File - Shoppers arrive at a Target store in Los Angeles on Thursday, Dec. 19, 2013. (AP Photo/Damian Dovarganes)
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Fighting online data fraudsters is almost impossible as their ability to hack into new technology often outpaces companies efforts to protect it, senior businessmen and bankers gathering for the World Economic Forum said.The mammoth data breach at U.S. No. 3 retailer Target has made executives even more aware of the need to improve safety standards, but the cost is often prohibitive. You can use them for intellectual property but not for everything," Wipro's Kurien said.With the rapid uptake of technology and hyperconnectivity both for personal and business reasons, people put privacy as their biggest concern with security ranking second, according to an international survey conducted for Microsoft and made public in Davos Friday. The Target data breach, a major talking point in the Swiss Alps, triggered a flurry of customer inquiries, reputation.com CEO Michael Fertik, a U.S. digital pioneer who helps 1.6 million customers to protect their digital identities.
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