More than 40 percent of respondents in an Experian Data Breach Resolution survey said that they feel that monitoring financial transactions for fraud is too time-consuming, and 71 percent of respondents say they rely heavily on their bank or card issuer alerting them to fraud.
The number of data breaches tracked in 2014 hit a record high of 783, according to a report from the Identity Theft Resource Center, sponsored by IDT911. This represents a 27.5-percent increase over the number of breaches reported in 2013, and an increase of 18.3 percent over the previous high of 662 breaches tracked in 2010.
If you’re not convinced of the impact data breaches have on business success yet, be aware that 51 percent of consumers will take their business elsewhere after their retailer, bank or service provider suffers a breach that compromises personal information, including addresses, Social Security numbers and credit card details, according to a HyTrust Inc. poll. For retailers focusing on the powerful 35-44 age range demographic, that number jumps to 60.2 percent.
Only 55 percent of global consumers feel stores use security systems that adequately protect financial data against hackers and data breaches
Nearly three in 10 global consumers do not trust retailers to protect stored personal or financial data against cyber risks, and 58 percent think financial institutions do a better job of protecting data than retailers, government agencies or law enforcement.
As an enterprise security professional managing information and cyber security, your duty is to protect your company’s data and confidential communications from theft or loss.
Despite cyber risks being ranked as an equal or worse financial threat than natural disasters, companies continue to neglect to source cyber security insurance, according to a new Ponemon study.
Thirty-one percent of data breaches are caused by simple loss or theft, a new Forrester study reports, and another 27 percent of incidents are caused by unwitting misuse of data by an employee.
There will be 350 million employees using their own devices for work by 2014, a new report from Juniper Research says, compared to the current number of 150 million users.