As technology progresses, so do the methods employed by identity thieves. The Better Business Bureau (BBB) has issued a warning to consumers regarding the increasing risks associated with identity theft, exacerbated by advancements in artificial intelligence, the dark web, and a surge in data breaches. Identity theft manifests in various forms; however, the most common scenario involves scammers obtaining personal information, such as Social Security numbers, to impersonate individuals for illicit financial gain. With the proliferation of AI capabilities and access to the dark web, an alarming number of individuals are falling prey to these schemes.
The magnitude of the identity theft issue is considerable. According to the FBI’s Internet Crime Complaint Center, U.S. consumers experienced losses exceeding $125 million to identity theft in 2023. Furthermore, data from the Federal Trade Commission (FTC) for 2024 indicates that there were over 840,000 reports of identity fraud across the United States. Michele Mason, the President and CEO of the Chattanooga Better Business Bureau, noted a discernible uptick in data breach incidents.
Mason emphasized the perils of the dark web, highlighting the myriad of sites where stolen information circulates. She remarked, “We want people to understand that there are numerous platforms on the dark web where personal data may be traded.” Even seemingly innocuous details can lead to serious repercussions for victims. Mason elaborated that fraudsters often acquire Social Security numbers, using them to establish credit card accounts, with victims unaware until they receive a bill. The exploitation of bank account information by initiating rental agreements or setting up services in someone else’s name further exemplifies the broad scope of identity theft.
Scammers continue to exploit stolen information to establish subscription services, and if these are not reported within a 60-day window, victims may be left responsible for charges that were not incurred. The threat of identity theft is persistent, even in the aftermath of a data breach. The BBB has reported that scammers sustain their operations by trading illicitly obtained information across various web platforms, including the surface web, deep web, and dark web, with guidance on committing fraud readily available. The BBB undertook an analysis of numerous active sites to assess how stolen data is disseminated and sold.
To combat these increasing risks, Mason advocated for a two-pronged strategy to safeguard personal information. First, individuals must protect their data by being cautious about sharing it with unknown sources. Second, active monitoring of personal data becomes crucial, especially for those who suspect their information may have been compromised during a breach.
Experts advise consumers to regularly scrutinize their credit reports for unfamiliar entries, utilize multi-factor authentication where feasible, and create strong, distinct passwords that are changed frequently. It is also essential to avoid disclosing personal information to unreliable sources and to secure both home and mobile internet connections. Vigilance against warning signs, such as dubious domain names or unsolicited communications, is necessary for protecting personal data.
Moreover, consumers are encouraged to stay updated by visiting the BBB Scam Studies homepage and employing tools such as credit freezes or fraud alerts as needed. Scanning the dark web for compromised information can also provide added security. Individuals can check their credit through AnnualCreditReport.com and search the BBB Scam Tracker for the latest alerts and reviews.
Ultimately, Mason stressed the importance of proactive measures in safeguarding personal information. “The more vigilant you are in monitoring your personal data, the more secure you will be against scammers,” she stated. Individuals suspecting identity theft can report incidents to the Better Business Bureau Scam Tracker, the Federal Trade Commission at 877-FTC-HELP, or reach out to the FBI at (202) 324-3000.
In summary, identity theft remains a severe and evolving threat that requires vigilant and informed responses. Business owners and consumers alike must adopt comprehensive data protection measures and remain aware of the tactics employed by perpetrators to effectively mitigate their risk.
