February 9, 2018 — US ID Fraud Hits Historic Highs – Million U.S. Victims
Robert Capps, VP at NuData, comments on a report issued yesterday by isBuzz News disclosing details of the 2018 Javelin Research and Strategy Identity Fraud Study, including that 2017 had a record high incidence of identity fraud.
It’s interesting to see the shift in fraud on Javelin Strategy & Research’s report: credit cards were once the most sought-after piece of information, and now Social Security numbers are on the top of the podium. This is closely linked to a move towards fraud schemes that don’t depend on active credit cards anymore to make a profit. Instead, other types of fraud that include new account creation and synthetic identities are gaining muscle and are used to transfer stolen funds.
For the complete article, go here.