Report: Breach Victims More Susceptible to Fraud
DATA LOSS—U.S.June 30, 2011
Victims of a data breach are more than four times as likely to become victims of fraud than other consumers, Reuters reports. That's according to the Javelin Strategy and Research annual report, which says credit card companies should be doing more to alert customers to potential dangers, such as notifications when issuing new cards or changing billing addresses. The report also notes that hackers have become more sophisticated, threatening "the current security model, resulting in a call to action for issuers to take a strong look at the processes in place for detection and prevention of fraud," said Javelin's Philip Blank.