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Private records of 147.9 million Americans along with 15.2 million British citizens and about 19,000 Canadian citizens were compromised in the breach, making it one of the largest cybercrimes related to identity theft. Equifax discovered the breach end of July, but did not disclose it to the public until September 2017.
According to the Federal Trade Commission (FTC), there were more than 650,000 victims of identity theft in 2019, making ID theft the most-reported type of FTC complaint. Protecting your identity ...
A person's identifying information often circulates on the dark web for years, causing an increased risk of identity theft regardless of remediation efforts. [80] [92] Even if a customer does not end up footing the bill for credit card fraud or identity theft, they have to spend time resolving the situation.
Cybercrime encompasses a wide range of criminal activities that are carried out using digital devices and/or networks.These crimes involve the use of technology to commit fraud, identity theft, data breaches, computer viruses, scams, and expanded upon in other malicious acts. [1]
The term identity theft was coined in 1964. [1] Since that time, the definition of identity theft has been legally defined throughout both the U.K. and the U.S. as the theft of personally identifiable information. Identity theft deliberately uses someone else's identity as a method to gain financial advantages or obtain credit and other benefits.
One such implication, which is rather commonly viewed as being one of the most daunting fears and risks of the Internet, is the potential for identity theft. Although it is a typical belief that larger companies and enterprises are the usual focus of identity thefts, rather than individuals, recent reports seem to show a trend opposing this belief.
Identity theft is the unauthorized use of another's personal or financial information to defraud an individual or entity into obtaining goods or services. The term 'personal or financial information,' typically refers to a person's name, address, credit card, bank account number, Social Security number, or medical insurance account number.
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