Even though this breach happened in January, it is finally being revealed to the rest of the world.

In a report from WebUser we find one of the major security issues that is facing our cyber world regarding everyone's electronic data.

"Credit card details of thousands of customers of Cotton Traders were stolen following a hack of the clothing firm's website.

Cotton Traders, set up by two ex-England rugby players, confirmed that it was the victim of a hack last January but has refused to reveal the size of the breach.

A spokeswoman for Cotton Traders told Web User that the figure of 38,000 customers,

as reported by the BBC, was "way off the mark", but declined to state the exact number of customers who had their credit card details stolen."

This is a perfect example of the reluctance of any business to report a breach in their electronic security.

California, even though by law companies are required to report data breaches, many businesses prefer to keep quiet to protect their profits.

If they report being compromised they risk losing their customer base.

Many find it easier keep it quiet and risk the wrath of the government rather than certain loss of their company.

Banks are also finding it much more expedient to keep security breaches to themselves rather than let their customers know how much money they are losing on a regular basis.

This bodes well for cyber crooks who continue merrily on their way to cyber riches, because if their exploits aren't being exposed, how can they get caught...