There were nearly 17 million identity fraud victims in the United States in 2017, more than ever before. This increase is likely supported by the increasing number of data breaches and stolen identity records in recent years, which is keeping up the pace so far in 2018 with 124 data breaches coming to public attention
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Nearly 1,600 data breaches occurred in the United States in 2017, breaking the annual record of 1,093 that was set just last year. The number of compromised data records, of which 88 percent included Social Security Numbers and 8 percent included payment card numbers, increased to nearly 180 million, the highest total since 2009.
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As the FTC considers and confirms nominees to fill vacant commission seats, those interviewed speak to the still growing threat of data breaches and say this is a top priority for the government agency. Meanwhile, the House Financial Services Committee asks new Fed Chairman Jerome Powell what approach he will take to secure data, following
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Uber, one of the latest companies to suffer a data breach, is suffering backlash not just for the 57 million user accounts compromised following the breach, but the company’s failure to disclose the breach until more than one year after it occurred. The company is now facing scrutiny from Congress and potential legal repercussions. The
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Taking out multiple loans to get more funding than would be approved for any one loan is something that both real consumers do, and fraudsters do when trying to get as much as they can out of a stolen identity. The challenge for online lenders is not just recognizing loan stacking, but recognizing which type
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According to recent data and studies, identity fraud and new account fraud continue to plague both banks and consumers, with 80 percent of fraudulently opened credit card accounts in the U.S. applied for with synthetic identities and new account fraud on payment cards increasing by 11 percent in the UK over the last year. New
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It’s no secret that fraudsters increase their activity and fraud attempts during the holiday season when many merchants are at peak volume, but considering other fraud factors ACI Worldwide predicts a more than 40 percent increase in fraud this holiday season. Meanwhile the FBI warns of fraudulent merchants, mobile apps with malware and work from
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Following a data breach involving over 500 million accounts and a delay in notifying the public or impacted parties, the Securities and Exchange Commission (SEC) started an investigation into the Yahoo data breach at the request of a Senator. Later at a Senate Committee meeting the Federal Trade Commission (FTC) cited the Yahoo breach reiterating
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A recent study cataloging prices across English- and Russian-language fraudster forums examined 320 purchases for stolen payment, identity and log-in information earning hackers between $1 million and $2 million, while the fraudsters using this information from less than half of these transactions were able to steal between $1.7 million and $3.4 million. These estimates
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Multiple studies have recently shown that across all age groups it is Millennials who are most likely to fall victim to scams carried out via telephone or SMS, as well as fall prey online while displaying careless habits. These digital natives are the most comfortable with mobile devices and eCommerce, but also the most trusting
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