Best Practices for Notifying Consumers of a Third-Party Data Breach

According to recent studies, breaches are up 270% in 2020 and account takeovers of financial institutions’ consumers have increased 72% over last year. While there are many causes, for the fourth year running, the #1 attack vector remains weak and stolen credentials. The very human tendency to choose weak passwords and reuse them across multiple accounts puts your consumers at high risk of account takeover fraud, which can result in substantial losses – for them and for your business.

 

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