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Abstract:Data breaches continue to be a threat. Since January 2018, at least 13 consumer companies reported that customer information was made vulnerable.
Data breaches are becoming common for all kinds of businesses, including retailers.
Since January 2018, at least 13 retailers and consumer companies were hacked and likely had information stolen from them.
Many of these breaches were caused by flaws in payment systems that were taken advantage of by hackers.
Retailers who suffer data breaches risk losing their customers' trust.
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Data breaches are on the rise for all kinds of businesses, including retailers.
At least 13 consumer companies reported data breaches since January 2018. Many of them were caused by flaws in payment systems either online or in stores.
A report published by cybersecurity firm Shape Security showed that 80-90% of the people who log in to a retailer's e-commerce site are hackers using stolen data. This is the highest percentage of any sector examined in the report.
These data breaches are a real danger for both companies and customers, as they can damage the trust shoppers have in brands.
According to a study by KPMG, 19% of consumers said they would completely stop shopping at a retailer after a breach, and 33% said they would take a break from shopping there for an extended period.
But one expert from a personal virtual network service provider said that he's worried about the ultimate fallout from all these breaches.
“Due to frequent cyber-attacks and data leaks, people are becoming less attuned to privacy risks,” Daniel Markuson, a digital privacy expert from NordVPN, said in a statement. “This may lead to a careless attitude towards their own personal safety, and that would mean more severe damage for all internet users.”
Here are the consumer and retail companies that have suffered a data breach since January 2018:
Disclaimer:
The views in this article only represent the author's personal views, and do not constitute investment advice on this platform. This platform does not guarantee the accuracy, completeness and timeliness of the information in the article, and will not be liable for any loss caused by the use of or reliance on the information in the article.
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