The expectation for cyberattacks in the coming years as well as growing concerns over privacy has led Fortune Business Insights to forecast a surge in the identity theft protection service market to $27.9 billion by 2029 from $10.07 billion in 2021. And if you are the victim of fraud, many of these services also help assist in restoring your identity. These and other services monitor your personal information, credit files and the web, as well as alert the user for suspicious or fraudulent activity. There are also identity protection services like those from Norton LifeLock ( NLOK), Allstate’s ( ALL) Identity Protection, Experian’s ( EXPGY) Identity Works, Fair Isaac’s ( FICO) My FICO and Equifax’s ( EFX) ID Watchdog. Other options include restricting the data collected during your online activities by using browser extensions that block ads and the data they collect.
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Anti-virus software and two-factor authentication are some other steps that can be taken as well. How can individuals protect their information? The easiest free thing to do is to use strong, unique passwords. And unlike a credit card or Facebook account, medical records can’t be canceled and replaced. The reason for that sharp difference is the amount of information contained in one’s medical records, including the patient’s medical and behavioral health history and demographics, as well as their health insurance and contact information.
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driver’s license $150 and various European Union passports $3,800.Ĭybersecurity firm Trustwave pegged the black-market value of medical records at $250 each vs. A verified CashApp account can get $800, a hacked Coinbase (COIN) verified account $120, a hacked Facebook account $45, a U.S. According to the Dark Web Price Index 2022, individual credit card data can fetch $10-$120. This is because cyber attackers are looking to monetize stolen data on the dark web.
While companies tend to be the victim of cyberattacks, Verizon’s 2022 Data Breach Incident Report found that 70% of the data compromised in cyberattacks is personal data. Companies Cyberattacked, Personal Data Hacked
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