The only potential threat you cannot neglect in the eCommerce era
The rising of identity theft
One of the fasted growing crimes in the world of the internet is identity theft. The word itself holds a simple meaning, which is when your identity gets stolen. On the internet your identity is always at risk, anything can be stolen anytime and you are at more risk than that you are aware of. Identity theft can be dived into two sectors: True name and account takeover. What true name identify theft stands for is when your identity gets stolen and the hacker uses your identity to create new accounts, these accounts could be used for anything including expensive purchases the hacker himself may not be able to afford. What’s worse is the thief is most likely to change the billing address, so you as a victim may never even find out that your identity is being misused in such ways. The second type is account takeover, where instead of creating accounts using your identity the thief hacks into your current accounts. In this method, the thief is able to change your passwords or make purchases with your card. In worst-case scenario the thief may even transfer funds from your account or make withdrawals.
These identity thefts are a lot easier to occur than one may imagine. For example, it can happen when you purchase products online. Very recently the biggest cosmetic company in brazil named Natura faced a massive security glitch, numerous customer information was leaked by the beauty company including the financial data of their customers. This also means the public had access to their customer data without any security authentication. When your information is made so easily accessible, there are hundreds of hackers waiting out there to have your identity.
Not only this but identity theft can be really time-consuming to recover from, you have to make constant calls to recover your identity not to mention the amount of money you have to spend to clear out your name and credit history.