Hackers on the Rise. 82,094 reported instances in 2002 52,658 in 2001 and 21,756 in 2000 (Source: CERT, 2003)) 55% increase – How many go unreported? Symantec reported 689 attacks on FI’s 48% of those attacks were severe (Source: Symantec, 2003)
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Source: Visa Canada
“Identity theft or fraud involves “stealing” another person’s identifying information, such as SIN number, DOB and mother’s maiden name, in order to to fraudulently establish credit, run up debt, and take over any financial or miscellaneous accounts, and obtain false documents”
- Ariana-Michele Moore
Impact on Financial Services Industry