OurCrowd portfolio company BillGuard was featured in CBS MoneyWatch, a division of CBS News and personal finance website that provides advice on retirement, investing, savings, career and real estate. BillGuard identifies fraud and “grey” charges, which cost consumers over $25B annually, by analyzing crowdsourcing transaction data from its millions-strong user base.
Since Target’s (TGT) massive breach last December, more than 100 million card holders have had their data stolen. BillGuard, which offers an app that allows consumers to monitor for fraudulent activity, expects more data breaches at retailers this season.
“This is like the last hurrah for hackers to go after retailers who are using magnetic-strip credit cards,” Samid told CBS MoneyWatch. “There are three certainties in life: death, taxes and data breaches. If you are a holiday shopper, go into holiday shopping season assuming your card will be compromised in a credit breach and act accordingly.”
Read more on CBS MoneyWatch here.