Terrifying financial horror stories aren't fiction!
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I found the below article so compelling, and so important as it relates to the current environment of personal data hacking, and how to secure oneself from identity theft, that I have decided to reprint the article in its entirety here.
Topics: identity theft protection
How the release of personally identifying information (PII) of nearly half the US population should change your approach to preventing fraud losses at your business
Earlier this month, an absolute bombshell announcement was made by Equifax – one of the three major credit scoring bureaus in the United States.
“We identified a cybersecurity incident potentially impacting approximately 143 million U.S. consumers. Criminals exploited a U.S. website application vulnerability to gain access to certain files. ”
– Equifax
Topics: identity theft, data breach, identity authentication, identity fraud, equifax
Retailers are on course to lose more than $70 billion globally to remote “card-not present” (CNP) fraud over the next five years. Despite this fact, retail managers of both large and small operations are under the financially fatal impression that fraud prevention is too costly.
Topics: fraud prevention, cnp fraud, identity authentication, identity fraud
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Common ATO Attack Targets
Millennials Seriously Question what Large Institutions Say
Millennials Expect Digital Services – Prefer Mobile
Topics: identity theft, fraud, account takeover fraud, data breach, identity fraud, account takeover
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CNP Fraud
Identity Fraud via Phishing, Malware, and Social Media
Other Identity Fraud Trends
What Can Business Operators Do?
Topics: identity theft, cnp fraud, identity fraud
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Remote Banking
Mobile Client Onboarding is the Next Frontier
Mobile Identity Authentication
Known Fraudster Checks
Topics: fraud prevention, ID authentication, mobilverify, identity authentication, ID authentication app
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What does the future of financial services look like?
Millennials Seriously Question what Large Institutions Say
Millennials Expect Digital Services – Prefer Mobile
How to Make Millenials Love Your Bank
Topics: millennials, banks, forecast, trends
Identity Theft continues to rank as the fastest growing form of fraudulent crime
A recent report by CIFAS - a not-for-profit company working to protect businesses, charities, public bodies and individuals from financial crime – revealed that prolific users of social media had experienced a 57% increase in incidences of misuse of their personally identifying information over last year. All because fraudsters were able to scrape their victims’ important personal data straight from social media profiles. Information such as birthdates, mother’s name, addresses, former residences and more can all be a key part of building an identity profile sufficient to enable access to accounts or the creation of new ones.
Topics: identity theft, mobileapp, identity theft protection, civic
Mobile Identity Authentication
Many potential business-cases point to the desire to have an identity authentication solution available as a mobile application on a smart phone or tablet. In some cases, it simply isn’t feasible to have a stationary device, tethered to a PC, available at the location where authentications must occur. In other cases, it may be desirous to have a client that is not in your physical store or branch location conduct an identity authentication wherever they are – which might be in their home, at a hotel, or even walking on the street.
Topics: fraud prevention, mobile fraud protection, mobilverify, identity authentication, identity authentication app
