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According to the IdentityTheft Resource Center’s (ITRC) 2023 Business Impact Report , 73% of small business owners in the US reported a cyber-attack within the previous year, underlining the growing popularity of small businesses as a target among malicious actors.
Accidental data leaks by insiders mishandling information also trigger breaches frequently. For customers exposed to breaches, identitytheft risks skyrocket, leading to bank/credit card fraud plus medical/tax/employment fraud. Partner with cybersecurity experts and put proven best practices into action this quarter.
This week’s data digest is all about, well, data. The latest report from the IdentityTheft Resource Center (ITRC) and CyberScout finds a worrying trend: 2016 was a record year for data breaches, with businesses emerging as the largest target for hackers by far. 1,093 data breaches hit entities in the U.S.
Datasecurity has become an essential aspect of our lives and is more crucial than ever before. In the healthcare industry, organizations are entrusted with a plethora of sensitive information, including PHI, PII, and financial data. What is datasecurity in healthcare? million between May 2020 and March 2021.
Looking at research from the IdentityTheft Resource Center, QuickBridge pointed to small businesses in the healthcare, banking and finance, and retail sectors as particularly popular targets for cyberattackers. Like the FTC, QuickBridge emphasized the role of employee training in protecting against cyberattacks.
state employment programs to phishing scams with bad actors claiming to represent retailers — such as luxury brand Vince Camuto in one recent email scam — to good old-fashioned identitytheft. Digital-first banks, insurance firms and merchants are tasked with protecting against the schemes to keep their customers’ datasecure.
CardSystems Solutions Data Breach (2005) In 2005, CardSystems Solutions found itself at the epicenter of a seismic data breach that rippled across the financial sector. The breach exposed the sensitive credit card information of millions, igniting concerns over datasecurity and regulatory oversight.
Banks, businesses and others still have numerous fraud problems to address, from text-based scams and phishing to synthetic identitytheft. Each of these tools has strengths and weaknesses when it comes to datasecurity and protection, however.
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. Additionally, merchants should protect themselves from security breaches by backing up their data.
At 71 percent, as estimated by one secure payments processing firm, identitytheft is the most common type of fraud. Phishing follows close behind at 66 percent. Retailers and merchants are losing more than $3 for every dollar of fraud incurred as recently as 2014, and that number was up from $2.79 the year before.
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