Latest news with #identitytheft
Forbes
a day ago
- General
- Forbes
Learn How To Tell If You've Been Hacked, And What To Do
The more devices and accounts you have, the more likely you are to be hacked, so it's a good idea to ... More stay alert to the warning signs. Most of us now have a number of different devices, accessing a wide spectrum of online accounts and services. Any of these can be hacked, with criminals attempting to use your identity to carry out scams and fraud. So how can you tell you've been hacked? There are a number of signs common to different accounts and devices, including unexpected logins, changes to settings that you didn't make, unauthorized financial transactions and more. We look at the warning signs that your account or device may have been compromised, and the steps you should take to put things right if it has. Hacking is the term for gaining access to a device, account or network by a third party. It isn't necessarily malicious — ethical hackers, for example, do this to check out an organization's potential vulnerability. Dorking, meanwhile, is usually carried out for nefarious means, but can also be a useful technique to improve search results. Generally, though, hackers are criminals attempting to steal data — perhaps your personal information, or even your financial details. They gain access through a number of different methods, from vulnerabilities in the device or service itself, or through techniques such as phishing, where victims are tricked into giving away crucial information. If successful, hackers may use your account to lure in more victims, spread malware or even empty your bank account. Any device that can be connected to the internet is at risk of being hacked — phones, tablets, PCs and Apple computers. It's even possible to hack smart home devices or smart cars. Hackers have a number of motivations. Generally, it's to steal personal data, which can then be sold on the dark web to other criminals, especially if it includes passwords, credit card details or other financial information that can be exploited to carry out scams. Some devices are more at risk than others — Apple, for example, has a reputation for protecting user security well. But whatever the device, it's possible to take measures to minimize the risk. There are a number of signs that your computer has been hacked. Often, the first sign is slow performance, or your computer freezing or crashing. Programs that you didn't install may appear, as may a deluge of pop-up ads; your password may be changed, and you could be locked out of accounts. If you have a website, you may see browser warnings, Google Search Console alerts, slow loading times, and unexpected redirects, along with the sending of spam emails. If your PC or Mac is hacked, your first step should be to unplug your machine and disconnect it from the internet. You should then change passwords and run a full virus scan. Signs that your phone has been hacked include a fast-draining battery or overheating, indicating that it's working in the background for somebody else. Bills may be higher than usual, and new apps may unexpectedly appear, along with unexpected notifications, unrequested 2FA codes or pop-ups. You may find that settings such as camera or microphone permissions have been changed — or even find yourself locked out of your Apple ID or Google account. If you do fall victim, you should start by changing all passwords and running a security scan; if all else fails, you should restore your phone to its factory settings. Hundreds of thousands of routers are hacked every year, with criminals generally exploiting a weak password or taking advantage of unpatched software vulnerabilities. Your browser may keep redirecting you, you may spot increased data usage, slow internet or unusual network activity, or discover that unfamiliar devices have been connected to your wifi. Your login credentials or router settings may have been changed without your knowledge. If you suspect that your router has been hacked, you should disconnect it and give it a factory reset, and change your password. You should then use an anti-virus package to check all your devices for malware. Hacking accounts can give criminals access to valuable data, which they can exploit for financial gain, and allow them to spread malware or scams. Frequent targets include Amazon, Apple ID, email, Google and Microsoft, with signs including passwords that don't work, or unexpected alerts about login attempts, password resets, or two-factor authentication. To minimize the risk and keep your accounts safe, it's a good idea to use a strong password and two-factor authentication. Signs that your Amazon account has been hacked include changes to your address, email, payment information. You may also receive notifications of password reset requests. Other common signs of a compromised Amazon account include purchase activity that you don't recognize, or reviews you didn't write being posted in your name. If you think your Amazon account has been hacked, you should change your password, enable two-factor authentication and run an anti-virus scan. You should also chack for any unauthorized financial activity. The main signs that your Apple ID has been hacked are access by a device you don't recognize or a password change that you didn't make. You may also spot unauthorized purchases on the App Store or iTunes. And if your Apple ID is hacked, it will give the criminals access to all your Apple devices, from a MacBook to an iPad or iPhone. If this happens to you, you should change your password, check your account information is correct, and, if you can't then access your account, go to then for help. Signs that your email account has been hacked include being unable to log in, unexpected or missing emails, unexpected changes to your password or account settings or alerts from your email provider itself. If it happens to you, change your password and run a virus scan. You should be able to recover your account by contacting your email provider and asking for a password reset. Signs that your Google account has been hacked include