Sumsub’s Post

With the increasing adoption of AI, there is a growing concern about the potential for AI-powered identity theft and how our digital footprints could be used against us. Identity theft can take many forms, as scammers can use someone else's personal information to take out a loan, open a credit card, sign up for government benefits or make online purchases. Personal information could be available on the dark web for as low as $1, which means identity thieves need to steal a lot of information to make a profit. Scanned pictures of driver's licenses, passports, and utility bills go for about $10-35 per document. One of the most critical steps in protecting your digital footprint is being aware of the potential risks. Companies must also invest in robust cybersecurity measures and AI-powered detection tools to prevent and detect identity theft before it becomes a significant issue. By using AI-powered algorithms, companies can identify and mitigate potential threats before they can cause damage. It's crucial for companies to prioritize cybersecurity to protect their customers' data and maintain their trust. 

Because these traps are commonplace, experts estimate that a cybercriminal catches a new identity theft victim every 22 seconds. Depending on where you live and your age, you may be at a higher risk of identity theft. Cybercriminals use all sorts of methods to trick their victims from phone calls, text messages, bogus online ads, and malicious links. Don't go at it alone. Protect yourself and your family. If you are interested in how to do it, le me know in the comments and I'll get back with you asap. #bethechange #identitytheft #protection https://lnkd.in/gfMakBah

Digital identity theft and fraud is costing consumers and businesses millions. What can be done to identify and verify the “who” in digital transactions? Sit in on the discussion as fraud prevention specialists, iconectiv, share best practices for safeguarding digital identities in and mitigating fraud, with Transforma Insights's Jim Morrish 23rd April 2024: buff.ly/3Q5cEhd #fraud #phonenumbers

Identity fraud still accounts for 64% of cases recorded to the Cifas National Fraud Database, according to our latest Fraudscape report. However, when individuals have their identities stolen, what can they do to repair their identities and minimise the damage?   We welcome the new Home Office guidelines on ID repair which provides helpful advice for victims and are delighted to see that the Cifas Protective Registration service is recognised as an effective way for people to protect themselves.   View the checklist for more information, and find out how you can sign-up for Protective Registration: https://lnkd.in/dxtCedrS   #IdentityTheft #IdentityFraud #Fraud #NationalFraudDatabase #FraudAwareness #FraudAdvice #FraudTips

Digital identity theft and fraud is costing consumers and businesses millions. What can be done to identify and verify the “who” in digital transactions? Sit in on the discussion as fraud prevention specialists, iconectiv, share best practices for safeguarding digital identities in and mitigating fraud, with Transforma Insights's Jim Morrish 23rd April 2024: buff.ly/3Q5cEhd #fraud #phonenumbers

Digital identity theft and fraud is costing consumers and businesses millions. What can be done to identify and verify the “who” in digital transactions? Sit in on the discussion as fraud prevention specialists, iconectiv, share best practices for safeguarding digital identities in and mitigating fraud, with Transforma Insights's Jim Morrish 23rd April 2024: buff.ly/3Q5cEhd #fraud #phonenumbers

It's here: the AuthenticID 2024 State of Identity Fraud Report! 📣 And its release is more timely than ever: nearly half of businesses reported a growth in synthetic identity fraud in 2023, while biometric spoofs and counterfeit ID fraud attempts also increased. 📊 In our report you'll find the latest trends in identity fraud, identity verification challenges, consumer and business insights, and the cutting-edge technology that can fight the sophisticated fraud facing both consumers and businesses. Get your copy of the report here: https://hubs.la/Q02jmxgD0 #authenticid #stateofidentityfraud #digitalidentity

25,000 Australians got support for identity theft last financial year. How many others suffered and didn't get support! While identification documents can be re-used through impersonation, we're all exposed to identity theft. Plastic ID cards are not enough; technology exists to produce these critical documents digitally and protect the holder. Verified Orchestration can mint a cryptographically protected digital ID card that can be used just like a plastic card, with the exception that it can't be misrepresented. #verifiablecredentials

What exactly is Synthetic Fraud? Thank You Elliott Lowen for joining in and sharing the insights on Synthetic Fraud. Data Safeguard Inc. #DataPrivacy #SyntheticFraud #PII #DataSafeguard Synthetic Fraud: Synthetic fraud is a type of identity theft where fraudsters create entirely fictitious identities using a combination of real and fabricated information. Unlike traditional identity theft, where someone steals an existing person's identity, synthetic fraud involves inventing a new, non-existent identity. Fraudsters typically combine real Social Security numbers with fabricated names, addresses, and other details to create these synthetic identities.