Protecting Consumer Data in a Wireless World

How many times in the last year has your bank reissued your debit or credit card due to a security breach? As more consumer information is collected and stored in repositories for marketing and research information, many consumers are faced with the reality that their data is open to cyber criminals who are taking advantage of security holes to gain access to this information. This scenario has been repeated many times over the last several years resulting in consumers seeking measures to secure their data. The security breach at TJX the parent company of T.J. Maxx, Marshalls, and HomeGoods compromised over 94 million accounts resulting in banks spending millions of dollars to reissue credit and debit cards.

TJX has multiple legal actions against them for not properly protecting consumer data. Banks have filed claims stating the lack of security within TJX’s computer systems was the primary cause of this breach.

Like TJX, Monster experienced a significant security breach last year that compromised consumer information. The cyber criminals were able to obtain e-mail information allowing them to conduct “phising” attacks against Monster’s customers. Once again the lack of proper security measures, the retention of detailed customer data, and the ability to use the Internet and wireless services resulted in the security breach.