Over a third of the financial institutions surveyed by Deloitte had data problems. This is a cause for concern, but the article is not too worried about it – it says that these institutions have been able to get their act together for the most part.
According to a survey, US public institutions are pretty sloppy with their data. Although we don’t know any European research, the situation is probably not much better here. But back to America: the Equifax service, which also handles US social security numbers, has lost 143 million records. The hackers obtained several personal data: name, social security number, date of birth, address, driver’s license number, etc.
Did you know?
There are many problems with data security in banks, and according to the article, these problems are not too worrisome because of the following: “with an estimated $3.2 trillion of assets under management at financial institutions globally, these data breaches would represent only a tiny percentage of the total.”
Deloitte is a big name in the financial world. Their September 2016 report “A survey of data quality in financial institutions” is about how many financial institutions had data problems. There were 6,000 respondents – a third said that they had data problems.