a password that no longer works, changes to your personal account or an alert from Google that there's been a sign-in to your account from a new device. You should sign into your account if you can, change your password and turn on two-step authentication. Scan for and delete any malware, and visit Google's account recovery page to regain control. There are a number of signs that your Microsoft account may have been hacked, including a notification from the company itself about potentially suspicious activity, for example a log-in from a new location. Emails you didn't write may be sent from your account, or your profile information changed. If your account is hacked, you should change your password, enable multi-factor authentication and update security settings. If you can't access your account, you should be able to recover it here. Signs that your Netflix account has been hacked include an email from Netflix itself, perhaps alerting you that a device has signed in from an unfamiliar location, changes to your payment method or perhaps being locked out altogether. You should immediately change your password and then sign out of all devices, remove any unauthorized payment methods through the Manage payment methods section, and contact Netflix support to report the suspicious activity. Social media accounts are a popular target for hackers, thanks to the vast amount of personal information they hold and the ability to use a compromised account to carry out scams and fraud. All platforms — from X and LinkedIn to WhatsApp and Snapchat — are vulnerable, though Facebook, Instagram, and Xr are the most frequently hacked. Staying safe is a matter of taking basic security measures like having a strong password and two-factor authentication, avoiding giving too much information away on social media and never reusing passwords from one site to another. Signs that your Facebook account has been hacked include messages from Facebook itself, changes to your profile information or strange messages being sent to your contacts. If it happens, you should change all your passwords immediately and tighten up your privacy settings. You should also warn friends and family to avoid engaging with any messages from your account. If you can't access your account yourself, you'll need to go to this Facebook help page, where you'll be led through the process to recover your account. Instagram is one of the most-hacked social media platforms, and it's usually easy to spot if it happens to you. You may discover that you can't log into your account, or posts, reels or stories that you didn't make may appear. If you can still log in, you should change your password and turn on two-factor authentication. If you can't log in, there are a number of steps you can take, depending on your type of account. If you've had a message from Instagram telling you that your email address has been changed, you may be able to fix this by clicking the 'Secure my account' link in the message. You can also ask for a login link or security code to be sent to the email address or phone associated with your account. You may discover that your LinkedIn account has been hacked via a message from the company, or because of suspicious activity on your profile, difficulty logging in or complaints from contacts about strange or spammy messages coming from your account. You should report the problem to LinkedIn here, change your password and review your active sessions to see where you're signed into LinkedIn right now. You should review all the email addresses and phone numbers associated with your LinkedIn account to make sure you can receive password reset messages from LinkedIn. Look out for, and delete, any rogue messages or posts on your account, and let all your contacts know what's happened. Signs that your Reddit account has been compromised include apps on your profile that you don't recognize or unusual IP history on your account activity page. You may start seeing votes, posts or comments that you didn't make, or receive an alert from Reddit itself. If you think your account has been hacked, you should contact the company — although users report that getting your account back can take up to a month. You should also change passwords and alert any other users that you interact with that your account has been hacked. Signs that your Snapchat account has been hacked include spam being sent from your account, new contacts appearing or unauthorized changes to the mobile number or email address associated with your account. You may also get an alert from the company telling you that someone has logged in to your account from an unfamiliar location, IP address or device. If you realize that your Snapchat account has been hacked, you should change your password and enable two-factor authentication. Verify your email and mobile number, and check for any unauthorized linked devices. Signs that your WhatsApp has been hacked include strange activity on your account, such as messages from unknown contacts, unread messages marked as read or receiving unsolicited verification codes. You may spot an unfamiliar device logged into your account or changes to your profile information. Recovering a WhatsApp account is usually pretty straightforward — you just need to sign into WhatsApp with your phone number and you'll be sent a six-digit code via SMS or a phone call to allow you to re-register. Signs that your X account may have been hacked include a password that won't work, unauthorized tweets or direct messages from your account, unexpected actions like follows or blocks and notifications from X itself. You'll need to change your password, make sure that the email address linked to your account is secure, check for viruses and revoke access for any third-party applications that you don't recognize. If you're still having problems, you can contact X's support team here for help. Bottom Line The more devices and accounts you have, the more likely you are to be hacked. It's a good idea to stay alert to the warning signs. But if it does happen to you, it's usually fixable if you know the right steps to take.
