Information Security Media Group (ISMG), publisher of BankInfoSecurity, announces the release of the 2014 Faces of Fraud survey report, sponsored by Easy Solutions, the Total Fraud Protection company.
In the wake of retail breaches at companies like Target and Neiman Marcus, banking/security leaders clearly feel abused and frustrated - and they want to see changes in how merchants conduct and process secure payments. This is the key theme of the 2014 Faces of Fraud Survey: The Impact of Retail Breaches.
Seventy percent of respondents to the survey say they or their customers were impacted by the Target breach, while 25 percent felt effects from Sally Beauty, and 24 percent from Neiman Marcus. And 48 percent believe the breached merchants ultimately should be held responsible for the compromises, while 28 percent say it's a shared blame because of the flawed payments system.
Of course, retail breaches are not the only topic covered by the Faces of Fraud Survey. The survey report, sponsored by Easy Solutions, addresses the extent of damage caused by retail breaches, with emphasis on:
- Impact of Retail Breaches - How have institutions been struck by Target, other major retail breaches? How will they respond?
- 2014 Faces of Fraud - What are the primary types of fraud against banking institutions, and where are the biggest security gaps?
- Deeper Dive - How have specific forms such as account takeover and insider fraud advanced in the past year?
- 2015 Fraud Agenda - Where will institutions make their biggest anti-fraud investments in the year ahead?
The 2014 study also benchmarks the most common fraud schemes, including payment cards, checks and phishing; the ongoing impact of account takeover resulting from ACH/wire fraud; the detection and prevention of insider crimes; and whether institutions see significant fraud reductions resulting from new investments in employee and customer education.
"The threat landscape is becoming increasingly sophisticated and the results of the Faces of Fraud Survey indicate that businesses across all sectors and geographies must take a proactive stance at fighting fraud," says Easy Solutions CEO Ricardo Villadiego. "Industry analysts and leaders agree that a multi-layered, integrated approach can dramatically reduce the risk of fraud while improving their customers' experience."
To download the report, please visit https://www.bankinfosecurity.com/handbooks.php?hb_id=55.
Results of the 2014 Faces of Fraud Survey will also be shared at major industry events in the months ahead, including ISMG's own international Fraud Summit series.
About the Sponsor:
Easy Solutions is a security vendor focused on the comprehensive detection and prevention of electronic fraud across all devices, channels and clouds. Our products range from fraud intelligence and secure browsing to multi-factor authentication and transaction anomaly detection, offering a one-stop shop for end-to-end fraud protection. The online activities of over 60 million customers at 220 leading financial services companies, security firms, retailers, airlines and other entities in the US and abroad are protected by Easy Solutions Total Fraud Protection platform.
Information Security Media Group publishes BankInfoSecurity, CUInfoSecurity, GovInfoSecurity, HealthcareInfoSecurity, InfoRiskToday, DataBreachToday and CareersInfoSecurity. These digital media sites offer news, views, research and education on the top industry, security, regulatory and technology challenges facing information security leaders worldwide. Each site is guided by an advisory board of renowned thought-leaders from business, government and education.
ISMG's suite of educational webinars offers hands-on training by knowledgeable practitioners and is available to individual and corporate subscribers.
ISMG's custom research, including the Healthcare Information Security Today, Faces of Fraud and Cloud Computing Security surveys, is routinely featured at leading industry events, such as RSA Conference and BAI Payments Connect.