the cyber criminals access to internal documentation, source code, and business systems.

Key Insight: It is not hidden fact that no matter how tech-savvy a company is, it is still vulnerable to become a victim to social engineering. Hence providing training to employees is critical.

Latitude Financial: 14 Million Records Breached
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Australian lender Latitude Financial experienced one of the country’s largest data breaches when hackers stole 14 million customer records.

Key Insight: Large-scale breaches in financial services can often result in regulatory action and long-term reputational damage.

NHS Lab Partner Attacked

In mid-2024, ransomware group Qilin targeted Synnovis, a pathology service provider for the UK’s NHS. Blood tests and diagnostic services were severely disrupted across London hospitals.

Key Insight: It is now a known fact that the Healthcare sector remains high-value target for attackers. The Business continuity planning must include cyberattack contingencies.

1. Cloud Misconfigurations and Credential Theft Lead the Pack

Many recent data breaches can be traced back to weak access controls, misconfigured cloud environments, and inadequate identity and access management (IAM) practices. To mitigate these risks, organizations must implement a least-privilege access model, ensuring that users, applications, and systems only have the minimum level of access necessary to perform their functions. This reduces the potential impact of both internal and external breaches, as attackers are less likely to move laterally within systems if privileges are tightly controlled.

2. Insider Threats Are on the Rise

Unlike outsiders, insiders often have legitimate access to sensitive systems, making their actions harder to detect. Whether it’s a malicious employee stealing proprietary information or a careless staff member clicking on a phishing link, insider threats can lead to data leaks, financial loss, and reputational harm. To mitigate these risks, organizations must implement robust internal monitoring tools that detect unusual behaviour, enforce network segmentation to limit access to critical systems, and conduct regular security awareness training.

3. Public Sector Breaches Are Growing

National governments and public agencies face growing threats from cybercriminals and nation-state actors, often due to a combination of legacy IT systems, complex bureaucratic structures, and limited cybersecurity budgets. Many public institutions still rely on outdated software and infrastructure that lack modern security features, making them easy targets for attackers. Budget constraints further hinder their ability to invest in advanced threat detection, skilled cybersecurity personnel, and timely system upgrades.

4. Consumers Are Losing Trust

With data breaches becoming more frequent, sophisticated, and large-scale, public trust in digital platforms—whether in the private or public sector—is steadily eroding. Consumers are increasingly concerned about how their personal information is collected, stored, and used, especially when high-profile incidents repeatedly expose sensitive data without warning. This loss of confidence can have serious consequences, from decreased user engagement to long-term reputational damage for companies and institutions.

How you can enhance your responsibility: Tips for Organizations and Individuals

For Organizations:

  • Implement zero-trust architecture.
  • Enforce Multi-Factor Authentication (MFA) across all endpoints.
  • Regularly conduct penetration testing and security audits.
  • Develop and rehearse incident response plans.
  • Educate employees on phishing, password hygiene, and insider risks.

For Individuals:

  • Use strong, unique passwords and a password manager.
  • Enable MFA for all sensitive accounts.
  • Stay cautious about suspicious emails and links.
  • Monitor financial and health records for unusual activity.
  • Request data deletion from unused services when possible.

Conclusion: The Penalty for inaction

The digital age has revolutionized how we live and work—but it has also created unprecedented risks. The incidents highlighted in this article are not isolated anomalies—they are warnings.

Governments must act to enhance and strengthen cybersecurity laws and enforcement. Companies need to and must make data protection a board-level priority. As for individuals they need to remain vigilant and proactive.

Data breaches are no longer a matter of “if,” but “when.” Preparation is no longer optional—it’s compulsion/essential.

Sources:

  • Snowflake breach
  • Connor Moucka arrest
  • Amazon GDPR fine
  • 23andMe bankruptcy
  • French health data breach
  • LockBit takedown
  • Tesla insider breach
  • T-Mobile breach and settlement
  • US contractor breach
  • Reddit phishing attack
  • Latitude Financial breach

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