Synthetic identity theft- an effect of data exposure

When personal information reaches the hands of cybercriminals, it can become vulnerable to many different forms of malicious misuse. While some methods are more basic than others, tactics such as synthetic identity theft can be more sophisticated and can make the perpetrator even harder to trace.

In order to maintain data security, it is important that both consumers and businesses are aware of the challenges that they are up against. This is  particularly the case for organisations that fulfil the role of a data controller, meaning that they store and process personal information disclosed to them for business-related or other legitimate purposes. However, there are unfortunately too many data controllers that fail to assess, defend against, or respond to the threats to data security, which can result in information exposure for their data subjects.

If you have had your personal information exposed, it is important to know what you can do to tackle the security risks posed, and it is also vital that you are well informed regarding your legal rights. At Your Lawyers, we can offer advice to all victims of data breaches to help minimise the blow of data breaches, as well as helping them to seek justice via compensation claims.

What is synthetic identity theft?

Identity theft can describe any occasion on which a criminal steals personal information, typically to impersonate their victims as a means of committing fraud. A few personal details can facilitate a criminal’s ability to access their victims’ private accounts, or to obtain credit cards or identity documents in their name.

In contrast, synthetic identity theft often involves another layer of fraud; rather than adopting the full, genuine identity of a victim, a criminal could instead combine the real stolen details with fabricated ones. By creating a fake identity, which can then be used to set up new bank accounts or commit credit card fraud, the criminals can be hard to trace for the police.

Other security risks of data breaches

While synthetic identity theft can require a more sophisticated criminal, even basic forms of information misuse can significantly threaten data breach victims.

For example, victims affected by the Virgin Media data breach may be less likely to face synthetic identity theft, but they could still be confronted with financial loss. The contact details that were exposed in the cybersecurity incident could have enabled criminals to target them with fraudulent communication, aiming to convince them to disclose details such as payment card and bank account details.

Make your Virgin Media compensation claim

If you have faced criminal data misuse following a data breach, it is vital that you assert your right to claim compensation. Making a claim can even allow you to recover damages for the financial losses you have suffered, which means you can receive compensation for the misuse itself.

If you were affected by the Virgin Media data breach, now is your chance to claim the compensation you deserve. You can claim for just the distress only, so join our group action today to start your No Win, No Fee claim.

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