Americans assume that, when they shop, their personal financial information will be kept private and away from identity thieves. Unfortunately, that is not always the case, as evidenced by the more than 4,000 data breaches that have been reported since 2005 -- an average of more than one a day over the last nine years. The latest headline-making breach involving the mega retailer Target is making many of us wonder just how safe our data is.
During the busiest shopping time of the year – the period between Thanksgiving and Christmas – Target, one of America’s largest retailers, suffered the second biggest data breach in U.S. history as 40 million credit and debit cards were compromised.
January 3, 2014
By John Breyault, Vice President of Public Policy, Telecommunications and Fraud Imagine that you’re the CEO of Target today. As one of the 25 most admired companies in the world, consumers’ trust in your brand is paramount to your success. Over the past week you’ve learned that your company is the victim of one of the largest retail data breaches in U.S. history. Cyber thieves compromised 40 million consumers’ credit and debit cards. To add insult to injury, the breach happened during the height of the holiday shopping season – the most important month in your company’s calendar.
December 16, 2013
NCL’s “State of ID Theft” Conference To Put National Spotlight on Continuing Problem
For thirteen years, the crime of identity theft has generated more complaints to the Federal Trade Commission than another other fraud. In 2012, more than 12 million Americans were affected by identity theft, costing the U.S. economy $20.9 billion. Every three seconds, a consumer’s identity is comprised by this pernicious crime.