When insurance firms launched social media initiatives, the results were rewarding.
CHANTILLY, Va., Feb. 20, 2012 /PRNewswire/ -- A recent study conducted by Javelin Strategy & Research, has found there were 12.6 million victims of identity fraud in 2012; a one million increase over the previous year. The report also found the total amount of fraud increased to $21 billion, the largest loss suffered in the past three years, and an increase of nearly $3 billion from the 2011 study. Data from the report indicated one in four consumers who received a data breach notification became a victim of identity theft, with Social Security numbers being the most damaging piece of personal information stolen.
As a co-sponsor of this year's study and a leading provider of consumer and corporate risk management services, Intersections Inc. (NASDAQ: INTX) remains committed to the prevention of identity fraud and encourages consumers to be vigilant when it comes to the protection of their personally identifiable information.
"There are a lot of mis-perceptions about identity fraud but with fact-based studies like this, consumers, financial institutions and service providers can be empowered to work together to help combat the threat of identity fraud," said Steve Schwartz, President of Partner Services for Intersections Inc. "Fraudsters are becoming savvier, especially as our society becomes more reliant on instant gratification through the usage of the Internet and wireless devices. We simply cannot fight this battle alone and must continue to partner together to continuously enhance our existing capabilities and provide the tools and resources needed to help consumers protect what's most important – their identity."
Intersections Inc. has put together tips for consumers to help guide them in the protection of their personal information.
For more on the report's findings, please visit www.intersections.com.
Intersections Inc. (NASDAQ: INTX) is a leading provider of consumer and corporate identity risk management services. Intersections provides various levels of service to more than 8.2 million consumers. Those services are offered through North America's leading financial institutions, directly to consumers under Intersections' award-winning Identity Guard® brand (http://www.identityguard.com), and through the company's exclusive partnership with ITAC, the Identity Theft Assistance Center. Since 1996, Intersections has protected the identities of more than 35 million consumers.
SOURCE Intersections Inc.