When most people hear the term identity
theft (especially in todays digital world) they typically think of a
thief that has gotten ahold of a credit card number and used it behind the
cardholders back. As most physical thefts are detected early enough for the
cardholder to cancel their cards, online
fraud has increased because thieves do not need the physical card to use
it, just the number. With the way the general population is using their cards
online, it is not outlandish to see why more identity thieves are moving
online. Even though online identity theft typically leads to fraudulent charges
and nothing more, identity theft can move far beyond the annoyance of fake
transactions.
In some rare occasions, identity theft can lead to full on
loss of identity. In Jeff Daviss (President & CEO) latest blog in Fraud
Thoughts, he outlines a story of a womans recent fight with an identity
thief. This thief did not just go on an unbeknownst shopping spree, but stole
her entire identity to get a job, mortgage and drivers license. This may come
as a shock to read, but fewer companies implement fraud prevention
measures than most people would think. Many major transactions such as
buying a car often do not have any type of identity
verification or authentication. This is why protecting yourself in the
digital age is more important than ever. Companies also need to take
responsibility to ensure their practices and processes are safe and secure. By
having a strong fraud prevention strategy, companies and ward off fake
identities and help to prevent identity theft big or small.
[Contributed by EVS Marketing]
