The Selling of Consumer Information and Identity Theft

In today's digital age, our personal information is constantly being collected and shared. This information can be used for a variety of purposes, including marketing, fraud prevention, and even identity theft.

One of the biggest concerns about the selling of consumer information is that it can make it easier for identity thieves to commit fraud. When criminals have access to your name, Social Security number, date of birth, and other personal information, they can use it to open new accounts, take out loans, or even file taxes in your name.

In 2021, the Federal Trade Commission (FTC) received over 3.2 million reports of identity theft, resulting in losses of over $6.1 billion. And the number of identity theft cases is only expected to grow in the years to come.

There are several ways that the selling of consumer information can lead to identity theft. For example, if a company's data security is breached, your personal information could be stolen and sold on the dark web. Or, if a company sells your information to a third party without your consent, that third party could use it for malicious purposes.

Even if your personal information is not stolen, it can still be used for identity theft if it is not properly protected. For example, if you use the same password for multiple accounts, and one of those accounts is hacked, the hacker could then use that password to access your other accounts.

There are a number of things you can do to protect yourself from identity theft, such as:

• Using strong passwords and unique passwords for each account.

• Enabling two-factor authentication whenever possible.

• Monitoring your credit report for any unauthorized activity.

• Putting a fraud alert on your credit report.

• Shredding any documents that contain your personal information.

• You can also take steps to limit the amount of personal information that is sold to third parties. For example, you can opt out of pre-screened offers, and you can review your privacy settings on social media and other websites.

The selling of consumer information is a complex issue, and there is no easy solution. However, by taking steps to protect your personal information and being aware of the risks, you can help to reduce your chances of becoming a victim of identity theft.

ABOUT 1FORCE: 1FORCE specializes in providing critical technical and security related services to help our customers meet the demands of the modern world. Our range of services includes cutting-edge Cyber Security solutions, Background Investigative Services, and a unique focus on emerging technologies.