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Jan 28, 2015 10:34:00 AM

Four Ways to Reduce Bank Risk in a Consumer Data Breach

For the average consumer, a data breach most often looks something like this:

  • I use my card to make a purchase

  • Security measures are insufficient to protect my data

  • A hacker steals my records or card information

  • I report the theft to my bank

  • The bank sends a new card

  • I file a dispute with the bank for any charges that aren’t mine but still feel anxiety about using my card

In Q3 2014 alone, a scenario like this impacted 183 Million accounts, according to the Breach Level Index. In 2014, a record 783 big data breaches were tracked by the Identity Theft Resource Center. They hit almost every industry, with healthcare and retail/business leading the list. Big name corporations were affected – most notably, Target, Home Depot, JP Morgan Chase, Community Health Systems, New York, White Hotels and Neiman Marcus.

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Topics: Data, Data Security