Data breaches go largely unreported

Posted by Barry Stamp in Identity Theft on 10 June 2015 - Barry is Managing Director at checkmyfile

When was the last time you saw a data breach story in the paper, or on the news? Did you even notice the last National Identity Fraud Week? Chances are, you’ve not seen anything in the media about data security breaches for some time. It’s just not news anymore.

That’s not necessarily a bad thing. We’ve been saying right from the start that identity fraud is over-exaggerated. But if it happens to you, we know only too well that it can be devastating.

In the US, high profile data breaches and hacks still command press attention, but here in the UK, it does not. Yet the Information Commissioner’s Office has advised that each one of the UK’s major banks and lenders has reported many incidents – the severity of which are not disclosed – in response to a Freedom of Information request filed by data encryption specialists Egress Software Technologies.

It was also disclosed that the financial services industry as a whole reported 585 security breaches in 2014, and 719 since January 2013.

So this means that identity fraud is on the increase again – or at least the reported incidence of it is on the increase.

In the UK there is no law that compels firms who suffer data breaches to advise those affected. If there were such a law, then chances are that almost everyone would have been notified by now.

Breaches don’t just happen in the financial services industry, they are rife. The onus, as always, is on each and every one of us to make sure that our personal security is a little bit better than the next man, so we become a smaller target for identity thieves.

You can find out how to do this using our FREE Identity Theft Check service. None of the answers you give are recorded – we simply use the information to give you personalised advice on how to tighten up a bit.

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