Data Breaches Hit a Significantly Large Group of Consumers.DUBLIN Dublin, city, Republic of Ireland Dublin, Irish Baile Átha Cliath, county borough (1991 pop. 915,516), Leinster, capital of the Republic of Ireland, on Dublin Bay at the mouth of the Liffey River. , Ireland Ireland, Irish Eire (âr`ə) [to it are related the poetic Erin and perhaps the Latin Hibernia], island, 32,598 sq mi (84,429 sq km), second largest of the British Isles. -- Research and Markets (http://www.researchandmarkets.com/reports/c43310) has announced the addition of the new report from Javelin Strategy "Data Breaches and ID Fraud: Misunderstanding Could Fail Consumers and Burden Businesses" to their offering. Misunderstanding data breaches and their effect on identity fraud may lead to incorrect Incorrect means to not be correct and may also refer to:
Primary Questions: * How does misunderstanding of data breaches and their effect on identity fraud impact businesses, government, and consumers? * How many individuals are being notified that they were a victim of a data breach and how likely are these individuals to become a victim of actual fraud? * How likely will a typical data breach cause identity fraud (based on nationally representative survey data)? * What is the current status of data breach legislation? Findings and Analysis: While public data breach notifications in 2005 reached into tens of millions of accounts, total annual identity fraud only increased four percent. The large number of data breaches and the publicity they have received has created the misperception mis·per·ceive tr.v. mis·per·ceived, mis·per·ceiv·ing, mis·per·ceives To perceive incorrectly; misunderstand. mis that fraud resulting from data breaches is prevalent prevalent widespread occurrence. . Javelin data indicates, however, that only six percent of all known identity fraud is generated from data breaches. The percentage of consumers who go on to suffer a fraud as a result of a data breach is only 0.8%, or eight out of every 1,000. Strict automatic data breach notification laws "regardless of risk" to the victim will saddle businesses with costly and unwarranted requirements, while providing little protective value to consumers. Audience: Financial institutions, online banking and risk/fraud divisions Overview Major Findings: * Consumer Fears Misplaced mis·place tr.v. mis·placed, mis·plac·ing, mis·plac·es 1. a. To put into a wrong place: misplace punctuation in a sentence. b. : Actual Data Breach Generation * Data Breaches Hit a Significantly Large Group of Consumers * Media Reporting about Data Breaches is Disproportionate dis·pro·por·tion·ate adj. Out of proportion, as in size, shape, or amount. dis  pro·por
* Can Consumers Be Better Protected by Less Burdensome Legislation? Table of Figures: Figure 1: Consumer Fears Misplaced: Data Breach impact Figure 2: Percentage of Consumers who were victim to a Data Breach Figure 3: Data Breach Identity Fraud Breakdown breakdown /break·down/ (brak´doun) 1. the act or process of ceasing to function. 2. an often sudden collapse in health. 3. loss of self-control. Figure 4: Understanding is Vital to Drafting Intelligent Legislation Companies Mentioned Include: * CardSystems * ChoicePoint ChoicePoint (NYSE: CPS) is a data aggregation company based in Alpharetta, near Atlanta, Georgia, USA, that acts as a private intelligence service to government and industry. For more information visit http://www.researchandmarkets.com/reports/c43310 |
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