With the increasing amounts of online accounts, its fairly easy to lose your identity online. Between online banking and social media, there are a lot of platforms on the Internet where consumers enter personal information and many sites where businesses collect personal information from clients. Because so many business transactions are made online, consumers give out their personal information fairly easily and willingly. Not to mention that consumers have more online accounts than ever and spread their personal information out across the Internet. As our online identities become vaster our vulnerabilities for online fraud also become greater.
The unfortunate thing about the convenience of online business and the digital revolution is that consumers and businesses are making identity thieves jobs easier. Another unfortunate thing about online fraud is that many companies and industry sources report and analyze hackings AFTER they happen. Businesses discuss all the mistakes made, all the red flags, but they rarely discuss how to prevent fraud, just how to clean it up. Sure, its easy to get your identity onlinebut its just as easy to protect it. By taking the time to learn about identity verification and authentication, businesses may find that there is a solution that fits their needs and budget. Adding this important step to your fraud prevention plan can help detect and prevent fraud. After all, the cost of prevention is much less than that of redemption.
[Contributed by EVS Marketing]
