Security company ID Analytics has uncovered 10,000 identity fraud rings in the U.S. The company found the rings after studying 1.7 billion credit card and cell phone account applications and finding similar names, addresses and email addresses. ID Analytics provides the engine behind the LifeLock data protection service for consumers and was recently bought by LifeLock.
The surprising aspect of the analysis is the fact that most fraud rings operate from rural areas and they appear to be groups of families. People with good credit standing beware: Your ‘friendly rural neighbor’ may be ‘borrowing’ your identity.
Source: ID Analytics Press Release