In the past year, a number of consumers have been learned that their credit and debit card information may have been compromised.

How does this happen and what do people need to be concerned about?

Data breaches can occur in many ways, but lately, a number of these breaches involve criminals using malicious software to grab information from thousands of cards at one time, often from companies who process credit and debit card transactions.

Although consumers may be doing everything they can to protect their information, a data breach may mean that consumers could be at risk for having unauthorized charges posted to their accounts, or in more severe cases, having their bank accounts drained and their idenity stolen.

How do you know if you have fallen victim to a data breach and what should you do?

• In some cases your bank will notify you, offering to replace your card, restore your account, and provide additional assistance if your identity is stolen.

• In other cases, consumers learn of a problem when they notice that their bank account has been emptied, or

• They get strange bills in the mail.

The best way to protect yourself is to be sure to look over bank and credit card statements, and report any suspicious activity immediately.

The good news is, even though your information may have been stolen, it does not necessarily mean that your identity has been stolen or your account emptied.

How long after this breach has happened should consumers be watching their accounts?

At least a few years.

In fact, consumers should always check their bank and credit card statements regularly, regardless of a suspected theft, and report suspicious activity within 30-60 days.

Many banks limit the amount of time that you have to resove a dispute, so don't wait too long to report a problem.

If you wait too long, the bank may not be less helpful in restoring funds or correcting erroneous charges.