With compromised credit cards and data breaches dominating the headlines in the past couple of years, it’s hard not to have some concern about fraud. Technology such as EMV promises to make some payments safer, but experts predict fraud will remain a growing problem for years to come.
Data breaches totaled 1,540 worldwide in 2014 — up 46 percent from the year before — and led to the compromise of more than one billion data records. 1 Twelve percent of breaches occurred in the financial services sector; 11 percent happened in the retail sector. 1 Malicious outsiders were the culprits in 55 percent of data breaches, while malicious insiders accounted for 15 percent.