Another Epidemic to Worry About: Identity Theft
by Emma Patch, Staff Writer, Kiplinger's Personal Finance
Jun 05, 2020
1 minute
Identity thieves are increasingly using stolen information to hijack their victims' accounts, a costly type of fraud that's expected to increase as the COVID-19 pandemic forces more Americans to work and shop online.
The number of victims of, total losses rose because account-takeover fraud is more profitable for perpetrators. Javelin also predicts an increase in phishing attacks and "card not present" fraud, in which stolen credit card data is used to make purchases online, by phone or through the mail.
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