Data Breaches on the Rise

Keeping secure, stopping fraudsters access data they shouldn’t …passport info, national security numbers and payment details, are all very close to every Jumio’s heart. But last week The Wall Street Journal revealed that almost half of Americans have encountered a data breach1, but perhaps what is more shocking is that this figure may have contributed to what many retail analysts are calling “breach fatigue”. Breach fatigue occurs when consumers stop worrying about cyber-attacks because they appear in the news so frequently2.

It’s hardly surprising that is the case when breach notification letters and emails have become as common as spam mail; they’ve lost their impact! If people are no longer concerned about a data breach, are they still doing anything to protect themselves?

45% of US citizens state they have received a breach notification from a retailer or card-issuer stating their payment data had been affected by a breach3, showing us that identity theft is on the rise.

Identify and payment theft shouldn’t be taken lightly, victims are likely to have months of hassle trying to clean up their credit histories and recover stolen funds. And on top of lost time, money and emotional energy, victims rarely see anyone pay for the crimes.

The survey also found that more Americans than ever think they have been a victim of internet crime. 15% of people interviewed said either they or a member of their household had been hit by online fraud or hacking.

Here at Jumio we enable organizations with Netverify as a technology tool to help protect against cyber-crime. Tools like Netverify make it easier than ever to verify a person’s identity by turning a smart phone in to an ID document scanning and authentication terminal. Not only does the technology verify a person but it also helps meet KYC requirements and reduces fraud. This will only work though if people still care about not being the subject of a data breach! There is a New Year’s resolution in there for us all! Let’s keep our details safe!

1http://blogs.wsj.com/digits/2014/12/17/poll-shows-broad-impact-of-cyberattacks/?mod=ST1&ref=/news/technology
2http://www.pymnts.com/news/2014/almost-half-of-americans-have-been-sent-breach-notifications/#.VJg6aXAPA
3http://blogs.wsj.com/digits/2014/12/17/poll-shows-broad-impact-of-cyberattacks/?mod=ST1&ref=/news/technology

About Jumio Corp

Jumio delivers the next-generation in identity verification, enabling businesses to reduce fraud and increase revenue while providing a fast, seamless customer experience.

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