What is the product or service an Identity Thief is stealing? Moreover, what is it about Identity Theft that has allowed it to become the fastest growing white-collar crime in the U.S. and the UK?
“The average street crime averages about two-hundred dollars, while the average Identity Theft averages about five-thousand dollars”, said Steven Domenikos, Founder, & CEO of Identity Truth. Steven went on to say an identity thief spends less time, has less risk, and profits more. It makes sense that criminals gravitate towards this kind of crime.
Starting and running a company is not new to Steven, not only has he done it successfully multiple times over the past twenty years, he has also sold them for as much as four-hundred fifty million dollars. This time the notions and principles of personal privacy instilled in Identity Truth are held very dear to his heart. Steven believes what he is doing is fundamental to human existence. Keeping ourselves and our families safe is fundamental to our existence, and is more than just physical safety. Steven also takes into account the significance of an individual’s digital persona to be safe.
A previous guest this week, David Perry, Global Director of Education for Trend Micro made it a point to address the value of an individual’s credit score in today’s digital world. It is becoming increasingly an important aspect of one’s ability to function financially. Steven Domenikos also discussed the ease of compromising someone’s identity, simply by manipulating letters and numbers, which ultimately affects an individual’s credit score; thereby, compromising someone’s assets. “Our identity is intimately linked to our assets today”, said Steven.
Steven went on to say, “Our digital persona is absolutely invaluable today and we must make every effort to safeguard it”.
What was Steven’s “why” to get involved in providing the safeguards needed to keep you, your personal information, and your identity safe. If you ever wanted to make a case why we should reduce the amount of voluntary information seen from a visionary’s perspective, then I suggest you fast forward to time stamp: [10:57] – [14:53] and listen to Steven Domenikos reasons why. Make no mistake the cost of sharing personal information about ourselves leaves us vulnerable in the social media world, and the world of creating “Synthetic Identities”.
What comes to mind when you hear the phrase, “Smart Phones Requires Smart People”? “That’s a great expression”, said Steven. He went on to say, when you use a smart device you need to be aware of what you are getting when downloading, because some manufacturers are not vetting all the applications. This means, you run the risk of downloading fake applications, for example, a fake banking (phishing) application.
It never fails, no matter if we are interviewing the Attorney General, the lead investigators with cybercrime units, the National Safety Director for the National Center for Missing and Exploited Children, or the Founder & CEO of Identity Truth, each one has heard it, “I never thought this would happen to me”. That is the point of taking a pro-active approach and putting in place the barriers to defend that from happening to you.
Okay, True Confessions…When Steven was answering Bill’s question about how our readers, and/or listeners could become more aware of how to detect a “phishing” site, he sited the trusted logos usually displayed at the bottom of the page and posed the question, “How do you know they are real”?
Who is to say they are not just a cut and paste? Have you ever clicked on any of them? Why not? If you do and nothing happens, it may be good indication something is not legitimate with the site…Gone phishing!
What sets Identity Truth apart from the rest of the industry? “We view the problem of identity and protection really as an extended problem of consumer security”. “We see identity protection really as an extension into the physical world.” It is not a financial problem, a credit bureau problem, nor is it about fraud alerts. Identity Truth is about being pro-active, to capture information that affects you and to inform you before it is too late and compromises you.
Do you remember the commercial about the spaghetti sauce describing all the wonderful herbs and spices that makes up that award winning taste, which coined the phrase…”It’s in there”. Well, when it comes to great unique technologies, used in Identity Truth… “It’s in there”!
When you think about it, why not take all those powerful profiling technologies, and profile the identity thief to a “T”. Then, correlate that information to predict the identity thief’s behavior and use that information to deduce and anticipate the movement of the criminal to protect your customers’ identities…An early warning system!
Sound “byte”: Monitor and Alert…Control the flow of information. The prevention theory is the best protection.
david c ballard
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