the Fraudian Slip Podcast: 2023 Annual Data Breach Report – Trends from Reported 2023 Data Breaches Filled with Startling Findings

James E. Lee, Chief Operating Officer of the Identity Theft Resource Center, breaks down trends from the reported 2023 data breaches highlighted in the ITRC’s Annual Data Breach Report

• The Identity Theft Resource Center (ITRC) recently released its 18^th annual Data Breach Report, which looks at the number of data compromises, the root cause of the compromises and much more.
• Some trends from the 2023 data breaches include a record number of data compromises (a 72 percentage point increase over the previous high), the number of data breach notices without specific information nearly doubling and over 10 percent of all publicly traded companies suffering a compromise.
• The top five data breaches in 2023 based on victim count were T-Mobile, Xfinity, PeopleConnect, Nationstar Mortgage and PBI Research Services (due to the MOVEit file transfer attack).
• You can learn more about the reported 2023 data breaches, trends and other topics discussed in the podcast by visiting our company website, idtheftcenter.org.
• If you think you have been the victim of an identity crime, call the ITRC toll-free by phone (888.400.5530) or live chat on our webpage to speak with an expert advisor.

Below is a transcript of our podcast with James E. Lee, Chief Operating Officer of the Identity Theft Resource Center

Welcome to The Fraudian Slip, the Identity Theft Resource Center’s (ITRC) podcast, where we talk about all things identity compromise, crime and fraud that impact people and businesses. Listen on Apple, Google, Spotify, SoundCloud, Audible and Amazon now. Typically, on this podcast, we would introduce a topic, a guest expert, and our CEO, Eva Velasquez. However, this month, we focus on trends from the 2023 data breaches reported and tracked by the ITRC, highlighted in the company’s annual data breach report. Put on your chin guard now because you don’t want to injure your jaw when it hits the ground as we review the numbers and the dynamics behind them.

We have ITRC Chief Operating Officer James E. Lee on the podcast to talk about the 2023 Annual Data Breach Report, which looks at the number of data compromises, the root cause of the compromises, the types of data compromised, trends, solutions and much more.

Some of the Top Trends from the 2023 Data Breaches Reported Include:

• The number of data compromises in 2023 (3,205) increased by 78 percentage points compared to 2022 (1,801). The ITRC set a new record for the number of data compromises tracked in a year, up 72 percentage points from the previous all-time high in 2021 (1,860).
• Data breach notices continued to lack detail (1,400+ in 2023 vs. 716 in 2022), resulting in increased risk for individuals and businesses as well as uncertainty about the true number of data breaches and victims.
• Nearly 11 percent of all publicly traded companies were compromised in 2023. Publicly traded companies withheld information about an attack in 47 percent of notices compared to 46 percent of other organizations.

Listen to a breakdown of all the findings above. You can download a copy of the ITRC’s 2023 Annual Data Breach Report highlighting all of the 2023 data breaches at our website, www.idtheftcenter.org/publications, or click here.

You can learn more about protecting your identity, privacy, or security or get help if you have been the victim of an identity crime by visiting the Federal Trade Commission’s website, www.identitytheft.gov.

Contact the ITRC

If you think you have been the victim of an identity crime or want to avoid becoming a victim, you can speak with an ITRC expert advisor toll-free on the phone (888.400.5530), chat live on the web or send us an email during our normal business hours (Monday-Friday 6 a.m.-5 p.m. PST). Just visit www.idtheftcenter.org to get started.

We will return next week with another episode of our sister podcast, the Weekly Breach Breakdown, and next month with another edition of the Fraudian Slip.