There isn’t an industry safe from data breaches. Frombanksand credit organizations to hotel and restaurant chains,academic institutions and more, hundreds of millions of individuals have had their personal information stolen – all via the companies with whom they do business.
And although the case for why companies should protect consumer data is clear—companies lose less money and consumer information is safe from predators—what’s not often addressed are some of the more disconcerting aspects of data breaches. What ultimately happens to the stolen data and money? What are companies doing to stop the broader implications of fraud – beyond their bottom lines and brand perceptions? And, do companies have a corporate social responsibility to protect their customers and society as a whole from fraud?
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