NEW YORK (TheStreet) --Companies are collecting an ever-increasing amount of information on their customers via the cloud and mobile devices. Faceless cyber attackers are licking their chops at an opportunity to profit.
Target's (TGT)holiday 2013 data breach was one of the harshest examples of the risks to consumers and businesses from cybercrime. However, the fact is that companies from Starbucks (SBUX) (leading in mobile payment) to Nike (NKE) (wearable devices and apps) and Amazon (AMZN)(cloud) are thriving on data to improve their financials, but are also at risk of attacks as cybercriminals become more sophisticated.
According to data from internet security firm Symantec (SYMC), over 552 million identities were exposed by way of data breaches in 2013, up 62% compared to 2012. Roughly 38% of mobile users have experienced mobile cybercrime in the past twelve months.
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TheStreet talked at length with Symantec's chief operating officer and executive vice president Stephen Gillett to dive deeper into the major issue of cyber attacks, and how Symantec is addressing them though its products, services, and long-term research and development investments. Gillett was also instrumental in building the digital experience as executive vice president of digital ventures and chief information officer at Starbucks, leaving the coffee king in March 2012 to join Best Buy (BBY) as executive vice president and president, digital, global marketing and strategy.