IN 2013, there were 1,367 confirmed data breaches impacting consumers’ financial information.
In 2013, there were 1,367 confirmed data breaches impacting consumers’ financial information. Fraud concerns are overwhelming consumers across the world, and influencing a loss of confidence in both retailers and financial institutions’ ability to safeguard their data.
According to an ACI Worldwide Impact Report – Global Consumers: Losing Confidence in the Battle Against Fraud– 27 percent of cardholders (debit, credit and prepaid) had experienced card fraud in the past five years. After experiencing fraud, however, 63 percent of consumers use their card less, at least in some situations, than they had previously. In 2014, 14 percent of debit and credit card holders cite having experienced multiple
cases of fraud during the past five years.