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And while financial costs may be a factor, individual victims may face targeted phishing campaigns, social engineering schemes, identity theft, and damage to credit. Unfortunately, many organizations will still prioritize secrecy over consumerprotection in a bid to hush up incidents and protect their reputations.
And while financial costs may be a factor, individual victims may face targeted phishing campaigns, social engineering schemes, identity theft, and damage to credit. Unfortunately, many organizations will still prioritize secrecy over consumerprotection in a bid to hush up incidents and protect their reputations.
One of the more common ways cybercriminals cash out access to bank accounts involves draining the victim’s funds via Zelle , a “peer-to-peer” (P2P) payment service used by many financial institutions that allows customers to quickly send cash to friends and family.
Financial Data Protection Laws. financial data must comply with consumer-protection laws such as the Electronics Fund Transfer Act (EFTA) and a litany of regulations enforced by the SEC (such as Sarbanes-Oxley), CFTC, FISMA, and other financial regulatory bodies. Health data and patient data in the U.S.
The CCPA requires businesses to provide transparency about data collection practices and allows consumers to opt out of selling their personal information. Training should cover best practices for data protection, recognizing phishing attempts, and responding to security incidents.
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