Technology has paved the way for many an innovation here in the United States, there is certainly no doubt about it. From computers to smart phones to various medical equipment to teaching tools, technology as played a role in many important areas of growth not just within this country, but in many other places (particularly in other high developed countries) all throughout the world. For many people, a life without technology would feel very much like a life not worth living, and many of us would consider ourselves to be very technologically reliant and even dependent.
Take, for instance, the matter of money. Gone are the days when everyone carries cash. In fact, unless you work at a job where you’re regularly making cash tips, carrying cash on your is more rare than it is commonplace. Most people simply rely on their credit cards and debit cards for all transactions, from their online purchases to their in-store buys to their meals out to their nights on the town. Credit cards and debit cards, especially in addition to mobile banking apps, have made money management and even money spending easier than it has ever been before.
However, this does not mean that everything surrounding credit cards and debit cards is yet as it should be. Unfortunately, the widespread use of credit cards and debit cards alike means that fraud surrounding these purchases is growing more commonplace – and more likely to happen to you. Credit card fraud very frequently leads to identity theft, and is a top reason that identity theft occurs here in the United States, with more than 18% of all identity theft cases that occur over the course of a year typically attributed to credit card fraud (according to data that was gathered back in the year of 2017, now a couple of years in the past).
New account fraud is particularly common, as people who have a new credit card or debit card account are less likely to be as aware of the security measures that they should be taking – or that identity fraud and credit card fraud is even really a problem in the first place. In fact, many people who are victims of new account fraud (also known as NAF) do not even actually realize that they have been victimized. In fact, as many as 15% of such victims only become aware of the crime that has taken place when they get back their credit report, showing that higher levels of diligence can help to limit the damage that credit card fraud and identity card fraud can cause.
Fortunately, there are a number of steps that various companies and businesses can take to implement an enrollment fraud solution. This enrollment fraud solution is likely to take some trial and error, but having any enrollment fraud solution at all in place can help to reduce rates of things like synthetic identity fraud as well as many other types of fraud. An enrollment fraud solution might look different for every company, even if just slight variations are noted. For instance, some companies might implement an enrollment fraud solution that involves an identity verification service to ensure that the users of any given credit card are who they say that they are and are not instead perpetrators of credit card fraud.
And security protocols like the typical enrollment fraud solution are oftentimes very much welcomed by customers all throughout the country and even beyond, especially when it comes to various online transactions. In fact, around 66% of all online shoppers said that they very much appreciate online security protocols, as it likely helps them to feel safer about the purchases that they are making, something that can be difficult to do without the use of such protocols when buying a product online. Fortunately, more companies are instituting and enforcing these security policies than truly ever before, ideal for many.