Most people who have their identity stolen usually have the same initial response - "I never thought it would happen to me."
It's a common phrase because in reality, most people don't think something like that could happen to them. This flawed line of thinking is due to a number of reasons. Mainly, most people don't believe cyber crime is personal. Instead, they they have to make enemies in order to have their identity stolen. That is, unfortunately, not the case. In fact, most people don't care who they are stealing from and many identity theft cases come from complete strangers.
Businesses also cannot afford to make this same mistake. Vendors tasked with processing sensitive customer data cannot assume that their servers won't be attacked by criminals. Again, the type of vendor or the people behind the company are of little importance. What matters to the hacker is that there are a lot of customer profiles on those servers just waiting to be discovered and then used for illegal financial gain.
Earlier this week, Forbes featured an article about cyber security and warned companies and individuals not to take the "it would never happen to me" approach.
"If you're thinking, 'I don't need to do this because no one would want my data,' think again," the article said. "Your personal identify is priceless, and you don't want someone stealing it. As the criminals say, 'It's not personal; it's business.'"
That's why vendors must go the extra step to ensure they are maintaining PCI compliance. It's absolutely crucial for companies - particularly those in the B2B sphere - are providing their customers with the utmost level of security. This can be achieved through tokenization, which stores customer data offsite. It's a dangerous world out there, but working with a payment solutions provider can help companies do their part to keep themselves and their customers safe.