Wednesday, April 9, 2014

News Scan: Consumers put retailers on data breach notice...

Retailers are being put on notice by consumers that they hold them responsible for preventing future data breaches, such as those experienced by Target and Neiman Marcus. A recent study by Feedzai, a big data science company, reveals that "60 percent of those who knew about any data breaches at notable retailers, such as Target and Neiman Marcus, hold the merchant responsible for preventing future incidents." The "2014 Consumer Reaction to Financial Data Breaches Study" also found that 43 percent of respondents think nothing is more aggravating than having credit or debit card data stolen. "These findings show that consumers believe it is the merchant's responsibility, but really it is a collective problem that the industry needs to understand in order to distinguish customers from criminals and keep payment data safe," said Dr. Pedro Bizarro, chief data scientist at Feedzai said in an email to FierceCIO.

(Read my complete article at FierceCIO)

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