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Experian: Fraud, identity theft are problems that need to be addressed

Consumers and retailers need to be more aware of online fraud, identity theft, cyber threats - especially the companies holding our personal information
By: Michael Hatamoto | Hacking & Security News | Posted: Oct 14, 2014 2:30 pm

Information service company Experian wants consumers and businesses to be more aware of current fraud, identity theft, and cyber threats that face us every day. Cyberattacks largely were ignored by oblivious consumers, but recent point-of-sale (POS) attacks that hit the likes of Target and Home Depot has consumers more interested in potential threats.




"Serious risks are emerging for consumers and businesses as fraudsters identify new targets to attack," said Charles Chung, Experian Decision Analytics president, in a press release. "The monetary cost of fraud losses can be high, but the impact a loss or breach can have on customer relationships and brand integrity can be even higher. Combing comprehensive authentication processes with proportionate measures to monitor user activities and protect consumer data throughout the life cycle is a competitive requirement in today's market."


To help businesses better understand current fraud and cyberattacks, Experian is hosting the Future of Fraud and Identity summit on Monday, October 21 in New York City. It's a difficult time for companies trying to adapt to changing customer needs - and waves of cyberattacks that have been difficult to defend against.


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