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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Lifelock, Inc. (delisted) | NYSE:LOCK | NYSE | Ordinary Share |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 23.99 | 0.00 | 01:00:00 |
By Peter Rudegeair
Identity fraud kept rising last year in the U.S., despite the rollout of new security chips on U.S. credit cards.
A new study Wednesday reported that identity fraud hit 15.4 million U.S. consumers in 2016, the highest level in more than a decade. To protect credit and debit cards and online bank accounts from fraud, Javelin Strategy & Research, which co-wrote the report with identity-theft protection firm LifeLock Inc., recommended consumers follow the following tips:
Sign up for transaction alerts. Growth in identity fraud was driven by criminals buying goods and services online with stolen card information, what's known in the industry as "card-not-present fraud." By opting into email or smartphone alerts every time a transaction is recorded on a card, customers will be able to detect fraudulent activity more quickly, ideally preventing the follow-on fraud that sometimes occurs in the days and weeks after the initial breach.
Consider mobile wallets. Apple Inc's Apple Pay and Alphabet Inc's Android Pay are among the mobile-payment options that don't share a consumer's credit-card details with merchants when a purchase is made. These services generate a unique token to authorize a transaction, so if hackers breach a merchant's payment system, they wouldn't be able to steal the underlying credit-card data of mobile-wallet users.
Go private. Swindlers often comb through social media to get clues to a consumer's personal information and use them to take over accounts. Setting strong privacy controls and validating accounts with obscure "challenge" questions instead of more-easily tracked personal data should limit those kinds of fraud.
Write to Peter Rudegeair at Peter.Rudegeair@wsj.com
(END) Dow Jones Newswires
February 01, 2017 14:17 ET (19:17 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.
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