Identity Fraud was big in 2016
In 2016, identity fraud was at an all-time high.
Many social media accounts were hacked and as a result, the accounts plagued banks and businesses.
Not only, cell-phone accounts were hacked.
This occurs by criminals gaining access to financial accounts when consumers use two-factor authentication involving a text message or token app.
Even credit card services such as credit .com , got hacked , which isn’t good because those sites have you social security card number, and host of other classified information.
It died down, somewhat, but identity fraud is still apparent.
In 2017, credit card fraud accounted for 16.8% of all identity theft.
That same year, Equifax, had a breach that exposed personal data of 145 million people.
This was daunting because this credit company is the largest bureau in the U.S. 54% of companies claim they are only “somewhat confident,” of the security that they have.