Forbes
a day ago
- Business
- Forbes
Identity Theft Complaints Rose In Most States In 2024 With Florida At The Top Of The List
Credit card fraud topped the list of reported identity theft in 2024. getty Identity theft reports rose by 9% nationwide last year, representing the first year-over-year increase in identity theft reports since 2021. Reported incidents increased by nearly 100,000 between 2023 and 2024, suggesting that identity thieves have found new way to evade existing protections, such as using generative artificial intelligence (AI) to create more convincing scams. Florida residents reported the most issues of any state in 2024, with 528 identity theft reports for every 100,000 people living in the state, according to an analysis of Federal Trade Commission (FTC) data by All About Cookies, which focuses on online privacy and data security. The only other state with a rate in excess of 500 reports per capita was neighboring Georgia, at 517 reports per 100,000 people. For 2024, most identity theft reports were filed in southern states. Kelly Phillips Erb At the other end of the spectrum, South Dakota had just 94 per 100,000 people. No other state had fewer than 100 reports per capita, although Vermont was close, with 101 identity theft reports for every 100,000 residents. Identity theft reports rose by 26% in Louisiana, the most of any state. Five other southern states also landed in the top 10 when it came to the most increases in identity theft: Arkansas (2), Florida (4), Kentucky (5), Mississippi (6), and Missouri (8). Rhode Island (3), California (7), Nevada (9), and New York (10) rounded out the top 10. The data suggests that South is a 'genuine identity theft hotspot,' being home to nine of the top 10 cities with the highest number of reported identity thefts. Miami tops the list with 903 reported instances of identity theft for every 100,000 people, which is over 200 reports per capita higher than any other city. Atlanta ranks second at 690 reports per 100,000 people, while Houston holds third at 573 per 100,000. The only non-southern city in the top 10 is Los Angeles, with 550 reports for every 100,000 residents. Orlando (Florida), Baton Rouge (Louisiana), Killeen (Texas), Dallas (Texas), Lakeland (Florida) and Macon (Georgia) complete the list. The South also leads the way when it comes to increases in theft reports. Baton Rouge, Louisiana, recorded a 55% increase in identity theft reports, followed by New Orleans, which experienced a 35% increase. The rate of identity theft increased by at least 20% in six different Florida cities, each of which ranked among the top 10 cities with the largest such increases nationwide. Overall, identity theft reports rose in 37 states, decreased in 12 states, and remained consistent year over year in two states. Stolen credit card information is the most common form of identity theft, accounting for 40% of all identity theft reports in 2024. 'Other' forms of identity theft—those that do not fit into any other category—ranked second with 32% of identity theft reports. This includes reports of identity theft related to social media, insurance, medical services, and online shopping. Identity theft related to acquiring loans or leases, such as mortgages or rental agreements, ranked third, while bank account identity theft ranked fourth. Employment or tax-related theft (generally associated with Social Security numbers) ranked fifth. Identity theft happens when someone uses your personal or financial information without your permission. They may steal your name, address, credit card or bank account numbers, and Social Security number. Furthermore, they can use this information to obtain new credit cards in your name, open a phone or gas account under your name, or steal your tax refund. You may not even know that it has happened. The best way to protect yourself is to be vigilant. Check your bills and bank statements for unusual charges, and regularly review your credit reports for any suspicious activity. You can also take proactive steps, such as placing a credit freeze on your credit reports. While a freeze is in place, nobody can open a new credit account in your name. There's no cost to place or lift a freeze. Contact each of the three credit bureaus—Experian, TransUnion, and Equifax—for details. Take steps to keep your financial records and personally identifying information secure. Keep them