Your account holders entrust you with their personal and financial information. They also rely on you to protect it. Their identities and their wealth are more than just a name and number; they’re the foundation of who they are and the relationships that they’ve forged.
With the total number of identity crime victims at a record high, Financial Institutions (FIs) must be proactive to ensure that fraud and security incidents don’t rob them of account holder loyalty. Criminals can easily manipulate financial, medical, government, criminal, and even employment records. This sheer breadth of misuse makes identity crimes hard to detect, and even harder to repair without the right resources. Continue reading
**Note: The government shutdown came to an end on January 28, 2019 after 35 days. Delays are still expected as agencies work through more than a month of backlog.
The U.S. government shutdown that started on December 22, 2018, is now the longest on record and is impacting more than 800,000 federal workers as of the time of this writing. Although the impact is clear for those government employees directly in the crosshairs, the full effect is yet to be realized for U.S. consumers.
Here are two federal agencies whose lack of funding could prove to endanger citizens’ defenses against identity crimes and fraud. Continue reading
As new technologies emerge to transform the status quo, so does the opportunity for innovation around banking and payment services. Financial business leaders everywhere need to ensure they are investing in the right technology, and in some cases move away from legacy operations, even if it eats their own lunch.
But, as new technologies emerge, so to do the threats facing the industry. A lot of this has to do with the accelerated adoption of a digital lifestyle by consumers and enterprises. As a result, financial institutions must evaluate all possible risks to uphold the security standards of their account holders who entrust them with their sensitive personal and financial data. Continue reading
New fraud statistics from Javelin Strategy & Research’s Report, 2018 Identity Fraud: Fraud Enters a New Era of Complexity reveal growing consumer sentiment toward financial institutions as identity crimes hit another record-high. This comes despite industry best efforts to mitigate fraud. Continue reading
Javelin Strategy & Research recently named EZShield an Identity Protection Leader — earning their highest recognition for identity theft resolution services among many other identity protection providers.
The announcement came as part of Javelin Strategy & Research’s Identity Protection Services Scorecard. The annual report highlights leaders in identity protection, current fraud trends and changing consumer needs.
Data Privacy Day is right around the corner! This international celebration occurs on January 28 and promotes advocacy for privacy and data security awareness — particularly the protection of personally identifiable information (PII).
EZShield is proud to be a Data Privacy Day Champion. And in doing our part to promote this event, it seemed like the perfect opportunity to get #PrivacyAware with a transparent analysis of the current data security landscape and derive learning lessons as we move ahead. Continue reading
“An investment in knowledge pays the best interest.”
– Benjamin Franklin
Franklin was a pioneer in financial education and often oozed witty, yet practical wisdom. In fact, the man attributed with “a penny saved, is a penny earned” even authored one of the first widely-published financial advice pieces. Franklin understood the value of financial education — and made it a life mission to empower individuals through knowledge. Continue reading
The Pew Research Center reports 64 percent of Americans have been victims of at least one data breach.
A data breach occurs when personal or financial information is unlawfully viewed, stolen or used. Exposure can stem from malicious sources, like hacking and theft, or can be seemingly innocent in nature, such as an employee improperly disposing of sensitive files. Continue reading
New research from Javelin Strategy & Research’s 2017 Identity Fraud Report knits an intricate relationship between consumer personas and identity crime risks.
In 2016, an estimated 15.4 million consumers were victims of identity theft and fraud, up from 13.1 million the previous year. This marks the highest identity victimization rate since Javelin Strategy & Research began tracking the trend in 2003. Continue reading
As we round out the current year, the data security world is buzzing with year-end reports and data security predictions for 2017.
From cybercrime to payments fraud — identity crimes took a dramatic turn in 2016. This year-end data paints a telling story of the state of data security. Some changes were for the best, others for the worst. However, there are a few qualitative findings that offer even more insight into the future. Continue reading