Identity issues cost retailers millions

Quick Summary:

As we approach the peak holiday shopping season a new survey of nearly 400 IT security decision-makers and retail customers from identity specialist HYPR shows that 58 percent of retail organizations experienced at least one authentication-related breach and 65 percent were victims of identity fraud over the last 12 months.

Retailers have suffered losses of up to $6.27 million in the last year alone due to insecure authentication methods.

By contrast financial institutions reported only $4.57 million lost during the same period.

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Article Details

Author / Journalist: Ian Barker

Category: Technology

Markets: United States

Topics: Cybersecurity Identity Article Fraud Retail

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-26 @ 10:24:10 (13 hours ago)

News Timezone: GMT +8:00

News Source URL: betanews.com

Language: English

Article Length: 369 words

Reading Time: 3 minutes read

Sentences: 19 lines

Sentence Length: 20 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © BetaNews

News ID: 23886168

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News Last Updated: 8 hours ago

Coverage Areas: United States

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