Experian’s top 6 Data Breach forecasts for 2015

Your wireless costs might increase because of COVID-19 – but they won’t if you follow these 3 steps.

data breachesThis is a summary of the Experian report. It can be read here in its entirety http://www.experian.com/assets/data-breach/white-papers/2015-industry-forecast-experian.pdf.

Decrease in Point of Sale Breaches

New regulations requiring retailers accepting credit cards to adopt new EMV “Chip and PIN” technology by October 2015 (or be financially responsible for any breach theft) should create a major roadblock in this area, for now. Due to this being such a profitable target for cybercriminals this will always be an area they will focus on and continue to find ways around the defenses.

Data stored in the cloud will become a bigger target

Identity theft will likely increase substantially in 2015 due to cloud-stored data being compromised. Consumers will need to be mindful with their passwords (i.e., using different ones, changing them more frequently, making them long and complex), not ignoring data breach notification mailings they receive and using an Identity Theft protection service.

Persistent and growing threat of Healthcare breaches

The cost of these breaches is estimated to top $5.6B in 2015. The rise in EMR (Electronic Medical Records) and wearable technology devices create more connections, thus more potential points of vulnerability, all that lead to patient’s personal data/identity theft opportunities.

Business leaders at the highest levels will face additional accountability

Breaches are no longer viewed as an IT problem, but rather a Corporate issue and the buck will stop at the C-Suite. Shareholders, customers and board members will insure that senior executives have breach prevention and breach response plans in place, or pay the price with their jobs.

Despite best efforts, the biggest threat will not be diminished

Last year nearly 60% of all threats originated from within. Current employees, through errors and/or maliciousness, caused by far the largest amount of damage and losses. All indicators are that since this area continue sot be unreported and largely ignored, it will continue without much change in 2015.

Expect an increase in third party breaches stemming from the Internet of Things

Gartner projects that there will be over 25 BILLION devices connected to the internet by 2020. The increase in potential breach points is undeniable and will result in a sharp increase in breaches through these devices.

Worth noting: last year Experian was correct on 5 of their 6 forecasted trends for 2014.


[author_bio username=”Barry”  name=”yes”]

*this article was originally published on the LinkedIn Publishers Network 1.14.15

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