in a safe place and securely dispose of any papers with the information (your best bet is the shred them). And look out for scammers. The IRS, Social Security Administration, and other federal agencies won't call, email, or text you to ask for your Social Security number, bank account information, or other personal details. (For more tips to protect yourself, check out this previous article.) Tax identity theft happens when someone uses your Social Security number and personal information to steal your tax refund or use your information to file a return to claim a bogus tax refund. You may not even know you're a victim until you file your tax return and it's either rejected online or you receive a letter from the IRS. If you file a paper tax return and your identity has been used to file a return, the IRS will mail you a letter explaining that it received more than one return in your name. Don't ignore the letter—read it carefully and follow the instructions. If you file your tax return online or through a tax preparer and it is rejected as a duplicate filing, click over to and make a report. When you submit a report at it will generate three things: (1) an FTC Identity Theft Report, (2) an IRS Identity Theft Affidavit, and (3) your personal recovery plan. Your IRS Identity Theft Affidavit will automatically be submitted to the IRS online so that the IRS can begin investigating your case. If you don't want to make a report at you can click over to Form 14039, Identity Theft Affidavit and submit it by mail. You can also submit it online. If you are the victim of identity theft, you should consider opting into the IRS Identity Protection PIN program. An IP PIN is a six-digit number that helps prevent thieves from filing federal tax returns in the names of identity theft victims. The IP PIN is a voluntary program open to any taxpayer who can verify their identity. The fastest way to receive an IP PIN is to request one through your online account. If you don't already have an account on you'll need to create one. The IP PIN is generally available in your online account from mid-January to mid-November. Once you have opted in and obtained an IP PIN online, you'll need to use it each year when filing any federal tax returns, including prior-year returns. You'll find it in your online account through the Profile Tab. An IP PIN is valid for one calendar year. A new IP PIN is generated each year for your account. If you want an IP PIN but can't create an online account, there are alternatives (they just take longer). For example, if your adjusted gross income on your last filed return is below $84,000 for individuals or $168,000 for married filing jointly, you have the option to use Form 15227, Application for an Identity Protection Personal Identification Number. You must have a valid Social Security number or individual taxpayer identification number (ITIN) and access to a telephone. The IRS will use the telephone number provided on Form 15227 to call you and validate your identity. Once the IRS verifies your identity, you will receive your IP PIN via U.S. mail, usually within four to six weeks. You will receive your IP PIN each year through the mail. You can also make an appointment for an in-person meeting at a local Taxpayer Assistance Center. You'll need to bring one current government-issued photo identification document and another identification document to prove your identity. Once the IRS verifies your identity, you will receive your IP PIN via mail, typically within three weeks. Again, you will receive your IP PIN annually through the mail. The IRS also has a hub—Identity Theft Central—that you can visit for more resources. When consumers file complaints with the Federal Trade Commission (FTC), those reports are stored in the Consumer Sentinel Network (Sentinel), an online database available only to law enforcement. Since 1997, Sentinel has collected tens of millions of consumer reports related to fraud, identity theft, and other consumer protection issues. That information is aggregated into an annual data book. The All About Cookies team analyzed the FTC data to identify where identity theft is most prevalent, where crime is on the rise, and the most common types of identity theft across the country. All About Cookies offers tips, advice, and recommendations to assist with online privacy, prevent identity theft, and enhance digital security.
