Despite modern verification controls, identity theft remains one of the most pervasive threats to both individuals and enterprise organizations. U.S. Federal Trade Commission statistics show over 1 million identity theft reports annually, with related fraud and imposter scams accounting for billions in financial losses each year. While stolen credit cards enable rapid, short-term monetization, Social Security numbers (SSNs) represent a far more permanent and dangerous tier within the cybercrime ecosystem, because unlike payment cards, they cannot simply be deactivated. Once exposed, an SSN can support enabling unauthorized lines of credit, synthetic identity fraud, and sophisticated tax scams.
Read more…
Source: Rapid7 News
Sign up for the Cyber Security Review Newsletter
The latest cyber security news and insights delivered right to your inbox
Related:
- NSA Advocates Data Sharing Framework
June 23, 2017
The economics of cybersecurity are skewed in favor of attackers, who invest once and can launch thousands of attacks with a piece of malware or exploit kit. That’s why Neal Ziring, technical director for the NSA’s Capabilities Directorate, wants to flip the financial equation on bad guys. “We need to conduct defenses in a way that ...