Security News > 2022 > June > Pandemic-related identity fraud: How serious is it?

The Identity Theft Resource Center and LexisNexis Risk Solutions have released the Pandemic-Related Identity Fraud Crime Victim Impacts Report, which shows how individuals and government agencies have been impacted since 2020 by an unprecedented wave of government benefits identity fraud.

"We speak with identity crime victims every day at the ITRC," said Eva Velasquez, President and CEO of the Identity Theft Resource Center.

"However, during the past two years, we have seen a volume and velocity of identity fraud on an unprecedented scale. This report shows the scope of the fraud, and gives us a roadmap for how to help avoid similar mass fraud events while respecting consumer privacy."

Pandemic-related identity fraud concerns 42 percent of pandemic benefit applicants reported being the victim of identity fraud that led to them being denied benefits or benefits being disbursed in their name when they had not applied.

31 percent added steps to their identity verification process, 13 percent added new tools, 5 percent moved to an automated ID verification system, and 3 percent added a new vendor.

71 percent of those who made changes to their identity verification process saw no change in the acceptance/rejection rate, while 24 percent saw the acceptance rate increase.

News URL

https://www.helpnetsecurity.com/2022/06/08/pandemic-related-identity-fraud/