Entrepreneur
a day ago
- Business
- Entrepreneur
The Role of Banks in Preventing Fraud
'Unusual activity detected in your account. Immediately open this link to verify your identity.' You're on the verge of clicking the link when you remember reading an alarming article about... This story originally appeared on Due 'Unusual activity detected in your account. Immediately open this link to verify your identity.' You're on the verge of clicking the link when you remember reading an alarming article about identity theft. Suddenly suspicious, you call your bank to confirm the email's legitimacy. Congratulations! You just participated in one of the many layers of fraud prevention that financial institutions implement to protect their customers' finances and sensitive information. Banks are a fraud-fighting army, working behind the scenes to safeguard every tap, click, and swipe you make during online transactions. From encrypting your data to monitoring suspicious behavior with artificial intelligence, financial institutions deploy multiple techniques to shield you from increasingly clever scams. Why Banks Invest Heavily in Fraud Prevention Your deposits aren't merely numbers on a screen — they represent trust. A breach can shatter that trust, trigger regulatory fines, and spur costly investigations. Banks pour billions into cybersecurity and fraud detection to avoid these consequences. They safeguard their reputations and your hard-earned money by combining advanced technology with rigorous protocols. Financial institutions also adhere to stringent regulations set by authorities like the Federal Reserve, the Office of the Comptroller of the Currenc,y and the Consumer Financial Protection Bureau. These agencies regulate and oversee standards from encryption practices to customer authentication methods. Noncompliance results in hefty penalties, litigation, and reputational harm. These incentivize financial institutions to treat fraud prevention as a vital business imperative. The Rising Threat of Digital Fraud Fraudsters continue innovating in response to increasingly stringent cybersecurity systems and strategies. As a result, social engineering threats that rely on manipulation rather than technical attacks have increased. Scam-Yourself Attacks The third quarter of 2024 saw a whopping 614% increase in command prompt scams, where people unwittingly install malware through fake software tutorials. A recent threat actor, NGate, is a type of spyware that records screen activity, a channel used by over 166% of cybercriminals. This virus emulates payment card details, which malicious actors use to make withdrawals or purchases. Another popular digital fraudster tactic is phishing attacks, which trick account holders into revealing sensitive information through emails or phone calls. These scams often create artificial urgency, claiming your account is in danger or you've received some money and must act immediately to avoid problems or loss. Americans above 60 are most vulnerable to this deception, probably due to their accumulated wealth and savings. Then, there's smishing — SMS scams that impersonate your bank or other credible institutions. These messages often ask you to click a link or call a number, leading to credential theft or unauthorized transfers. According to the Federal Trade Commission, these text-based scams accounted for $330 million in reported losses in 2022. The proliferation of deepfake audio and video is the new frontier of these challenges. Sophisticated AI tools can clone voices or create realistic video calls that trick even vigilant customers and support teams into revealing sensitive information. Strategies like voice-print analysis and liveness checks—asking customers to blink or rotate their heads—are viable tactics to combat these tactics. Card-Not-Present Fraud As physical card security improves thanks to chip technology, hackers are innovating online where physical cards aren't necessary. Banks thwart trends like card skimming through: 3D Secure protocols that add authentication steps for online purchases. Virtual card numbers for online shopping that limit the exposure of your real account details. Transaction limits for online purchases. Verification steps for adding new payment methods to online accounts. These measures create additional hurdles for fraudsters using stolen card information for unauthorized purchases. How Banks Detect Fraud Before You Do Banking fraud detection has evolved dramatically from manual reviews to sophisticated automated systems. Today's banks use AI and machine learning algorithms to analyze transaction patterns and flag unusual activity within milliseconds. These systems learn your spending habits well enough to distinguish between legitimate purchases and potential fraud. When you suddenly make multiple ATM withdrawals in rapid succession or use your card in a new country without notice, the system registers these actions as deviations from your normal behavior. The bank then assesses whether to decline transactions, temporarily freeze your account, or contact you to verify the activity. 