As interactions between consumers and businesses become increasingly digitized, an enormous amount of data has become readily accessible to hackers seeking to take advantage of systems lacking effective security measures. It seems that each week there is a new report of a major data breach, with major corporations and even government agencies falling prey to these unscrupulous fraudsters.
CreditUpdates.com — as well as countless other credit reporting agencies — has been quick to warn consumers regarding the dangers of entrusting personal information without first verifying the manner in which their information will be used, stored and protected. Consumers should exercise a great deal of caution in this regard, especially when one considers the potential consequences associated with a data breach.
While consumers have to be careful when sharing personal data or sensitive information, businesses should also recognize their own responsibilities regarding cyber security. Some government agencies have suggested a series of escalating fines for any lack of attentiveness on behalf of the company in identifying potential threats that may ultimately lead to a sensitive data breach. Businesses should also take steps to prevent fraudsters from deceiving consumers by clearly outlining the manner in which it will contact its clients and the information it may or may not request via email or telephone.
Obviously, the fact that hackers have gained access to data held by institutions most would believe are already utilizing the most robust security systems available is disconcerting to say the least. This is why consumers have to play an active role in protecting their own data and to demand that businesses — particularly those that expect consumers to continue utilizing their products — do the same.
