Do you know how much a data breach REALLY costs?
Data breaches are expensive and on the rise. There were 246 million data records breached in the first half of 2015 alone. They create class action lawsuits, increased security costs and significant costs associated with reputational damage. They can also lead to sizable increases in chargeback fraud and customer spikes disputes …all of which drag your bottom line even more.
As stolen payment information floods the market, you walk around with a target on your back unless you have an end-to-end chargeback management strategy in place. High profile breaches can prompt an uptick in friendly fraud, which leads to increased consumer awareness about how easy it is to dispute a charge with their Issuer may create an unintended incentive to cash in on the hypersensitivity to fraudulent behavior.
True fraud will also occur as a result of a data breach the moment stolen information is sold to criminals or used to perpetrate illegitimate purchases; resulting in lost profits and goods/services on your end as legitimate cardholders file a dispute against fraudulent charges.
Get the facts and be prepared to protect your business.
“High Profile Data Breaches – The Different Impacts on Chargebacks Lurking Around the Corner” learn about…
- Compound cost of data breaches
- What you can do to prevent a fraud catastrophe from destroying your bottom line