The 2014 Identity Fraud report, just released by Javelin Strategy & Research and sponsored by
The report also found data breaches to be one of the greatest risk factors, as nearly one in three consumers who received data breach notification letters became a victim of identity fraud.
“Fact-based studies like this demonstrate the importance of consumers, financial institutions, and service providers coming together as partners in the fight against identity fraud, “said
• Think Twice Before Sharing Sensitive Information. Exposing common information like birthdates and addresses puts consumers at greater risk, as this type of information is commonly used by financial institutions for identity verification in order to access accounts. This type of seemingly harmless information could be valuable to experienced identity thieves. Before providing this information, ask why it’s needed and how it will be protected.
• Be Social, But Be Smart. Knowing that social networks are a hotbed for identity fraud activity, consumers should take extra caution when deciding whom to connect with and what applications to download. Users who approve friend requests from strangers and use GPS/location based applications are generally more susceptible to fraud.
• Take Caution When Using Mobile Devices. The convenience of online and mobile banking is here to stay, but consumers need to take the extra step of ensuring their network connection is secure and their devices have updated security. Never access your banking information through public Wi-Fi. Instead, use your carrier’s cellular service.
• Be an
• Act Quickly. The sooner victims learn of the fraud, the sooner their road to recovery can begin, improving the likelihood their losses will be reduced. Consumers must remain alert and act quickly in the event they notice suspicious activity, by reporting it to their financial institutions and law enforcement.
For more helpful tips, visit http://www.identityguard.com/identity-theft-resources/.
Read the full story at http://www.prweb.com/releases/2014/02/prweb11556963.htm
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