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UK public not ready for increased risk of identity fraud

– 56% of consumers not using unique passwords across accounts

-ID fraud predicted to increase as criminals capitalise on lockdown

-ID Protection offers an automated solution against data breaches

London, UK – 7th July 2020: At a time when identity theft and data exposure is on the rise, global cyber security provider F-Secure has found that many online users aren’t adequately protecting themselves against data breaches.

Now more than ever there is a huge reliance on online services for the likes of home-schooling, shopping, communication and medical appointments, all requiring accounts with log-ins and passwords. With this comes the increased risk of data breaches and the potential for users’ details to end up on the dark web ready to be exploited by criminals.

Recent F-Secure research has found that 41% of respondents use the same password on multiple accounts with 56% using the same password on multiple accounts with slight variations. With the average person having 18 password protected accounts one leaked credential could quickly lead to multiple risks for each user.

The survey found that the risks are well known however with nearly 2 in 3 (65%) internet users worried or very worried about having their identity stolen for online purchase or loan fraud*. 37% of those asked say that they were aware of at least one data breach involving an online service they use.**

Tom Gaffney, principal security consultant at F-Secure said, “It’s interesting that despite many online users being aware of the dangers of ID theft that many still aren’t putting enough measures in place to protect themselves. For many ID theft is distressing, time consuming and costly so it’s crucial people protect themselves more so than they are.  There could be a number of reasons why people are risking themselves including lack of awareness or inconvenience but now more than ever they need to be clued up on it.”

CIFAS research has found that cases of identity fraud are up nearly a third over the past five years and are projected to increase as criminals look for ways to exploit the sharp rise of online reliance during the pandemic.

In response to the findings F-Secure has launched ID PROTECTION, a new seamless solution that provides a comprehensive approach to securing personal information and accounts.

Tom Gaffney continued: “We realise that coming up with a strong, unique password and remembering it for one account is tough let alone 20.  And still even if you do everything right, your online services can still be breached. This pervasive risk demands a new approach to securing personal data online, where users must harden their identity and accounts, and know when their personal data is found in the ‘wild.”

ID PROTECTION continuously monitors and detects exposed personal information online and is able to respond quickly to threats to users’ identity, whilst doubling as a password manager to prevent account takeovers.

ID PROTECTION’s features include:

  • Identity management that provides instant alerts and guidance how to respond when personal information has been found as part of a breach or data leak
  • Comprehensive breach database consisting of billions of recovered assets and plain text passwords
  • Combination of human intelligence and Dark Web monitoring to recover breach data up to 6 months faster
  • Protection for the entire family with a single subscription
  • Password management that makes it easy to create unique, strong passwords that are automatically synchronized and auto-filled on all devices

 

F-Secure ID PROTECTION is available both with monthly and yearly subscriptions and is now included as part of F-Secure TOTAL premium cyber security package. Find out more about the solution and how to protect your identity on F-Secure’s website

 

 

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Alice Instone-Brewer

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