One of the key areas that has received a lot of attention over the last few years within organizations is data protection. And it’s easy to see why when you look at the statistics. Data fraud is one of the biggest threats to organizations as well as individuals globally.
In fact, billions of dollars are lost each year as a result of data fraud and customer data breaches. The numbers are startling. In 2020, 47% of Americans experienced financial identity theft, with approximately $712.4 billion being stolen, a significant increase from 2019. While companies strive to keep one step ahead of hackers, the reality is that data fraud evolves incredibly quickly.
Source: Best Practices in Managing Customer Data in a SaaS Business
Source: Cosmo Politian