Once upon a time ID fraud was synonymous with credit and debit card fraud but we can say with 100% certainty that it has now gone way beyond a compromised payment card.
Fraudsters are now just as likely to target utilities accounts, running up unauthorized charges on mobile-phone accounts and infiltrating other Internet accounts to name just a few possible vulnerabilities in your day to day life.
The bottom line here is that your identity alone can open doors to a wealth of illegitimate treasure and scams for the fraudster and it needs to be protected. No longer is being wary about where you have left your wallet sufficient protection against the criminal underworld. Nor is it solely in your hands. Information relating to your identity is just as likely to be compromised as a result of a data breach at a large organisations – there were 1,000 data breaches in the USA alone last year putting 500 million people’s IDs at risk of fraud.
It seems like an irreversible tide right? And you’re probably sick and tired of hearing about all the things you need to do to protect yourselves and the neurotic mess you become every time you go online or take out your wallet?
Well we at Jumio feel it is time more organisations started taking steps to further protect your ID and shouldered some of the burden by utilising cutting-edge technology to significantly reduce the chances of your ID landing in the lap of a fraudster.
Advanced verification technology exists that would not only make it harder to gain access to personal accounts and data but also harder to falsely use that identity should it be obtained. Sadly the technology is used nowhere near enough but with fraudulent activity and ID theft steadily increasing now is the time for that to change.