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Personal data is an incredibly valuable resource for cybercriminals who are developing increasingly sophisticated ways of stealing personal information and using it to commit fraud. Although many people may understand or have at least heard of identity theft, synthetic identity theft is a less familiar concept for many people. It is a risk that everyone should be aware of in our view, as it is one of the more sophisticated and evasive methods in the current cybercrime landscape.
Your Lawyers – The Data Leak Lawyers – as leading specialists in data protection claims, are always looking to raise awareness about data security issues and the potential cybercrime that can result from data breaches. If consumers remain unconscious of the risks and how they can happen, people may then be unaware of the right to make a claim if something does happen. To hold companies to account, we can bring compensation claims against them on behalf of data breach victims.
If you think you have been affected by a breach of data protection law, you can contact us for advice on your potential claim.
The term identity theft is commonly used to describe an instance where a criminal steals your personal data for misuse, often resulting in them impersonating you. They could use your personal information to obtain access to your accounts, to open new bank or financial accounts in your name, or to request new identity documents like driving licenses and passports.
Synthetic identity theft differs from typical identity theft in that it can combine stolen personal data with fake details in order to construct a partially real identity profile of a person. The identity can also be created for fraudulent purposes, but its use can differ in some ways. Rather than stealing from a victim’s account, synthetic identity theft can allow criminals to set up their own accounts, even being able to build up a good credit score before amassing significant debts on their credit cards. Having created a fake identity to execute the crime, the perpetrators of the synthetic identity theft can often be untraceable.
Identity theft is still one of the major risks which victims of data breaches can be exposed to. While synthetic identity theft could be less likely to affect your bank balance than typical identity theft, it can still mean that criminals are using your personal details to commit a crime.
As a result, while they can go undetected, their fraud could still be traced back to you.
The growth of synthetic identity theft can also make data leaks more damaging, because criminals may need even fewer details to commit this type of fraud. It is, therefore, becoming easier for criminals to steal vast amounts of money as a result of small-scale data exposure.
Many data breach victims suffer the effects of cybercrime as a result of the exposure of their personal information. Whether it be identity theft, phishing emails or scam calls, no consumer should have to face these risks because of the negligence of a third-party data controller, which is why the law can entitle data breach victims to make compensation claims. You could be eligible to recover thousands of pounds in data breach damages to compensate you for the distress and financial loss caused.
For free, no-obligation advice, please do not hesitate to contact us today if you think you have a claim to make.
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