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Business action needed on ID fraud, says expert
Oct 18 2011, 15:40 PM
Firms storing confidential customer data need to respond to the persistent threat of identity fraud, it has been suggested.
Neil Munroe, chair of the Identity Fraud Communications Awareness Group, believes that the issue is "not going away", indicating that steps taken thus far by firms to protect customer data are not effective enough.
He goes on to claim that fraudsters are evolving their practices and finding more ingenious methods of obtaining this information.
Businesses themselves can even be cloned - particularly on social media sites - which can cause irreparable damage to corporate reputation.
"The more that [businesses] embrace new technology to process orders et cetera, the more they need to make sure that they are dealing with genuine customers. It's an area that businesses should be picking up on as well," Mr Munroe concluded.
According to estimates from the Federal Trade Commission as many as nine million Americans have their identities stolen each year.
Posted by Rachel Wheeler
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