Fraudsters Hackers & Thieves!

Fraudsters Hackers & Thieves!
How can we better protect our customers?

It’s official: consumers do not feel their
private data is being kept private
Looking around at the headlines, where high-
profile breach after high-profile breach is
documented, the lack of trust in data security is
no surprise.
Whether it be through a corporate breach, where
consumers’ confidential information is revealed as
part of thousands of records stolen or
inappropriately handled, or an attack that they
themselves initiate via inappropriate use of their
personal computer or mobile phone, or anything in
between, breaches have caused consumer distrust
to become rampant when it comes to whether or
not their personal information is being kept safe.
This is hammered home in a recent Global Survey
on Internet Security and Trust report from
CIGI-Ipsos, in which only 38 percent of consumers
surveyed trusted that their activities on the
internet are not being monitored.
64%
of consumers are more concerned
about their online privacy than a
year ago.
of consumers do not trust that
their internet activity is private.
62%
Source: CIGI-Ipsos Global Survey on Internet Security and Trust

Stop for a moment and think
How much of our lives are now conducted online,
or are connected in some way?
When you wake up in the morning, you likely
check personal and perhaps work email from a
tablet or mobile device. You might update
Facebook, Instagram or Twitter. You may ask your
Amazon Echo what the weather and traffic is like
on your way to work. You might place a grocery
order online, or order a new supply of toilet paper.
On the ride into work, you might use a Bluetooth
headset to listen to voice mails or catch up on the
day’s headlines.
When a large majority of our everyday life is
conducted online, how did the industry get to a
point where the consumers who have bought
into this “connected vision” don’t feel safe being
online?

Data breaches have consequences far
beyond the fines
Symantec conducted a survey on privacy within
the European Union, and found that 59 percent of
respondents have experienced a data protection
issue in the past.
Reported issues included being notified of a data
breach by a company that had access to some of
their personal information, having an email or
social media account hacked, having bank details
stolen, being a victim of online identify theft,
getting a computer virus, or responding to an
online scam or fake email.
Overall, 57 percent of respondents reported being
worried that their data is not safe.
of survey respondents
have experienced a data
protection issue.59%
TOP PRIVACY & SECURITY CONCERNS
Identity Theft
Banking Fraud
Data Collection
Personal Data Loss
45%
23%
22%
63%
Source: Symantec State of Privacy Report 2015

The more connected online, the greater
the risk
The National Telecommunications & Information
Administration (NTIA) in May released a report
that correlates how connected we are online with
a higher risk of data breaches.
The report found that 9 percent of online house-
holds that used just one type of computing
device (such as a desktop, laptop, tablet,
Internet-connected mobile phone, wearable
device, or TV-connected device) reported a
security breach.
While 31 percent of those that used at least five
different types of devices reported a breach.
1 2 3 4 5+
9%
14%
25%
31%
Devices
Breaches
19%
Consumers using multiple
devices are at a higher risk
of data breach.
Source: U.S. Census Bureau NTIA Computer and Internet Use Supplement

Fears and distrust about privacy, security
change how consumers use the Internet
Furthermore, there is a potential economic impact
to consumers’ distrust. The report also found that
consumers are so concerned with privacy and
security on the Internet that their household
opted out of participation in certain online
activities.
Forty-five percent of online households reported
that these concerns stopped them from
conducting financial transactions, buying goods or
services, posting on social networks, or
expressing opinions on controversial or political
issues via the Internet, and 30 percent refrained
from at least two of these activities. In households
that experienced a breach, these percentages are
even higher.
This fear and distrust is not without good reason.
In Symantec’s April 2016 Internet Security Threat
Report (ISTR), the security firm estimated that if
all breaches that occurred in 2015 reported the
number of consumers worldwide impacted, it
would total an estimated half-billion people.
40%
ONLINE ACTIVITIES STOPPED DUE TO PRIVACY & SECURITY CONCERNS
Conducting Financial Transactions
Buying Goods | Services
Posting on Social
35%
35%
Source: U.S. Census Bureau NTIA Computer and Internet Use Supplement

Credit card numbers? Actually, there’s
a new kid in town
Financial information such as credit card
numbers are still coveted information, although
their per-card value is going down and their shelf
life is short since credit card companies and credit
card owners are using technology to shut down
fraudulent transactions quickly.
Instead, the new sought-after information
being targeted is information from insurance,
government and healthcare organizations.
The more details someone has about an
individual, the easier it is to commit identity fraud,
and targeting these groups provides more
complete profiles of individuals to criminals.
Real names are still the most common
(78 percent) type of information exposed,
according to the ISTR, followed by home
addresses, birth dates, Government IDs (such as
Social Security numbers), medical records, and
financial information.
The more details someone has about
a person, the easier it is to commit
identity fraud.
TOP INFORMATION EXPOSED
Real Names
HomeAddresses
Birth Dates
Gov. ID Numbers
Medical Records
78%
44%
41%
38%
36%
Source: Symantec Internet Security Threat Report Vol. 21

The key to success, tailor the experience
to meet the individual user
Businesses can and should be doing much more
to secure customers’ private and oftentimes
sensitive information, reducing the risk for
everyone.
History has shown that when encryption
solutions—including email encryption—are
deployed properly, they work well.
But communications with customers requires a
different set of criteria than internal
communications or communications with partners.
User experience is key, according to a recent
research note from Gartner, consumers are likely
to resist the installation of third-party software or
apps on their devices to access secured content.
FOCUS ON USER EXPERIENCE
Through 2020, 95% of cloud
security failures will be the
customer’s fault. *Gartner
Source: Gartner Guide to Email Encryption

So, how can you better protect your
customers?
In summary, consumers today have become much
more discerning about their online activities, and
know controlling their online activity plays a role
in helping protect their privacy.
The organizations they do business with need to
take the security of customers’ private data just as
seriously, and invest the time, effort and budget
into ensuring its safety.
About Echoworx
Since 2000, Echoworx has been bringing simplicity and
flexibility to encryption. Echoworx’s flagship solution,
OneWorld Enterprise Encryption, provides an adaptive, fully
flexible approach to encryption that ensures the privacy
of sensitive messages. Enterprises investing in Echoworx’s
OneWorld platform, are gaining an adaptive, fully flexible
approach to encryption, creating seamless customer
experiences and in turn earning their loyalty and trust.
Recommended Reading
How Effective B2C Encryption Protection Works
Top Banks Demand Performance & Volume
OneWorld Enterprise Encryption
Why OneWorld Encryption with Office 365?
Email encryption doesn’t have to be cryptic

www.echoworx.com
info@echoworx.com
NorthAmerica 1 800.346.4193 | UK 44 0.800.368.5334
@Echoworx

Fraudsters Hackers & Thieves!

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