Data breaches allow cyber criminals to supplement their existing databases of personally identifiable consumer information. Since data is the lifeblood of any digital business today, its abuse can cause financial and reputational damages to a business.
When a social media platform—that you have a profile on—suffers a data breach and your personal details are among the data stolen, you become vulnerable to many types of threats. Cyber criminals can use your account to request for money from your network.
They can post details of non-existent, expensive items purportedly on sale for a limited period and dupe people into paying for them, without ever receiving them. Your account can be used for phishing campaigns to lure people into sharing their personal details. It can also be used to send out spam emails laced with malware or ransomware. In worst cases, your account can be abused for drug- or human-trafficking.