Experian Data Breach Resolution releases its second annual data breach industry forecast
Look for more attacks on the cloud, continued vulnerability in the healthcare industry and the Internet of Things as an emerging breach t arget, among other trends in 2015
Costa Mesa, Calif., Dec. 1, 2014 — Preventing and managing data breaches have become two of the highest priorities facing businesses today. To help executives plan ahead, Experian Data Breach Resolution announces the release of its second annual Data Breach Industry Forecast, a white paper outlining key issues and trends to watch for in 2015.
Many evolving factors such as new threats, regulatory changes and technological advances make the data breach landscape difficult to navigate. After handling more than 3,000 data breaches this year and with a decade of experience in the industry, Experian Data Breach Resolution will share six key predictions in the white paper. This latest forecast highlights legislative and medical identity theft topics as well.
“It has been an explosive year with an increase in the number of data breaches and identity theft cases over last year, so we are sharing our perspectives with the industry to help businesses navigate this complex environment,” said Michael Bruemmer, vice president at Experian Data Breach Resolution. “It is more important than ever for companies to prepare for a data breach and stay ahead of the game.”
The white paper addresses several data breach industry topics:
• The rise — and fall — of payment breaches
Adoption requirements for Europay, MasterCard and Visa (EMV) “Chip and PIN” technology being implemented later this year may drive an increase in the frequency of payment breaches as the window closes for hackers to profit from this type of attack on brick-and-mortar retailers. However, businesses should be wary of the potential for the new infrastructure creating a false sense of security for consumers.
“New technology that would replace magnetic-stripe credit cards with a microchip is a step in the right direction to protect against cyberattacks on brick-and-mortar retailers, but it isn’t a silver bullet,” added Bruemmer. “Because EMV technology already exists in Europe, and the U.S. government publicly announced it will require implementation in the fall of 2015, cyberthieves likely already have identified vulnerabilities to target in the new infrastructure. It also doesn’t help those who have been a victim of a breach already so these consumers are still at risk for identity theft and fraud.”
• The persistent and growing threat of healthcare breaches
The expanding number of access points to Protected Health Information (PHI) and other sensitive data via electronic medical records and the growing popularity of wearable technology make the healthcare industry a vulnerable and attractive target for cybercriminals. Several factors suggest the healthcare industry will continue to be plagued with data breach headlines in 2015.
“The growing number of vulnerabilities and the sheer size of the healthcare industry led to an increase in widely publicized security incidents this year, representing about 42 percent of all major data breaches reported in 2014 ,” said Bruemmer. “We expect this number will continue to grow until the industry comes up with a stronger solution to improve its cybersecurity strategies.”
• A fresh breach surface via the Internet of Things
Like it or not, the Internet of Things is spreading rapidly, offering a wide range of benefits for businesses looking to review data and optimize performance. More devices are being created with Wi-Fi capabilities and sensors that create the opportunity for everyday items to relay information over the Internet and communicate with each other. As more companies adopt interconnected systems and products, cyberattacks also will likely increase via data accessed from third-party vendors.
“While the Internet of Things has huge potential, it also brings more points of vulnerability for organizations,” said Ozzie Fonseca, senior director, Experian Data Breach Resolution. “As companies adopt more interconnected products and systems, the Internet of Things could usher in the next wave of large third-party breaches. Businesses taking advantage of these technologies must address risk management and security with all of the platforms that collect or house personal information.”
To download the complimentary white paper, visit http://bit.ly/2015IndustryForecast.
Additional data breach resources, including Webinars, white papers and videos, can be found at http://www.experian.com/databreach.
Read the Experian Data Breach blog at http://www.experian.com/dbblog.
1 206 664 7843
Sandra A. Bernardo, APR
Experian Data Breach Resolution
1 949 567 3676
About Experian Data Breach Resolution
Experian Data Breach Resolution, powered by the nation’s largest credit bureau, is a leader in helping businesses plan for and mitigate consumer risk following data breach incidents. With more than a decade of experience, Experian Data Breach Resolution successfully serviced the single largest data breach in history and three out of the top four megabreaches and highest-profile breaches. The group offers swift and effective incident management, notification, call center support and fraud resolution services while serving millions of affected consumers with proven credit and identity protection products. In 2013, Experian Data Breach Resolution received the Customer Service Team of the Year award from the American Business Awards. Experian Data Breach Resolution is active with the International Association of Privacy Professionals, the Health Care Compliance Association, the American Health Lawyers Association, the Ponemon Institute RIM Council and InfraGuard and is a founding member of the Medical Identity Fraud Alliance. For more information, visit http://www.experian.com/databreach.
We are the leading global information services company, providing data and analytical tools to our clients around the world. We help businesses to manage credit risk, prevent fraud, target marketing offers and automate decision making. We also help people to check their credit report and credit score, and protect against identity theft. In 2014, we were named by Forbes Magazine as one of the ‘World’s Most Innovative Companies’.
We employ approximately 16,000 people in 39 countries and our corporate headquarters are in Dublin, Ireland, with operational headquarters in Nottingham, UK; California, US; and São Paulo, Brazil.
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1“2014 ITRC Breach Report,” Identity Theft Resource Center, October 2014