Expert: Cash Cow Of Credit Theft Is ID Information
NORTH TEXAS (CBSDFW.COM) – The security of shoppers has been put to the test since Christmas. Days after a security breach at Target the company took out ads in newspapers in North Texas and across the country — apologizing.
But Target is one of three major businesses dealing with data breaches that put customer information at risk. Target was hit on Black Friday and last we learned about a security breach at Neiman Marcus. Customers are also reporting the possible compromising of thousands of Bank of America credit card accounts.
In total, millions of consumer’s credit cards and personal information have been put at risk over the last few weeks.
Nowadays the question isn’t if your financial information will be compromised, but when.
While most people worry about picking up the tab for someone else’s shopping spree, analysts say the cash cow in credit data theft is identity information.
“People also steal sensitive personal information, such as your social security information,” explained Professor Husseign Cavusoglu, who studies identity theft. “They can use this information to engage in fraudulent activities to exploit your credit history.”
Cavusoglu strongly encourages everyone to religiously review their bank and credit card statements and suggest having your creditors check your history, to ensure someone hasn’t created an account with your information.
(©2014 CBS Local Media, a division of CBS Radio Inc. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed.)
- Joseph Hutcheson’s Death Being Ruled A Homicide
- Dallas Police Concerned For Safety After Harris Co. Deputy Shooting
- Deflategate Talks End With No Deal; Judge To Rule This Week
- Obama Renames America’s Tallest Peak
- Hulk Hogan Apologizes For Racist Remarks
- Man Fights To Take Pregnant Wife Off Life Support
- Cowboys’ Romo Update: Complication In Back Surgery
- Flu Cases Spike In Texas, 13 Dead In Houston Area
- 70-Year-Old Brutally Attacked Outside Restaurant
- Owner Reunites With Dog 4 Months After ‘Dognapping’
- PHOTOS: Your Pet Pictures