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Identity theft: keeping fraudsters at bay

Identity theft: keeping fraudsters at bay

image credit: adobe stock

By now, businesses are well aware of the standard cyber security protocols surrounding passwords, the importance of sharing data securely, and so on. Yet, identity theft and fraud are still prevalent problems for companies across every industry.

Identity theft(opens in new tab) is a criminal act whereby an individual or a business’ identity is illegally assumed for fraudulent activity and illicit economic profit. If the stolen identity is adopted and used, this then amounts to identity fraud.

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