What Happens to an Identity Once it’s Been Stolen?

What Happens to an Identity Once it's Been Stolen? How can a What else can business protect What can happen to a stolen identity? What's the value of When the thieves do with stolen information? their customers' a stolen identity? identity is used identities & privacy? 1 Open new accounts Criminals are usually in a race against the clock since banks and Once a data breach has Secure Documents, been discovered, the value of the stolen Equipment and Electronic Data customers rush to identities drops quickly. PASSPORT deactivate accounts 555 555 555 555 once a breach has been recognized. After the Target breach was 70% Obtain announced, stolen card information government documents The fraudster can use fell in price by as much as Implement robust identity verification and fraud stolen identity and account information, such as credit card data, to create a physical card that can be used to make store purchases. prevention methods that go beyond basic data matching - which fraudsters can easily manipulate with stolen identity information. Once customer account The reason for the price drop information is stolen, was because card information Obtain student data is sold in bulk to was advertised as "100% valid" financial aid cybercriminals, often on forums or websites. and guaranteed The criminal can now In the process of buying and selling, the price of an identity depends on a few factors buy items that can be easily resold and hard to trace, such as electronics and gift cards. Once sold, the owner can use it or resell it again. Apply for a job Train Secure vendor employees relationships The more the %24 criminal knows % of the data about the data, that is still valid Drain checking and savings accounts the more valuable it is Create a response plan SOURCES sources: http://krebsonsecurity.com/2014/02/fire-sale-on-cards-stolen-in-target-breach/ http://www.forbes.com/sites/frontline/2014/06/18/the-underground-economy-of-data-breaches/ https://www.fcbresource.com/SecurityCenter/What-can-identity-thieves-do-with-stolen-personal-aspx http://www.sba.gov/community/blogs/community-blogs/business-law-advisor/how-small-businesses-can-protect-and-secure-cus ĪDOLOGY %24