News That Matters

Tag: theft

This 'old-fashioned' identity theft is just as dangerous as the cyber kind

This 'old-fashioned' identity theft is just as dangerous as the cyber kind

Finance
Hackers aren't your only risk when it comes to identity theft and fraud. Data breaches and hacks like those at Equifax, the IRS and Yahoo! tend to dominate the conversation — and no wonder. Breaches hit a record high in 2017, with 1,579 reported incidents exposing nearly 179 million records, according to the Identity Theft Resource Center, which helps consumers dealing with identity theft and fraud. But in recent years, a little more than half of thefts of consumers' personally identifying information were classified as "non-digital," meaning they didn't involve — or at least, didn't start with — the thief e...
Identity theft at epidemic levels, warns Cifas

Identity theft at epidemic levels, warns Cifas

Business
Identity theft is reaching "epidemic levels", according to a fraud prevention group, with people in their 30s the most targeted group.ID fraudsters obtain personal information before pretending to be that individual and apply for loans or store cards in their name.A total of 89,000 cases were recorded in the first six months of the year by UK anti-fraud organisation Cifas.That is a 5% rise on the same period last year and a new record high."We have seen identity fraud attempts increase year on year, now reaching epidemic levels, with identities being stolen at a rate of almost 500 a day," said Simon Dukes, chief executive of Cifas."These frauds are taking place almost exclusively online. The vast amounts of personal data that is available either online or through data breaches is only maki...