No one would argue that 2018 was a turbulent year for cybercrime and identity theft, and there’s no doubt that we’ll continue to outpace this volume and velocity. How can organizations empower themselves – and their employees – to protect sensitive personal and company data?
Consumer trust has taken a hit over the past year. Retailers now need to offer identity protection services to regain confidence of holiday shoppers.
Equifax breach demonstrates how data breaches are getting bigger and more frequent. Is identity theft protection no longer optional in the digital age?
Identity theft is a frighteningly real concern during the holiday season as consumers shop more and cyber criminals get busy. Companies that proactively offer identity protection to cushion the full impact of a data breach on customers that are victimized will reap benefits of trust and loyalty from their customers.
Corporate identity theft is on the rise and its effects could potentially crash a successful business. What makes it easier to motivate the perpetrators compared to personal identity theft and what techniques do they use?
The FTC reported that identity theft doubled during the pandemic as scammers targeted COVID-19 relief payments to individuals and government-sponsored loans for small businesses.
The only guarantee today is that nefarious parties will continue to find new ways to infiltrate networks at financial institutions. Therefore, we must implement best practices to protect against cybersecurity incidents, as well as to resolve all possible issues that can arise should a cyberattack occur.
Increased credit card usage has resulted in higher rates of credit card fraud, and financial institutions are bearing the brunt of the financial losses. Recently, fraudsters are committing synthetic identity fraud by cultivating identities and developing credit histories over time leading to the call for new solutions.
The pace of cross-industry fraud is accelerating and becoming more costly and this is exacerbating the identity theft problem. New fraud study from LexisNexis reports that 84% of organizations had been the victim of cross-industry fraud.