How to avoid identity fraud: Incorporating new-age tech
By Shibu Paul
Imagine a world where your personal information is unique and secure, and security measures like one-time passwords and other authentication methods are impenetrable. Knowing your digital identity is safe in this ideal world, you can enjoy your privacy and peace of mind.
However, this is far from reality. Bad threat actors constantly develop new ways to steal personal information for financial gain or other malicious purposes. In the first half of 2023 alone, there have been 5,60,000 identity theft cases, as reported by FTC.
Identity theft is a crime where threat actors steal personally identifiable information such as name, address, social security number, bank details, and more to impersonate another individual. Hackers then leverage this information to take loans, withdraw money, open bank accounts, and conduct other threats.
Fortunately, individuals can take several measures to prevent identity theft and protect against such catastrophic threats.
Identity theft not only causes significant financial loss but also emotional distress. Identity theft could also lead to data breaches, loss of sensitive and confidential information, and malware in enterprise networks. Here are several ways to protect against identity theft:
As simple as it may sound, protecting sensitive information like social security numbers and credit card details is crucial. Loss of this information can lead to wrongful impersonation, data breaches, and more.
Individuals must be careful before sharing their personal information with anyone and enquire why it is required and how it will be used. Hackers often mask themselves as legitimate telecallers requiring bank information. In such instances, individuals should directly contact
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