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However, with this widespread adoption comes an equally significant risk which is the growing threat of databreaches and payment fraud. Source – credit card debt statistics 2025 and Australian debit card statistics ) As digital transactions continue to grow, so do the challenges of protecting sensitive customer data.
A databreach could ruin your business overnight. Are you prepared to deal with regulatory fines, lawsuits, costly investigations, disrupted operations, and destroyed trust while cybercriminals profit freely from stolen data? That’s the harsh aftermath companies face today following high-profile breaches.
As if Yahoo didn’t have enough on its plate, the tech company is now facing a probe from the Securities and Exchange Commission as to whether or not it could have acted more promptly in response to two massive databreaches that left over a billion customers’ information compromised. America’s DataBreach Problem.
Tokenization: Generative AI contributes to the implementation of tokenization, a technique that replaces sensitive data, such as credit card numbers, with unique tokens. These tokens are generated for each transaction, reducing the risk of databreaches. This provides digital payment methods with an additional level of security.
By Jeremy Smillie, VP of DevSecOps at Exact Payments In an era where databreaches are not just threats but realities, protecting Personally Identifiable Information (PII) is more crucial than ever. At Exact Payments, we understand the magnitude of the responsibility of handling such sensitive data.
Cyber frauds can take place in several forms, including: Identitytheft is when an attacker gets personal information about an individual and uses it to commit fraud without their consent. Dataencryption is the most effective way of protecting yourself from cyber fraud. Understand the Different Cyber Frauds.
Compliance with PCI Data Security Standard regulations prevents shortcomings and vulnerabilities in payment processing, thereby reducing the risk of fraud, identitytheft, and cyberattacks. TL;DR PCI DSS is a set of protocols to be followed by companies that store, process, and transmit cardholder data.
With growing concerns around databreaches, identitytheft, and unauthorized access, organizations need to ensure that only authenticated users can access their systems and sensitive information.
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