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As data breaches attract more publicity, lawmakers and consumers are likely to expect more from the entities that experience them. Evidence of this trend can already be seen at the state level, by legislatures and attorneys general, many of whom are increasing requirements for reporting breaches.
The truth is even small firms that sell products online can be victims if one of their customers live abroad. Statistics show that global breaches are increasing rapidly. There were 2,644 worldwide breaches reported in 2012 – more than double the number reported in 2011.1 And as Big Data continues to grow, along with the use of cloud storage, global breaches will grow too.
When it comes to data breach incidents, an interesting dichotomy seems to exist. A newly released study finds that consumers believe they should receive identity theft protection or credit monitoring following a breach. Yet, the majority of breached organizations do not offer these services.