The outbreak of data breaches in recent years would make the question above pretty obvious…it’s a “yes.” Here’s my comment on the topic from a recent RetailWire discussion:
The ability of retailers to patrol their cyber-borders has been called into question by the Target data breach and many similar incidents. The bad guys seem to have the skill and speed to breach whatever boundaries are put in their paths by the most skilled IT teams. So, yes — overconfidence is a problem, especially when measured against consumers’ lack of faith about the same issue.
As to lessons learned? I would focus on faster reaction time to a data breach, as well as a more aggressive approach to a systemic and preventive solution. This may not solve 100% of the data breaches but will hopefully cut down on their frequency or severity.