Impact of Data Breaches on Plastic Money Users

Plastic money has increased the number of transactions through bank accounts. Due to the use of plastic money the most of the transactions are taken place through the bank accounts directly and this will definitely reduce the supply of black money and quota notes circulation in the society. the main Objectives of this study is to analyse the consequences of data breaches on plastic money and to study the steps to be taken to avoid data breaches. Data breaches expose personal information to unauthorized individuals, violating privacy and potentially leading to unwanted contact or harassment. It also affects Credit score impact Bank account access, Legal penalties, Emotional distress, Identity theft and Financial losses. This indicates that data breaches deeply affect the people in to financial losses.