Monday, 2 September 2013

Data Breach and Fraud—The Connection is getting Stronger

A person who has been a victim of a data breach has not always been a victim of fraud. But, the connection is getting stronger and stronger day by day. The new study of Javelin Strategy and Research surveyed 5,249 consumers to gather more statistics about the data breach and its link with fraud. From the 5,249 surveyed consumers, almost 630 of them were notified about data breach of their financial information. On the other hand, 51 percent of the fraud victims were notified that their data have been breached in the past one year.

For last past 3 years, the probability of becoming a victim of fraud of losing financial records has increased. In the year 2010, almost 4.4 percent of the U.S residents lost their financial information; nearly 12 percent of them also became a victim of fraud. There were only 1.4 percent fraud victims who did not breach data. In the next year of 2011, 4.4 percent of the Americans breached data, surprisingly more than 18 percent of the victims also became the prey of fraud. Only 2.4 percent of the Americans became just the victim of fraud. The increasing trend of losing data and becoming a fraud victim continued in the last year also. Out of the 5.3 percent U.S citizens who lost their data, more than 22 percent of them became a fraud victim. There were only 2.9 percent of the Americans who became only the victim of fraud not the data breach.

The probability that a person will also become a victim of fraud along with the data breach has been doubled. That has made the incidents of data breach even more hazardous for the user. In order to prevent yourself from data breaches and most probably fraud, use software that can lock folders . The incidents of data breach and frauds are getting more and more interlinked because hackers are not performing their mal activities for fun, but, to earn.

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