The normal train of thought is that cybersecurity professionals play an endless game of whack-a-mole, they adapt new defenses to keep hackers out only to learn that the hackers have discovered a new way in. However, David Robertson, the publisher of The Nilson Report, a data provider for the card industry, was recently quoted in the New York Times singing a different tune.
As far as protecting consumers from credit card fraud and data breaches, Robertson said, “the bad guys are getting good, and the good guys are getting even better.” According to the article, very few customers whose data has been compromised have to pay any real cost, minus the hassle of getting a new card and for those who do, the cost has been falling. This is because there are a number of laws in place to protect consumers and shift the burdens to the banks and retailers.
Check out the NYT’s piece to see some believe that stolen consumer information is less of an issue that it is made out to be.