Security Breaches Rise, Yet Households Report Less Concern?
According to Javelin Strategy and Research, identity theft has risen for four consecutive years. Yet, in the 2017 survey from the Commerce Department’s National Telecommunications and Information Administration (NTIA), only 57% of households reported concerns regarding data breaches, compared to 63% in 2015.
Now, this would make sense if data breaches have decreased over time. But they haven’t. Instead, our society is simply becoming desensitized to them. In fact, in 2017, 16.7 million people were victims of identity theft, resulting in $16.8 billion in losses.
So why are we less concerned about identity theft than we have been in the past? One factor is the increased confidence in online privacy and security.
The latest NTIA results also reported a 11% decrease with household privacy and security concerns. More households are buying goods online, and taking part in online transactions, compared to 2015. Meaning, they have more faith in online security than they have in the past. But should they? Security breaches are being reported daily. Once users hand over their personal data to a third-party, whether it is a bank, retailer, social media platform, etc. it becomes that company’s obligation to keep the consumer’s data secure. Unfortunately, this often does not take place.
At the very minimum, users must monitor their bank statements for any fraudulent activity. It is also important to check credit reports on an annual basis for any questionable activity. However, if the user does not have the time, or desire to consistently be on the look out for fraudulent activity, they are encouraged to enroll in a identity theft protection service. PC Matic users are able to get IDShield, identity theft protection services, at a discounted monthly rate.
Don’t wait for a credit breach to affect you before you pay attention to security breaches. Avoid a very expensive lesson, and be proactive now.
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