Identity theft has become a defining threat in the virtual sphere and with the rate cybercrime is surging things may only get worse for unsuspecting victims.
Over the past two years, cybersecurity has evolved at a break-neck pace, in step with the emergent cyber threats thriving during the pandemic. This evolution is likely to continue in 2022. Identity theft in particular has become a defining threat in the virtual sphere, as recent statistics highlight.
Since the outbreak of the COVID-19 pandemic, cybercrime has flourished, taking full advantage of the necessity of shifting business operations online in the context of remote work. According to a report by the US-based Identity Theft Resource Center (ITRC), the first three quarters of 2021 saw a 17% rise in the number of businesses experiencing data breaches. These breaches are one of the prime sources of identity theft.
Unsurprisingly, public awareness of the hazards of cybercrime has risen in parallel with its incidence. A recent survey found that for the majority of US respondents (87%), cybersecurity is a bigger concern for their future than either COVID-19 or the climate crisis.
But to gain insights into where the level of threat from identity theft currently lies for consumers,