Identity fraud survey report indicates that anything related to an account that has money is not safe from hackers including credit card accounts, eBay, Amazon and PayPal.
Javelin’s “2014 Identity Fraud Report” indicates that existing card fraud (ECF) became increasingly popular with criminals, contributing to the near-record number of identity fraud victims. Javelin’s “2014 Identity Fraud Report” provides a comprehensive analysis of fraud trends in the context of a changing technological and regulatory environment in order to inform consumers, financial institutions and businesses on the most effective means of fraud prevention, detection and resolution.
This data clearly exposes just how ineffective current security practices have become,” said Alphonse Pascual, a senior analyst at Javelin who co-authored the study. “The businesses we trust with our personal information have become easy targets.”
While the number of victims is up, less money was stolen: $18 billion last year, down $3 billion from 2012. One reason for the decline: Financial institutions are doing a somewhat better job of spotting fraud and shutting down accounts as soon as it’s detected.
Data breach also compromise your personal information
