August 24, 2016
Report: More than 700 Million Data Records Exposed in Breaches During 2015
Feb. 25, 2016
Hackers exposed more than 700 million data records in nearly 1,700 network security breaches around the world in 2015, according to the Gemalto Breach Level Index. The index, which has been reporting on breach numbers and severity since 2013, echoed what many other sources have been saying about the type of information that has become most prized by fraudsters and, consequently, most targeted by hackers: personally identifiable information that can be used in account takeovers and account creation fraud.
“In 2014, consumers may have been concerned about having their credit card numbers stolen, but there are built-in protections to limit the financial risks,” said Jason Hart, vice president and CTO for data protection at Gemalto. “However, in 2015 criminals shifted to attacks on personal information and identity theft, which are much harder to remediate once they are stolen. As companies and devices collect ever-increasing amounts of customer information and as consumers’ online digital activities become more diverse and prolific, more data about what they do, who they are and what they like is at risk to be stolen from the companies that store their data. If consumers’ entire personal data and identities are being co-opted again and again by cyber thieves, trust will increasingly become the centerpiece in the calculus of which companies they do business with.”
Account takeover and account creation fraud have become so challenging to CNP merchants and financial institutions, the CNP Expo established a special session devoted entirely to this topic. Check out the entire agenda and register for the CNP Expo today.