A consumer group warns some protections are being weakened
of ConsumerAffairsAs we reported this week, 2024 was a huge year for data breaches, which are often the first step to identity theft. The Identity Theft Resource Center reports the number of people whose identities were compromised or misused grew again in 2024.
Slightly more than one-third of identity crime victims said they had problems proving their identity after being attacked, with 74% percent (74%) of people who were asked to verify their identities did so using a biometric.
ITRC also reports criminals increased their artificial intelligence skills this year, vastly improving their phishing lures. They created all sorts of documents used to file false insurance claims including death certificates, medical records, and accident reports.
The number of insurance accounts compromised by stolen logins and passwords and phishing scams has grown by 85% since 2022, according to government reports.
Predictions
What do we have to look forward to in 2025? Here are some of ITRCs predictions for the coming year:
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There will be less support for identity theft victims, both from a prevention standpoint and support after the fact. Federal and state agencies that currently help identity theft victims will have fewer resources.
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There will be fewer arrests and prosecutions for identity thieves, and therefore fewer fines. Thats important because fines help to fund the Victims of Crimes Act Fund.
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Criminal identity theft gangs will get larger. ITRC says these crime networks are already staffing up with criminals trained in the use of AI.
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Well have less information. ITRC said federal regulations that currently require prompt reporting of data breaches may be weakened or even abandoned in 2025.
Theres no foolproof way to avoid identity theft but one of the most effective ways is to place a freeze on your credit reports at Experian, Equifax and TransUnion, the three credit reporting agencies.
No one can open an account in your name, with your personal identifying information, until you unfreeze the reports.
Photo Credit: Consumer Affairs News Department Images
Posted: 2024-12-20 11:59:22