1. The Technology Backbone — Encryption and Secure Networks When you log into your bank account, you enter an encrypted area. This protective channel, powered by SSL/TLS protocols, scrambles your data as it travels between your device and the bank's servers. Even if an attacker intercepts that data, they'll see nothing but gibberish. Beyond encryption in transit, banks often encrypt sensitive information at rest. This data includes customer records, transaction histories, and authentication logs. By layering encryption at multiple levels, financial institutions create redundant safety nets, making unauthorized data access exponentially harder. 2. Identity Verification Beyond Passwords Passwords are an increasingly ineffective line of defense. Most banks now use multifactor authentication to counteract credential theft. This method combines your login credentials with a one-time code on your phone or a fingerprint or facial scan to authenticate your identity. Behavioral biometrics takes verification a step further. Instead of asking for a fingerprint, software can analyze how you type, swipe or even hold your device. These unique patterns are nearly impossible for fraudsters to replicate, adding a hidden layer of protection around your account. Your bank may also use out-of-band verification if you need to reset your password. That might mean sending an SMS to your registered number and asking you to confirm a code, or triggering a push notification on your mobile app. These extra steps ensure that only you can make critical changes as a genuine account holder. 3. Real-Time Fraud Detection — How AI Keeps Watch Banks process millions of transactions per day. For instance, the Bank of America app alone had almost 1 billion digital client logins in July 2022. Manually reviewing every one would be impossible. Instead, they rely on artificial intelligence and machine learning models that spot real-time anomalies. These AI systems learn your spending habits: Where do you shop? How much do you typically spend? When do you usually buy things? When a transaction deviates significantly from your usual pattern — for example, a large overseas purchase — the system flags it for further review. Within milliseconds, the bank will send you an alert or request additional authentication. Graph-based analysis is another advanced technique. Banks can identify synthetic identity fraud by mapping connections between devices, IP addresses, and account numbers. These complex fraud rings often involve thousands of fake identities, but graph algorithms can trace links that human investigators might miss. 4. Protocols and Compliance Banks follow well-established protocols and compliance frameworks to reinforce these technologies. Chief among them are Payment Card Industry Data Security Standard rules, which govern how banks and merchants handle credit and debit card data. Additionally, banks adhere to anti‑money laundering rules under the Bank Secrecy Act. They report every suspicious transaction to the Financial Crimes Enforcement Network to thwart money laundering and terrorism financing schemes. 5. Bank Employees Prevent Fraud All the encryption and AI in the world can't replace human judgment. Branch and contact center staff receive specialized training to spot red flags. Unusual cash withdrawals, frantic customers who insist on skipping standard procedures, or mismatched identification documents can prompt a live agent to pause the transaction and verify details. In digital channels, fraud investigators review cases flagged by AI. They analyze transaction histories, account profiles, and device information to determine whether an alert represents legitimate activity or fraud. Investigators can freeze the account, reverse transactions, and coordinate with law enforcement if these checks confirm fraud. 6. Consumer Awareness Is Crucial in Staying Safe You're the first line of defense against fraud. Even the best bank security can't protect you if you overlook a red flag. Check your account activity regularly — daily, if possible. Many banks offer customizable alerts for international charges or transactions above a specific threshold. Use a reputable password manager to generate and store unique credentials for all your financial accounts. Avoid reusing passwords or relying on easily guessed phrases. Enable MFA whenever possible — whether through SMS, email, authenticator apps, or biometric methods. Pause and verify unsolicited emails, texts, or calls asking for personal details. Contact your bank directly using their official phone number or website. Scammers spoof caller IDs and email addresses, so never click links in suspicious messages. Strengthening the Bond — Public-Private Partnerships With data losses of $16.6 billion recorded in 2024, banks recognize they can't tackle fraud alone. Through public-private partnerships with agencies like the FBI's Internet Crime Complaint Center, financial institutions contribute classified threat intelligence and receive advanced warnings about new malware strains and social engineering campaigns. These partnerships accelerate defensive updates to banking systems and customer education materials. How to Integrate Fraud Prevention into Your Daily Routine Maintaining a secure financial life doesn't require constant tech know-how. Simple habits can dramatically reduce your risk exposure. Begin by setting up real-time push notifications for all transactions. When you receive an alert, immediately review the details. This habit transforms you into an active participant in fraud detection rather than a passive observer. Next, periodically audit your linked accounts