Many people unfortunately fell victim to identity fraud in 2020. It was another year that has been plagued by data breaches, leaks and hacks, with an increase that was widely attributed to the coronavirus pandemic.
With public awareness of identity fraud also on the rise, many consumers are increasingly concerned about their online security; and with good reason. At the Data Leak Lawyers, as a leading firm of data compensation experts, we see businesses failing to protect their customers’ data time and time again. The sheer quantity of data breaches in 2020 means that we have launched several new actions over the past year.
Why were so many people affected by identity fraud in 2020?
The greater reliance on technology has accelerated in recent years, and even more so as a result of Covid-19 pandemic. With businesses forced to move to working remotely and online, and many consumers going ‘cashless’ and having to shop online, the increase in information, and information access, has been significant.
Unfortunately, this rapid digitisation has revealed existing weaknesses in the security systems of many companies. Many also failed to catch up with the increase in identity fraud in 2020 and prepare themselves for the greater threats. In fact, some businesses seem to have an extremely careless attitude towards cybersecurity, which is why we continue to see so many incidents that lead to information exposure.
It is, therefore, unsurprising that trust in businesses is declining as far as cybersecurity is concerned.
The dangers of identity fraud
If your identity data is stolen online, there could be several different risks at play. With consumers handing over information such as home addresses, email addresses, phone numbers, and payment card details to businesses, cybercriminals can gain access to many areas of our lives.
The access can be direct if fraudsters choose to blatantly steal money from your bank account or use your card details. However, access can also be more covert in cases where fraudsters do not already have bank account information. They can carry out phishing scams, pretending to be a reputable company and sending emails designed to trick victims into handing over more details, such as banking and payment information.
The effects of identity fraud in 2020 were considerable, but they can only worsen if businesses do not rectify their cybersecurity issues. As cybercriminals continue to develop more sophisticated methods of data theft, we all need to be concerned and we all need to take heed of the threats that we face.
Identity fraud and data leak claims
At Your Lawyers – the Data Leak Lawyers – we work with thousands of data breach victims and have done so for coming up to 7 years. As such, we understand the significant financial and emotional impact that identity fraud can have on people’s lives.
We have launched several new data claims and group actions in 2020 for cases, including the LOQBOX hack and the Virgin Media Data Breach. While some of our clients are yet to fall victim to financial losses and scams, the risks are still there, and many feel they have a cloud hanging over them as they worry and stress over the potential outcomes of the data leaks.
If we are to ensure that businesses understand the severe consequences of data breaches and the importance of cybersecurity, we must hold them accountable for their failure to protect people’s information. If you have been the victim of identity fraud or a data breach in general, do not hesitate to contact us for free, no-obligation advice on your right to claim.