Did you know XOR offers a free resource to protect your customers from identity theft and fraud caused by data breaches? Check out the Compromised Identity Exchange Basic platform and join us in the fight against fraud! Here is the latest in data breach reports and related news from June.
New Data Breaches Reported in June 2017
Javelin Advisory Services reported a 31.7-percent fraud rate among consumers who were involved in one or more recent data breaches. The growth resulting in $12 billion worth of fraud losses.
Following two years of recovery after Anthem’s massive data breach involving 80 million compromised records, the company has agreed to a $115 million settlement, subject to a judge’s approval. This would present the largest data breach settlement to date, if approved.
According to IBM’s Cost of Data Breach report, global incident recovery costs have declined 10 percent in the last year. For the United States, however, costs have increased by 5 percent.
Global insurance underwriter Beazley reported 39 percent more data breach cases in Q1 of 2017 than it did in Q1 of 2016. The insurer has also identified emerging trends in security compromise events.
IT and security teams often take the brunt of blame when it comes to data breaches, but security standards must be implemented across every business unit in order to truly protect customers. Forbes examines marketers’ roles in data protection.
Luxury retailer Neiman Marcus has gained approval on its $1.6 million settlement following a class action lawsuit of a six-month leak of credit card data at its stores.
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