After Equifax, Collaboration is Necessary for a Safe and Secure Identity Protection System
Article on September 26, 2017
- Cyber Security
- Data Privacy
- Identity Theft and Fraud
- Incident Response
The Equifax cybersecurity incident is another reminder that our identity information is constantly at risk.
Before the incident, consumers addressed this risk by signing up for identity theft protection services and being more vigilant about protecting their personal data. Financial fraud, unfortunately, is but one risk from this incident and the next incident may be exploited for child identity fraud, social security fraud, driver’s license fraud, and other criminal behavior.
In response to the growing risks, technology firms sought to develop and deploy an increasing array of defenses against identity theft risks and more such as the growing problems associated with synthetic identity fraud and medical identity theft.
Now, as we all grapple with the latest incident and how to respond, either as an enterprise or a consumer, the importance of having a nimble, capable identity monitoring and protection system that has the safety and security needed to endure well into the 21st century becomes critical.
The US is already on track to surpass all previous years’ number of data breaches, meaning that if the current rate continues, 2017 will see a 39 percent increase over last year. In 2016, a record-setting 1,093 breaches were reported, but 2017 is already in line to post over 1,500 data breaches.