Last week, PCI Pal posted a short clip taken from an episode of the Simpsons (click here to view.) Mr. Burns and Smithers go through a multitude of multi factor authentication procedures to get to a control room, but someone has left the back door open and a stray dog has wondered right into the nerve centre of the operation.
All joking aside, this visually demonstrates most of the data breaches which have occurred of late, and there has been many. Facebook, Equifax, Delta Airlines, Lord & Taylor, Sears…. the list goes on.
Data breaches are on the rise. In 2017 there was a reported 1,453 data breaches in the U.S, up almost 25% from 1,093 in 2016. As hard as companies are working to secure data, the criminals are working harder to get it, and succeeding. The latest Data Breach Investigation Report 2018 from Verizon also shows that 28% of data breaches occur from the inside.
It’s very easy to get caught up with the numbers but one area which repeatedly gets overlooked is the consumer and how they react to it. Global Marketing Director Jane Goodayle picked this up in her article ‘Will Data Regulation Help Stop Data Breaches?’ which highlights a recent study from the American Institute of CPAs (AICPA). 81% of consumers are actively worried about how well businesses will protect their personal information and taking actions to safeguard their data.
So, with data breaches on the rise, the threat being from the inside and the outside and consumer confidence waning, what can businesses do to minimise the risk?
The most effective way to stop a data breach is to ensure there is no data there for criminals to take in the first place.
Products such as Agent Assist are designed to take sensitive card data out of scope of PCI compliance. It ensures that your agents never hear or see customer card details and the customer never has to speak these details out loud. Of course, this is just a small piece of the puzzle but it goes a long way to reassure consumers that data protection is being taken seriously whilst minimising the threat from the inside and outside.
To discuss Agent Assist or any of our solutions please contact one of our experts here.