and permissions, including external payment apps, investment platforms, and subscription services. Revoke access for obsolete or unused apps — a smaller footprint means fewer entry points for fraudsters. Consider using virtual or disposable cards for one-off online purchases. These card numbers automatically expire after a single transaction, nipping card-not-present fraud in the bud. Many banks now offer this feature within their apps, creating a dynamic number that changes with each purchase. Finally, customer support calls should be treated like mini security drills. When the outreach team asks about a suspicious transaction, observe how they verify your identity. These practices give insights into the bank's fraud protocols and show you what information scammers might try to extract. Predicting Future Innovations in Fraud Prevention Banks never rest in their mission to eliminate fraud. Which next-generation technologies are on the horizon? Quantum-resistant encryption: As quantum computing advances, current encryption methods may become vulnerable. Financial institutions are researching quantum-safe algorithms to stay ahead of the curve. Continuous authentication: Instead of one-time identity checks, banks explore systems that analyze user behavior throughout each session, detecting real-time anomalies. Decentralized identity solutions: Blockchain-based identity systems promise an additional layer of privacy and control, allowing you to share verified credentials without exposing personal data. Collaborative intelligence networks: Banks form secure data-sharing alliances to pool anonymized fraud patterns and attack signatures. By comparing notes in near real time, institutions can spot emerging scams faster than any single bank acting alone. Enhanced mobile security: With mobile banking representing most digital interactions, banks are embedding app-level firewalls, containerizing sensitive functions, and using encrypted offline storage for credentials. This technology reduces the risk of malware and unauthorized access on your device. The Last Line of Defense — You Banks have a suite of cutting-edge tech and expert teams ready to stop cyber criminals in their tracks — but your vigilance is a component of this success. Stay informed about threats, use unique and hard-to-guess passwords, and promptly report suspicious activity to create the strongest possible defense against fraud attempts. Featured Image Credit: Photo by Tara Winstead; Pexels The post The Role of Banks in Preventing Fraud appeared first on Due.
Forbes
2 days ago
- Business
- Forbes
15 Tips To Help You Protect Yourself From Identity Theft And Related Tax Fraud
Pay attention to emails and other tricks. Identity theft remains a significant concern for taxpayers and the IRS—and it could get worse in the coming weeks. With summer on the way, identity fraud could peak—in 2024, consumers reported that most identity fraud incidents happened in the summer months, when spending is typically high. According to the Javelin Strategy & Research 2025 Identity Fraud Study, consumers lost a total of $27.2 billion in 2024 due to identity fraud, marking a 19% increase from the previous year. The increase in fraud, which includes new-account fraud, account takeover fraud, and existing card fraud, may be attributed to a rise in cyber attacks and data breaches, particularly those involving cloud service providers and data brokers. Those statistics are scary, but increased awareness can help. The more you know about how to protect yourself, the better chance you have of avoiding becoming a victim. Here are 15 tips to help you protect yourself from identity theft and tax fraud related to identity theft: Even if you are super diligent, the reality is that everyone is vulnerable to identity theft. Remember that lots of third parties have access to your data, including trusted advisors, merchants, health care providers and the government. If your data is compromised, take a deep breath and then make an effort to mitigate any damage to your credit or your accounts, including contacting your financial institution if you've detected fraud. You may need to get a new card, switch accounts, or even request a credit freeze (rules vary by state). Additionally, consider filing a complaint with the FTC at If the identity theft involves your taxes, respond immediately to any IRS notice and complete Form 14039, Identity Theft Affidavit, if necessary.
Finextra
3 days ago
- General
- Finextra
LexisNexis data breach exposes personal information
LexisNexis Risk Solutions says a data breach at a third-party provider has exposed the personal information of more than 364,000 people. 0 The breach at a third-party platform used by data analytics outfit LexisNexis for software development occurred in late 2024, says the company in a filing with Maine's attorney general. Writing to potential victims, the firm says an unauthorised party may have gained access to names, contact information such as phone numbers, postal or email addresses, Social Security numbers, drivers' license numbers or dates of birth. No financial or credit card information was affected and there is no evidence that the data has been "misused". LexisNexis has called in external cybersecurity experts and notified law enforcement. It is offering victims two years of free identity protection and credit monitoring services.
