Category Archives: News

Moving From Static Identity To Digital Identity

https://www.forbes.com/sites/forbesfinancecouncil/2017/10/10/moving-from-static-identity-to-digital-identity/#2cec7f14133f

Moving From Static Identity To Digital Identity

Opinions expressed by Forbes Contributors are their own.

Post written by

Garrett Gafke

A Fortune 500 executive, blending early-stage action with public company knowledge and a key pioneer in the building of digital identities.

Garrett Gafke Garrett Gafke , CommunityVoice

The most recent Equifax data breach exposed the confidential and private information of some 143 million U.S. consumers to hackers and other nefarious users. This information includes consumer’s names, Social Security numbers, birth dates, addresses and, in some cases, driver’s license and credit card numbers.

Essentially, this means that practically every adult consumer in the United States had their information stolen. While identity theft monitoring and insurance services can help to identify when your identity is being abused, this doesn’t solve the actual problem. The information taken was more than enough for identity theft (someone to impersonate you), to create synthetic identities (fake identities made using pieces of your real information) and to enable account takeovers (where fraudsters have your credentials and take over your online accounts). Given the breadth of the breach and the attack vectors, a credit freeze offered by credit bureaus will not fully protect anyone whose (more…)

Identity theft protection increasingly important to employees

http://www.benefitspro.com/2017/09/28/identity-theft-protection-increasingly-important-t

Identity theft protection increasingly important to employees

Only half of HR professionals report that they currently offer identity theft protection to their employees. (Photo: Getty)
Only half of HR professionals report that they currently offer identity theft protection to their employees. (Photo: Getty)

As the War for Talent keeps escalating, more employers are offering additional benefits and perks to attract, retain and motivate talented employees — including identity theft protection, according to IdentityForce’s 2017 Progressive Benefits Survey.

The survey polled 105 human resource professionals and found that two-thirds (68 percent) consider identity theft protection an increasingly important employee benefit, while only half currently offer identity theft protection to their employees.

Related: 8 steps to protect employee benefits from data hackers

“In light of the Equifax data breach, we’re certainly seeing more HR, broker, and agent inquiries seeking information on our implementation and enrollment process in order to make the benefit available before 2018,” IdentityForce’s chief executive Steven Bearak said in an interview.

RELATED

Employers lose a third of departing employees’ salaries to hire replacements

Employee turnover is expensive to employers — and ironically, most of it could also be prevented by employers.

Within organizations, HR departments are coordinating with their information technology teams, who are increasingly looking at identity protection as an important line of defense against potential security data breaches, according to the report.

When (more…)

Should You Get Identity Theft Insurance?

https://www.fool.com/personal-finance/2017/10/01/should-you-get-identity-theft-insurance.aspx

Should You Get Identity Theft Insurance?

Identity theft insurance seems like a good idea, but you may not get as much from it as you expect.

Oct 1, 2017 at 12:32PM

Identity theft is on the rise: In 2016, it affected more than 6% of all consumers in the U.S. Given the risks (and the consequences if you’re targeted by a fraudster), identity theft insurance may seem like a great idea. But before you sign on the dotted line, make sure that you understand what you’re getting yourself into.

What is identity theft insurance?

Identity theft insurance doesn’t work quite the same way as your standard auto or homeowner’s policy. Despite the name, identity theft policies don’t reimburse you for the money that fraudsters stole from you. Instead, your identity theft insurance will reimburse you for the cost of getting things straightened out again.

Identity theft insurance also won’t alert you if your identity is stolen or help to prevent identity theft. For that, you’ll need an identity theft protection plan. Several different companies offer such services for a modest monthly or annual fee. Because of its recent data breach, Equifax is offering free credit monitoring and identity theft protection from TrustedID for one year. If you (more…)

Sonic shares dip after fast-food chain confirms payment breach, offers identity theft protection

https://www.cnbc.com/2017/10/04/sonic-shares-dip-on-news-of-payment-breach.html

Sonic shares dip after fast-food chain confirms payment breach, offers identity theft protection

  • Sonic confirmed Wednesday that it had been the victim of a data breach.
  • The company said that credit and debit card numbers may have been acquired as part of a malware attack at some Sonic locations.
  • Sonic said it will offer customers who used their cards at its locations this year 24 months of free fraud detection and identity theft protection through Experian’s IdentityWorks program.

An employee delivers food at a Sonic drive-in restaurant in Normal, Illinois.

Daniel Acker | Bloomberg | Getty Images
An employee delivers food at a Sonic drive-in restaurant in Normal, Illinois.

Shares of burger chain Sonic fell nearly 2 percent on Wednesday, after the company confirmed that it had been the victim of a data breach and offered customers identity theft protection.

The company said that credit and debit card numbers may have been acquired as part of a malware attack at some Sonic locations. The company did not disclose which locations or the specific time frame of the incident.

The data breach was first reported by Krebs on Security and The Wall Street Journal last week. At that time, the Associated Press reported that the company has seen some “unusual activity” on credit cards at some (more…)

Identity theft nightmares: ‘It’s the fear of losing money’

http://money.cnn.com/2017/10/03/pf/identity-theft-2/index.html

Identity theft nightmares: ‘It’s the fear of losing money’

Freezing your credit after Equifax hack…not so easy

For many years, Pam Giltner and her husband refused to use credit.

