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Technology Makes Life Easier - Especially If You're A Criminal

April 21, 2014

It would be nice if we could use technology without worrying about being hacked, losing our life’s savings or having someone steal our identity.

Unfortunately, we can’t.  Identity theft is a big crime and it’s becoming bigger.  The 2013 Identity Fraud Report from Javelin Strategy & Research found that identity thieves stole more than $21 billion from 12.6 million U.S. victims of identity fraud in 2012.

As Steve Viuker wrote in his article, “TalkING about DATA SECURITY,” in Banking New York, Target’s reputation took a big hit when its security was breached over the 2013 holiday season.

The cost for Target to restore its tarnished reputation will be much greater than what it would have cost to protect customer security and prevent the breach.  Other companies should learn from Target’s mistake and do their best to secure customer information before a breach takes place.

And, just in case, they should be properly ensured and should have a crisis communications plan in place.  Even companies that do the right thing are at risk.