The data breaches mentioned in this report exposed personal information that is useful to identity thieves for unlawful purposes. This information could include Social Security numbers, account numbers, and driver's license numbers. Some breaches that did not expose sensitive information have been included to underscore the variety and frequency of data breaches. The breaches include only those reported in the United States.
New laws and regulations regarding data security breaches and disclosure laws affect the way in which financial institutions do business. This study provides a review of the scope and impact of data security breaches in the financial industry in an effort to encourage proactive modification to risk mitigation technologies, policies, and procedures that reduce exposure to a data breach incident.