Data Breaches Are Happening More and More Often
Companies lose your data all of the time. You remember Target, right? From the previous page? We were talking all about how terrifyingly insightful their data mining is, and how they know your life better than you do. Well, in 2013, they had a massive data breach during the peak of the holiday season. Hackers stole credit and debit card for 40 million customers and got email and mailing addresses for another 70 to 100 million, with overlap in those groups. Bear that in mind -- it's not just the credit card information. Fixing credit card fraud is relatively simple. However, having that information alongside your personal data opens you up to all sorts of nasty identity theft.
And just this year, Home Depot finally reached a settlement regarding their massive data breach in 2014, that wound up compromising the information of over 50 million credit card holders. In some cases, these companies are playing fast and loose with your data. In other cases, they simply don't know what it takes to protect information in the modern world -- and they're finding out the hard way.
Those are high-profile examples, but it's a widespread problem. From 2005 to now, there have been 6,079 data breaches, resulting in the theft of 862,527,023 records. (For comparison, there are only about 323 million people living in the United States right now. That's more than 2.5 records stolen per American citizen.) Other figures claim fewer breaches but even more records being stolen. On average, 32 data records were lost or stolen every single second in 2014.
Did you know...
- Once you've handled all your money, you should probably wash your hands. Money is some of the dirtiest things that we own. In fact, it's been found to be dirtier than a household toilet! During flu season, the virus can live on a bill for up to 17 days. That's just plain disgusting!
- When it comes to counterfeiters, North Korea are pros. They have gotten so good at counterfeiting American currency (particularly the $50 and $100 bills) they their fakes are known as "superdollars." They require specialized Federal Reserve equipment to be identified. There are $45 million worth of North Korean fakes…that we know of.
- Want a money saving tip? Ditch credit and debit cards, and stick to carrying around cash. Studies show people spend between 12 – 18% more when using a plastic card as opposed to when paying for things in cash. If you physically have to dole it out, you’re much more aware that you are spending your hard-earned money!
- Do you know what the lifespan of U.S. currency is? The higher the denomination, the longer it stays in circulation. Both $50 and $100 bills last 9 years. The $20 sticks around for 4 years. $10 bills circulate for 3 years. The $5 bill has a 2-year lifespan, and the $1 bill only lasts around 18 months before being retired. Coins last around 30 years.
- Paper money is actually pretty heavy. One pound would be worth $454 in $1 bills. That means $1 million comprised solely of $100 bills would weigh over 20 pounds. Those suitcases filled with money in movies must be hefty to lug around all that paper money. If you plan on robbing a bank, you better bulk up!