Modernizing Authentication — What It Takes to Transform Secure Access
Date: 12/14/2017 @ 1 p.m. ET
According to a recent report entitled Data at Rest is Data at Risk, more than 25 percent of the 16 million U.S. victims whose payment card data was compromised in a data breach in 2012 also suffered identity theft (h/t Infosecurity).
The study, conducted by Javelin Strategy & Research and commissioned by Identity Finder, also found that victims whose payment card data and Social Security numbers are exposed suffer the highest rates of related fraud.
In 2012, 4.4 million Americans were both notified that their payment card information was compromised in a data breach and suffered fraud on their credit or debit cards -- and 1.26 million Americans were both notified that their Social Security numbers were compromised in a data breach and became victims of identity fraud.
In the same year, 270,000 Americans were both notified that their online banking credentials were compromised in a data breach and suffered fraud on their financial accounts -- and 324,000 Americans were both notified that their bank account numbers were compromised in a data breach and became victims of fraud incurred against their checking, savings or other financial accounts.
"By breaching the data stores of businesses in the financial, healthcare and retail industries, criminals can obtain the fuel they need to execute various fraud schemes, and these crimes have crippling consequences," Javelin senior analyst Al Pascual said in a statement. "Identifying and protecting the sensitive information typically stored by these industries is essential for mitigating the risk of a data breach and, therefore, the risk of financial loss to data custodians, consumers and third-party businesses."
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