2015 Data Breach Fraud Impact Report
- Date:June 04, 2015
- Al Pascual
- Report Details: 33 pages, 13 graphics
- Research Topic(s):
- Fraud Management
- Fraud & Security
- PAID CONTENT
Data breaches stole the spotlight in 2014. With a barrage of high profile retail breaches came a newfound awareness of the risk for consumers, financial institutions, and organizations across all industries. Financial institutions responded with mass card reissuance, preventing fraud, but incurring massive costs. Consumer concern is growing, but there is a widening gap between their attitudes and actions.
This year Javelin included our first forecast of the relationship between data breaches and fraud. As data breaches account for a growing portion of fraud, demand for different types of credentials and identifiers will move in lockstep with changes in the U.S. fraud environment. While point of sale data dominated 2014, it will give way to card not present data. Credentials with little apparent relationship to financial fraud will become more important as a facilitator of new account fraud and account takeover.
- How will the relation between data breaches and consumer identity fraud change over the next four years?
- How will the prevalence of different fraud types change over the next four years?
- How are financial institutions responding to data breaches? How effective is their response?
- How are data breaches impacting the breached organizations?
- What can different industries do to reduce their risk of suffering data breaches?
- How can consumers be empowered in the fight against breach-related identity fraud?
Companies Mentioned: Anthem, Apple, Book2Park.com, ebay, Home Depot, Kmart, MasterCard, mSpy, Neiman Marcus, Premera, Target, Visa
- The 2014 ID Fraud survey was conducted among 5,000 U.S. adults over age 18 on KnowledgePanel; this sample is representative of the U.S. census demographics distribution, recruited from the Knowledge Networks panel. Data collection took place from Nov. 11 to Dec. 2, 2014.
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