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Surging Losses, but Few Victims in Data Breaches
From: Dissent <Dissent () pogowasright org>
Date: Wed, 27 Sep 2006 11:55:53 -0400
http://www.nytimes.com/2006/09/27/technology/circuits/27lost.htm (reg. req.) [... ] Regardless of the data breach, a rise in financial fraud has not surfaced. Visa and MasterCard report that about 2 percent of the card accounts lost or stolen in the last 18 months have been used to make fraudulent purchases. That is within the range of the 1.5 percent and 4 percent of consumers who reported being victims of financial fraud or identity theft, surveys say. Card companies say that fraud losses in 2005 over all were about 6 cents per $100 for merchandise bought on credit, a low level that has varied little in the last few years. (Numbers were much higher years ago; for example, in 1992, losses accounted for nearly 16 cents per $100 for merchandise bought on credit.) "The amount of fraud from these data breaches is remarkably small," said Chris Thom, the chief risk officer for MasterCard. [... ] _______________________________________________ Dataloss Mailing List (dataloss () attrition org) http://attrition.org/dataloss Tracking more than 136 million compromised records in 375 incidents over 6 years.
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- Surging Losses, but Few Victims in Data Breaches Dissent (Sep 27)
- Re: Surging Losses, but Few Victims in Data Breaches blitz (Sep 27)