By now, you probably know that the Target breach was one of the largest breaches of consumer data in American history. But in the time since, cybercrime has thrived and businesses are paying the price.
Six months after the Target data breach, the statistics are astonishing. Here are 5 worth knowing:
- Since the Target breach, there has been a major data breach discovered almost every month. Those breaches include Michaels Stores, Sally Beauty Supply, Neiman Marcus, AOL, eBay and P.F. Chang’s Chinese Bistro.
- A recent Ponemon Institute survey estimates 47 percent of all American adults have been affected by data breaches in the last year, with an estimated 432 online accounts being affected.
- There were more than 600 reported data breaches in 2013., a 30 % increase over 2012.
- The retail industry was the number one target, with nearly 22 percent of network intrusions occurring at retailers, according to the Verizon 2013 Data Breach Investigation Report.
- Cybercrime has cost the global economy $575 billion and the U.S. economy $100 billion annually, making the U.S. the hardest hit of any country, according to a report from Intel Security and the Center for Strategic and International Studies.
It’s crucial, now more than ever, to take precautionary steps to ensure valuable information is safe from cybercriminals. With Paymetric and its integrated and secure electronic payment and data security solutions, you can protect your organization and mitigate the risk of fees, fines and legal costs associated with a data breach.