Identity Theft is More Than a Stolen Card

  • Identity Theft

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]