What You Should Know About Data Breach And This Holiday Season
"The illegal intrusion into computer systems is at a record high this year and climbing," Bill Whitaker begins in the recently aired 60 Minutes clip titled, "What Happens When You Swipe Your Card?" The data breach special was aired on CBS' 60 Minutes on November 30th. The message behind the video? It seemed to be grim at best. The general tone of the piece is serious, as Whitaker describes the seedy underworld of the credit card black market and the rapid rate at which both businesses large and small are getting hacked.
We now live in a technological world. Did it happen faster than we could comprehend the potential consequences of it?
Target suffered a 40 million dollar breach last year that affected millions of customers. The data breach was followed by hundreds of other breaches touching every possible sector of business from PF Chang, and Home Depot to Bebe. It seems that now we can't eat, build, or dress without someone trying to get ahold of our credit cards.
Why is this such a problem? During the 60 Minutes segment, Whitaker interviewed Cyber Security blogger Bill Krebs who has built a reputation on early detection of data breach-often alerting banks even before merchants know. When asked why most data breaches are discovered by people outside the company he said, "You know, they're running a business. And frankly they're not focused on cybersecurity."
See The Full Video Here: http://www.cbsnews.com/news/swiping-your-credit-card-and-hacking-and-cybercrime/
The rise of The Brilliant Hackers is in the news regularly; data breach dominates the headlines. Credit card theft isn't only happening in huge corporation's brick-and-mortar stores. eCommerce is another lucrative target for hackers. As eCommerce brings in billions every year, hackers are finding easy money in the thousands of small online businesses that have yet to invest in website security. Security vulnerabilities are found in 86% of websites, reported a leading website security company. The odds of getting hacked are high.
After a security breach businesses are sure to face massive fines. The bigger the breach the larger the sum. One breach can cost millions of dollars from loss of sales, a tarnished reputation, fines, and lawsuits. Businesses are "not focused on security," but they should be. It's the ultimate first step in securing both their financial future and the
financial future of their customers.
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