Overwhelming Identity Theft Risks Demand a New Approach to Securing Personal Information

Overwhelming Identity Theft Risks Demand a New Approach to Securing Personal Information
09.06.2020 10:33 am

Overwhelming Identity Theft Risks Demand a New Approach to Securing Personal Information

Security and Compliance

To confront overwhelming risks of data exposure that can lead to identity theft, F-Secure has launched ID PROTECTION, a new solution that provides a comprehensive approach to securing personal information and accounts.

F-Secure ID PROTECTION continuously monitors and detects exposed personal information online, responds quickly to threats to users' identity, and doubles as a password manager to prevent account takeovers. Utilizing F-Secure's unparalleled understanding of attackers' mindsets and methods, this solution offers a powerful combination of human intelligence and real-time monitoring that helps track down breached data.

"When your data leaks, it could end up for sale on the Dark Web within months, putting you on combo lists that could make you an easy target for advanced attacks," says Perttu Tynkkynen, Vice President, Consumer Sales and Marketing at F-Secure. "Armed with your credentials, online criminals can then easily take over your online accounts and start ordering goods with your credit card. This can happen even before the news of the breach goes public."

A new F-Secure survey finds that nearly 4 in 10 (37%) of users are aware of at least one data breach involving an online service they use.* Survey participants reported that they have 18.1 accounts on average. Given that 41% say they reuse the same password on multiple accounts and 56% use the same password on multiple accounts with slight variations, one leaked credential could quickly lead to more than a dozen breached accounts.

Despite this lack of security precautions, nearly 2 in 3 internet users (65%) report they're worried or very worried about someone stealing their identity for online purchases or loan fraud.**

"Coming up with a strong, unique password for one password is tough - creating and remembering almost 20 strong, unique passwords is almost impossible, and even if you do everything right, your online services can still be breached," says Tynkkynen. "This pervasive risk demands a new approach to securing personal data online, hardening your identity and accounts, and alerting you whenever your personal data is found in the wild.'"

Some of the ways F-Secure ID PROTECTION's comprehensive approach helps eliminate identity theft risks include:

  • Identity management that provides instant alerts and guidance how to respond when personal information has been found as part of a breach or data leak
  • Comprehensive breach database consisting of billions of recovered assets and plain text passwords
  • Combination of human intelligence and Dark Web monitoring to recover breach data up to 6 months faster
  • Protection for the entire family with a single subscription
  • Password management that makes it easy to create unique, strong passwords that are automatically synchronized and auto-filled on all devices

F-Secure ID PROTECTION is available both with monthly and yearly subscriptions and is now included as part of F-Secure TOTAL premium cyber security package. Find out more about the solution and how to protect your identity on F-Secure's website.

*Source: F-Secure Survey, April 2020, 11 countries (USA, Japan, UK, France, Germany, the Netherlands, Italy, Sweden, Brazil, Mexico, South Africa), 400 respondents per country = 4400 respondents (+25years)

**Source: F-Secure Survey, May 2020, 12 countries (Brazil, Finland, France,  Germany, Italy, Japan, Mexico, the Netherlands, Poland, Sweden, UK, USA), 400 respondents per country = 4800 respondents (+25years)

Related News

Kompli-Global helps companies expose bad actors within their customer base

Every major organisation in the United Kingdom has customers that are up to no good, potentially with criminal intentions. Fraudsters and money launderers are clever and, once... Read more »

NICE Actimize launches advanced SURVEIL-X Conduct risk capabilities to uncover employee misconduct and market abuse

With more employees working from home or remote sites, financial services organizations (FSOs) are facing new compliance and regulatory challenges.

Read more »

Kroll adds consumer credit monitoring to suite of UK data breach notification services

Kroll, a division of Duff & Phelps, a global leader in risk mitigation, investigations,... Read more »

RegTech and SupTech: Innovation, Evolution and FCA development

In the latest episode of the RegTech 20:20 podcast from... Read more »

NatWest partners with entrepreneur success story Synalogik

NatWest have announced a partnership with Synalogik, a member of their... Read more »

QuantaVerse’s AI-powered AML solutions secure highest possible ratings from independent model validation firm

QuantaVerse, which uses AI and machine learning to automate financial... Read more »

Magazine
ALL
Free Newsletter Sign-up
+44 (0) 208 819 32 53 +44 (0) 173 261 71 47
Download Our Mobile App
Financial It Youtube channel