Is this the biggest hack in history, so far? 77million people could be affected. You can bet that other non financial institutions are panicing and trying to get tighter security, now. All of this encryption and securing of data costs money and affects the infamous 'bottom line.' I would bet that most companies, who hold data ,will have the minimum protection, as required under the law of the country in which the data is stored. Some use storage agencies on a contract basis. For example American phone companies use firms in Israel to do customer charging work and store traffic movement data. So just how many businesses have your phone records, who knows?
Gamers, all over the World will be concerned about their data and rather illogically they will stop playing. The data is in the system so stopping using it won't help. New customers will be thin on the ground for a while.
Companies want to get money in and they know that the credit card companies will 'hold the baby' if things go wrong. This is part of the reason for high card rates of interest.
My worry has been supermarket chains. I use Tesco for shopping and delivery of groceries and household stuff.
so I use them merely as an example. They have my name,address and post code, they have my e.mail, they have my phone and mobile number and they got several different card numbers of Credit and Debit Cards that I use, depending greatly on which ones are 'maxed out' or not !!! I have no idea if Tesco run their own data bank or sub contract. Wall Mart do their own and have the biggest data storage facility. In fact, they have a contract with the US government for the Government to microwave data to them should the Government facilities come under attack. So wall Mart have enough spare capacity to take Government data plus their own Worldwide stuff. Now that is huge !!! Not all firms have the same facilities.
So I hope supermarkets and anyone storing data tightens up. With less loss of data perhaps credit card interest rates will come down. Blogger removes rose tinted glasses and moves on !!!!!
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