Credit Card Data Breach 2017

By: Adam Singleton

Credit fraud has always existed to some degree, but with the advent of the internet, there has been an unprecedented level of awareness and consumer concern about falling victim to identity theft. Almost every day 'phishing' emails - which pretend to come from banks - try to extract passwords and personal details from consumers.

  • U.S. credit card fraud is on the rise
    About 31.8 million U.S. consumers had their credit cards breached in 2014, more than three times the number affected in 2013.
  • This fraud isn't cheap. Nearly 90% of card breach victims in 2014 received replacement credit cards, costing issuers as much as $12.75 per card. 5

List of Data Breaches in 2017
Some of most highly publicized credit card data breaches in recent year in America:

  • EBay: 145 million records accessed
  • Home Depot: 109 million records accessed
  • JP Morgan Chase: 83 million records accessed
  • Michael's Stores: 3 million records accessed
  • Staples: 1.16 million records accessed
  • Domino's Pizza: 650,000 records accessed
  • Sony Pictures Entertainment: 47,000 records accessed
  • Target: 40 million credit card numbers and 70 million addresses accessed
  • Nieman Marcus: 350,000 cardholders impacted

Becareful of Unprotected PC
Most people know that an unprotected PC can be disabled by viruses and Trojans within hours and install antivirus software to protect it, but not everyone remembers to keep the antivirus software up to date.

  • Tightening up on internet security is absolutely essential as a first defence to identity theft attempts. 

It is Easy to Commit Credit Card Theft
In reality criminals don't need to get their hands dirty or even leave their homes to commit identity theft.

  • They only have to look on social networking websites such as Friends Reunited and track down the addresses of potential identity theft victims using websites that publish electoral roll details such as 192.com.
  • It really is worth thinking about removing your personal details from such sites, or at least weighing up the risks and the benefits of subscribing to social networking sites, in particular to ration critical information such as place of birth. Any identity fraud criminal, based anywhere in the World, can lawfully obtain a birth certificate from a government website, armed with your place of birth.

Credit Card Data Breach 2017
Many consumers don't realise that identity theft is routinely used by drug smugglers, people traffickers, prostitution racketeers and in other forms of serious crime. Most believe that the main issue arising from identity theft is credit fraud, where credit is obtained by impersonation. Many loans and credit cards can be obtained without ever having a face-to-face meeting with the service provider. And credit fraud is where consumers appear to have the greatest fear of falling victim to identity theft.

If 2017 was an indicator, 2018 data breaches may get even more serious. So becareful with your credit card data.

Identity Theft
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