Social Media the Cause For Identity Fraud?!

I knew this was coming, but I didn’t think it would be this bad.

With all the apps and social media outlets you relinquish certain privacy rights to, this issue was bound to happen.

According to the 2012 Identity Fraud Report, consumers’ social media and mobile behavior may be putting them at greater risk for identity theft.

This year’s report reveals that identity fraud in the U.S. increased by 13 percent in 2011, with more than 11.6 million adults becoming fraud victims. Of those victims, people who use the social media sites LinkedIn, Google+, Twitter and Facebook are experiencing higher incidences of fraud, although there’s no proof of direct causation, according to the report.

It’s said to be inappropriate sharing of information via social media that could be contributing to an increase in fraud.

According to Jim Van Dyke, founder and president of Javelin, “People are putting a lot of information out there without thinking about it,” he says. “Nobody’s going to say, ‘bail out of social media,’ but people need to be careful about what they’re putting out there and how it correlates to what they give to banks.”

Source – Banktech.com

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