[Dataloss] America's Community Bankers Survey Results

[Dissent]

Thanks to list member baforestal at earthlink.net  who also submitted a 
link to this press release.

ttp://www.prnewswire.com/cgi-bin/stories.pl?ACCT=104&STORY=/www/story/02-07-2007/0004522563&EDATE=

A just-completed survey by America's Community Bankers reveals that 
data security continues to be a significant issue for community banks 
and their customers, and that card network and congressional action 
is necessary to address this far-reaching problem.

[...]

The following are some of the highlights from the ACB member survey 
conducted between January 26 and February 5.

     -- Of the 181 respondents, more than 96 percent said they issued 
debit cards, while 19 percent said they issued credit cards.
     -- In the past 24 months, 70 percent of respondents said their 
bank had to reissue cards due to data breaches three times or more 
and 39% said their bank had to reissue cards more than five times.
     -- Eighty-nine percent of the debit card issuers and 53 percent 
of the credit card issuers indicated that their customers had been 
affected by a data breach.
     -- Of those affected by a data breach, 92 percent had reissued 
cards to customers.

While not specifically asked in the survey, cumulative data reflect 
that the average cost for reissuing each debit card is approximately 
$10-20 per card. Therefore, a bank reissuing 10,000 cards three times 
at an average cost of $15 per card would incur a cost of $450,000.

[...]

--
Main site: http://www.pogowasright.org
Main RSS feed: http://www.pogowasright.org/backend/pogowasright.rss
Breaches RSS feed: http://www.pogowasright.org/backend/breaches.rss