Once relegated to the back pages of local newspapers, today’s data breaches are prime time news. Negative media coverage is often accompanied by scrutiny from public officials and foreboding consumer notifications, all of which emphasize the increased risk of identity fraud after a breach. Once thought to be a theoretical consequence, new evidence clearly shows consumers become less apt to open their wallets and patronize a company after a data breach. In addition to potential lost business and goodwill, a breached company may find itself saddled with the cost of litigation and subsidizing identity protection services for affected consumers

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