What took place this week in the credit card and payment industries
Last year marked a large shift in the world of data breaches. For the first time, Social Security Numbers were compromised more than credit cards. A staggering 16.7 million consumers were affected by identity fraud last year, an 8% increase over year-ago levels and the highest volume since Javelin Strategy & Research began their annual surveys in 2003. This fraud resulted in losses of $16.8 billion.