Tags: identity fraud, identity proofing, identity protection, Identity Theft, identity theft prevention
Yes, identity fraud is SO common that someone becomes a victim every two seconds. The 2014 Identity Fraud Study, as reported on javelinstrategy.com, turned up some alarming results.
Account takeover—when the thief takes over a pre-existing account—made up 28 percent of ID fraud losses in 2013. But the greatest risk factor for becoming a victim of identity fraud is the data breach. In that year, 30 percent of people who were notified of a data breach became an ID fraud victim.
Identity fraud is associated with credit cards, but this type of crime can also involve hijacking someone’s PayPal account, or account on Amazon and eBay.
How to Protect Yourself
Javelin Strategy & Research, who conducted the study, recommends the following:
- Never use public Wi-Fi (at least use a VPN)
- Shred old sensitive documents.
- Change the passwords on all of your accounts often.
- See which accounts offer two-factor authentication, then set it up. This way you’ll know if an unauthorized person is trying to access your account.
- Use anti-virus and anti-malware software for all of your devices.
- Monitor your accounts every week. Use mobile apps to stay on top of them.
- Use direct deposit for payroll checks.
- Don’t permit your Social Security Number to be used as an authenticating factor, because it can’t be changed, like a username or password can. Ninety-six percent of major credit card issuers and 80 percent of the top 25 banks will permit access to an account via the SSN. You should inform the institution to notate that you will never provide this number to verify your identity.
- Arrange for your financial institutions to send you alerts (e-mail, text, phone call) when anomalous activity occurs, such as a purchase made in two countries only a few hours apart, or any purchase over a certain amount. Ask about additional forms of fraud detection as well.
- If you suspect fraud, immediately report it.
If you receive notification of a data breach, you’re at higher risk for fraud; crack down on monitoring your accounts.
ROBERT SICILIANO, CEO of IDTheftSecurity.com is fiercely committed to informing, educating, and empowering Americans so they can be protected from violence and crime in the physical and virtual worlds. His "tell it like it is" style is sought after by major media outlets, executives in the C-Suite of leading corporations, meeting planners, and community leaders to get the straight talk they need to stay safe in a world in which physical and virtual crime is commonplace. Siciliano is accessible, real, professional, and ready to weigh in and comment at a moment's notice on breaking news.
- Identity Theft on the Rise…Again
According to a report released by Javelin Strategy and Research and another by the FTC, the incidence of identity fraud increased in 2012 for the second consecutive year, affecting 5.26 percent of U.S. adults. This increase was driven by dramatic jumps in the two most severe fraud types, new account fraud (NAF) and account takeover
- How safe is my identity? What are the latest threats? How do I protect myself?
The 2012 Identity Fraud Report: Social Media and Mobile Forming the New Fraud Frontier, released by Javelin Strategy & Research reports that in 2011 identity fraud increased by 13 percent. More than 11.6 million adults became a victim of identity fraud in the United States, while the dollar amount stolen held steady. Identity theft occurs when someone
- What Are the Latest Identity Theft Statistics?
The 2012 Identity Fraud Report: Social Media and Mobile Forming the New Fraud Frontier, released by Javelin Strategy & Research, reports that in 2011 identity fraud increased by 13 percent. More than 11.6 million adults became a victim of identity fraud in the United States, while the dollar amount stolen held steady. Approximately 1.4 million more
- Business Data Breaches Key in Rise of ID Theft
The 2012 Identity Fraud Report: Social Media and Mobile Forming the New Fraud Frontier report released by Javelin Strategy & Research Data Breaches increasing and more damaging – “One likely contributing factor to the fraud increase was the 67 percent increase in the number of Americans impacted by data breaches compared to 2010. Javelin Strategy
- Online Shoppers Concerned About Identity Theft
Shopping online is unquestionably more convenient and efficient than traditional commerce. But is it safer? We face risk everywhere we go. We risk car accidents on the way to the mall. Muggers and thieves present a risk. Heck, you risk catching a cold from a sniffling salesclerk! Similarly, shopping online creates another set of pitfalls, most of