Over the last year, there have been countless debates over the hows and whys of the massive retail breaches the world has witnessed—including those affecting major chains such as Target, Neiman Marcus and P.F. Chang’s, just to name a few. Undoubtedly, the 2014 Faces of Fraud Survey results were deeply impacted by these incidents as banking and security leaders are just starting to deal with the consequences.
More than 300 industry executives participated in the survey and the results are quite telling:
- 70 percent of the banking and security executives surveyed admitted that they and/or their customers have felt the effects of the Target breach.
- Over half (60 percent) of the respondents admitted to having reissued credit cards to their customers.
- 62 percent of respondents learned of fraud incidents from their own customers.
In addition to the results, the 2014 Edition of the Faces of Fraud Survey results presents insightful debates over key topics, including an exclusive analysis from industry leaders on how a multiple-layered approach is the most effective strategy for fighting cyberthreats and an in-depth conversation between Tom Field, VP of Editorial at ISMG and Easy Solutions’ CTO Dan Ingevaldson on how financial institutions can put the results of the survey to work.
See all the results and expert commentary here.