As a victim of identity theft more than 20 years ago, when several retail cards were opened in her name and checks written from her account, Giltner, 69, spent years rebuilding her financial life.

When she learned that she was one of the 145 million Americans affected by the recent Equifax data breach, in which personal and financial data were accessed including Social Security numbers, dates of birth and addresses, she was cast back to the fear, frustration and anger she felt as a victim of identity fraud.

Now, she has trouble sleeping at night.

“It’s the fear of losing money,” says Giltner, a retired registered nurse in Albia, Iowa. “And the fear I might have to go through this all over again.”

That’s why she was crying in her banker’s office. She hadn’t lost any money yet, but she was afraid she might.

“We don’t have a lot of money,” she said, which is why she went in to ask about protecting her savings account. Her 50th wedding anniversary is coming up and (more…)

Look For Identity Theft Signs

http://www.huffingtonpost.com/entry/look-for-identity-theft-signs_us_59cb99b5e4b028e6bb0a66f7

Look For Identity Theft Signs

09/27/2017 08:40 am ET

PHOTO ©ISTOCKPHOTO.COM/LEOLINTANG

We’re All At Risk

In today’s interconnected and automated world, Americans are at an increased risk for identity theft simply from the number of transactions that take place – many of which you never see and only briefly review, if you ever review them at all.

Thanks to the recent massive data breach at Equifax, Americans are at greater risk than ever before. The volume of exposed information makes it more likely that crooks will be able to open fraudulent new accounts in your name and drain your existing ones. Outside protection services can help, but nothing is 100% guaranteed – therefore it’s important that you keep a close eye on all of your accounts and look for anything unusual.

Credit, Financial, and Medical

Common red flags indicating fraud include:

  • Statement for credit accounts you didn’t open
  • Credit report errors
  • Collection notices for unfamiliar credit accounts or medical bills
  • Increase in your credit card APR
  • Denials of loans or other lines of credit
  • Bills for items or services that you didn’t purchase or insurance
  • Explanations of Benefits (EOB) for medical procedures that you didn’t receive
  • Unusual health-related communications (notices from doctors or treatment centers that you don’t recognize (more…)

Credit firms skip hearing on identity theft, data breach

http://www.sacbee.com/news/business/article175825646.html

Credit firms skip hearing on identity theft, data breach

SEPTEMBER 28, 2017 3:18 PM

Freezing Your Credit Isn’t Enough to Prevent Identity Theft. This Is What You Need to Do

https://www.inc.com/business-insider/how-to-protect-yourself-against-identity-theft-after-equifax-hack.html

Freezing Your Credit Isn’t Enough to Prevent Identity Theft. This Is What You Need to Do
A credit freeze protects you from having new accounts opened in your name, but there are other types of identity theft you still need to watch out for.
CREDIT: Getty Images
  • Over 4 billion personal records were stolen last year alone — before the Equifax breach.
  • Only 4% of identity-theft victims in 2014 had a new account opened in their name, which a credit freeze protects against.
  • However, freezing your credit will not prevent the most common type of identity theft: misuse of current accounts.

In the wake of the Equifax breach, identity-theft horror stories have been easy to come by.

The solution, according to many experts, is freezing your credit — something hardly anyone has done.

But a credit freeze protects only against new accounts being opened in your name — one of the rarest types of identity theft out there, affecting only 4% of victims, according to the most recent Bureau of Justice Statistics data.

It’s not because criminals haven’t had access to Social Security numbers before.

2015 data breach at the health-insurance company Anthem exposed the personal information, including Social Security numbers, of 80 million people. A class-action lawsuit was settled this summer, awarding up to $50 to (more…)

“I am you”: Hear hacker’s threats to victim of identity theft

https://www.cbsnews.com/news/i-am-you-hear-hackers-threats-to-identity-theft-victim/

 

“I am you”: Hear hacker’s threats to victim of identity theft

LOS ANGELES — Americans have been scrambling for weeks to protect their credit reports after Equifax revealed it had been hacked, leaving 143 million vulnerable to identity theft.

So, what happens if thieves get hold of your personal information?

IT specialist Art Damiao’s nightmare began when a hacker called him after breaking into his personal email.

“He said, ‘I am the hacker that’s in control of your email right now,'” 36-year-old Damiao told CBS News correspondent Anna Werner. “He said, ‘I have all your information,’ and I said, ‘OK, what’s my Social Security?'”

“He started reading it back to be,” Damiao said.

“And he was correct?” Werner asked.

b2-werner-id-theft-092517-transfer-frame-4488.jpg

Art Damiao

 CBS NEWS

“I didn’t let him finish,” Damiao said.

Damiao hung up, but the high-tech intruder then called again, leaving a voicemail message demanding ransom.

“Hello Mr. Damiao, you will not get your email address back, you will need to contact me and give me the amount of $300 via bitcoin,” the message said. “I also have your Social Security number, your driver’s license number, front and back. I can basically pretend to be you right now. I am you.”

“I was terrified,” Damiao said. (more…)