IDENTITY FRAUD COULD BE REACHING A ‘TIPPING POINT’ ACCORDING TO A NEW REPORT

On 23 November, Professional Security Magazine Online reported that a new report from a data intelligence company GBG says that its State of Identity 2020 report found that a ‘trust gap’ may be widening between businesses and consumers, as identity theft becomes prevalent and businesses become over-confident.  2020 due to the pandemic has seen new cohorts of customers join the digital economy: a third of consumers aged 75 or older signed up to a new online account this year, for example.  GBG suggests that the public has become more concerned about fraud as a result of Covid-19, and despite many instances of over-confidence, businesses feel unprepared for emerging threats such as ‘social engineering’ and ‘synthetic identity fraud’ (whereby a criminal combines real and fake information to create a new identity).

https://www.professionalsecurity.co.uk/news/case-studies/identity-2020-report

The report is at –

https://www.gbgplc.com/the-gbg-state-of-digital-identity-2020/

I had omitted the following link (as it did not seem to generate much interest!), but it seemed time to add it again and say that, if you would like to make a (polite) gesture and help me with my removal and computer costs, I have a page at https://www.buymeacoffee.com/KoIvM842y

Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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