Over 1.7 billion individuals fell victim to data breaches in 2024, with weak security measures and a lack of multifactor authentication driving record-breaking exposures.
In 2024, data breaches reached alarming levels, impacting more than 1.7 billion individuals, a 312% increase in breach victim notices compared to the previous year. The Identity Theft Resource Center (ITRC) Annual Data Breach Report revealed that cyberattacks accounted for 80% of breaches, with six major incidents exposing over 100 million records each.
The most severe breaches included:
While the total number of reported breaches slightly declined, the number of records compromised soared due to a few high-impact attacks.
Six large-scale breaches were responsible for 85% of all data breach victim notifications in 2024.
Massive breaches like these reveal more than just poor security practices, they expose weaknesses in how organizations approach data protection.
Once breached, personal data doesn’t simply disappear, it circulates among cybercriminals for years. Leaked credentials lead to account takeovers, identity fraud, and financial scams. Even individuals who don’t see immediate harm may become victims long after an initial breach.
While some states enforce strong breach notification laws, the U.S. still lacks a federal data privacy law comparable to Europe’s GDPR. The lack of uniform regulations means organizations operate under inconsistent security expectations, leaving personal data at risk.
Many of the largest breaches in 2024 stemmed from avoidable security failures. Weak passwords, lack of MFA, and poor access controls were primary causes, not advanced cyber tactics. Preventing these breaches required basic security hygiene, not cutting-edge technology.
Despite overwhelming evidence that multifactor authentication (MFA) prevents account takeovers, many organizations still fail to implement it. The fact that four of the year’s largest breaches could have been prevented by simply enabling MFA proves a continued failure in security leadership.
For years, the healthcare industry has been the top target for data breaches. While 2024 saw financial services take the lead, healthcare breaches are still increasing in severity. The exposure of 190 million patient records at Change Healthcare only, indicates the necessity of stricter cybersecurity standards and mandatory implementation of MFA under HIPAA regulations.
Organizations continue to resist security measures that introduce friction, even if those measures would prevent catastrophic breaches. This failure to balance security and usability keeps exposing billions of records, reinforcing the need for stronger regulatory enforcement.
Each breach contributes to an expanding pool of compromised credentials, fueling future cyberattacks. Organizations must recognize that every breach has ripple effects, enabling further exploits like credential stuffing and identity theft. Treating each breach as a one-off event underestimates its long-term impact.
Most individuals affected by breaches receive little to no real recourse. Credit monitoring and fraud alerts are reactive measures, not solutions. Until meaningful protections, such as legal consequences for negligent security practices and stronger consumer rights are enacted, breaches will continue to rise.
Data breaches often result from cyberattacks, such as phishing, malware, and credential theft. Weak security practices, like reusing passwords and lacking multifactor authentication (MFA), also make breaches more likely.
Depending on the breach, exposed data can include names, addresses, Social Security numbers, financial details, medical records, and login credentials. In some cases, even biometric data is compromised.
If your data is exposed, immediately update passwords, enable MFA on accounts, monitor financial statements, freeze credit if necessary, and stay alert for phishing attempts using your stolen information.
In the U.S., data breach notification laws vary by state. Some states mandate swift disclosure, while others have looser requirements. There is no single federal law enforcing uniform breach notification.
Companies should enforce strong security measures, including MFA, regular security audits, employee cybersecurity training, encrypted data storage, and rapid response plans for potential breaches.