Protect Your Business Identity theft is a crime that has become increasingly common in the digital age. With the increasing amount of personal information stored online, cybercriminals have found numerous opportunities to steal data and impersonate other people.
In this article, we will provide more information about online identity theft, how it happens, the impacts that companies suffer and how to prevent this digital scam in companies. Find out more below.
What is identity theft?
Identity theft is the act of misappropriating how to use videocyborg to download online another person’s personal information, such as name, CPF, ID, credit card number, passwords, among other data, to commit fraud and crimes in the victim’s name.
The Future Consumer Index (FCI) study , conducted by Ernst & Young , revealed that 7 in 10 Brazilians are concerned about identity theft (71%), while 69% of respondents showed that they are concerned about the security and privacy of personal data. This is according to itforum , one of the main content and business platforms for the IT community.
How does identity theft happen?
There are several ways that identity theft can occur, Protect Your Business the most common being:
Phishing
Phony emails or messages that trick victims into any mortgage programs from developers providing personal information, such as passwords and credit card numbers.
Malware
Viruses or malicious software that infect computers and mobile devices, stealing personal data.
Social Engineering
Social engineering is the psychological manipulation of a victim into providing confidential information.
Data Leak
Security breaches in companies or websites numbers lists that store personal data, resulting in unauthorized access by criminals.
Document Theft
Theft of physical documents, such as identity cards, CPFs and credit cards.
Social media
Information shared on social media can be used by criminals to steal identity.
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Most common types of identity theft scams
Financial fraud
Using stolen data to open bank accounts, apply for loans, make purchases and other financial transactions in the victim’s name.
Electronic crimes
Using personal information to commit online crimes, such as hacking into email accounts, social networks and other services.
Benefits application
Criminals can use stolen data to apply for government benefits, such as unemployment insurance or emergency aid.
Online scams
Application of scams in the victim’s name, using their data to create fake profiles on dating or online shopping sites.
What is the impact of identity theft on companies?
Identity theft affects not only victims, but also businesses. The impacts can be:
Financial losses
Businesses can suffer financial losses when they experience identity fraud or purchase reversals and chargebacks .
Damage to reputation
The company’s image may be damaged if its customers are victims of identity theft due to security breaches.
Loss of customers
Customers may lose trust in the company and stop doing business with it.
