The Digital Identity Crisis Hasn’t Gone Away

By  //  May 5, 2022

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If you thought that online spaces were starting to become safe again from hackers and identity thieves, you would be wrong. We always hear about how major companies are doing everything they can to protect our data and how our online identities and personal information are being encrypted and safeguarded, but how safe are we really?

The numbers for the Digital Identity Solutions market says it all.

Identity Protection Market Report

A new report on personal data protection globally shows that the market is expected to reach $40,350 million in a few years. Estimates place those figures for 2028, and it’s currently at $18,210 million for 2022.

The numbers for this year are already considerable, so it’s shocking to see how much growth is expected to happen in this market over the next six years. These numbers alone indicate that we are currently in a digital identity theft crisis, as this is the very market that is expected to protect our digital identities. 

A Trend for the Future

The other thing these figures reveal is that the problem with data and identity theft is not expected to go away. In fact, it is assumed to be getting worse. There are now more people than ever putting their personal information online in more places. That would mean more opportunities for thieves to steal that information and use it for their nefarious purposes. 

There are entire hacking groups that work together to take down major websites and companies, knocking out their sites and services temporarily through attacks like doxing. Sometimes, these attacks can provide the hackers with personal information from many of the people who use the site or business as customers. 

You could be enjoying the latest app from the iPhone store or playing สล็อตแตกง่าย somewhere on the internet when your banking account or profile information is stolen. You may or may not notice when this happens. You might not even know when the funds are taken out of your account unless you are paying close attention.

Your money could be used by someone else without your knowledge, and you might not even be aware of which site allowed your information to become compromised. Some websites and companies keep these kinds of things hushed up so that it doesn’t spoil their reputation. 

Do you remember the Sony PlayStation hack some years back? Thousands of gamers’ personal data was stolen, including payment information, and Sony didn’t even let its customer know until well after the fact. By that point, a lot of damage had been done, and it was like egg on Sony’s face, but it was just as bad for many of the customers who had their personal data used illegally. 

What Are You Doing to Protect Yourself?

Whether you run a company with an online presence or you simply shop or hang out on social media online, your data is at risk. Your personal banking information, address, and other sensitive details could be accessible for others to see, if you are not personally doing something to protect yourself. We have all heard about high profile celebrities being hacked, having their personal pictures leaked all over the internet. You may not think you are a target for hackers, but sometimes they will just use whatever they can get their hands on.

Data protection companies are doing what they can to stay on top of these issues, but they cannot keep up with technology, and hackers are often one or two steps ahead of them. Many data protection methods are reactive, designed to help you get your data back after it has been stolen.

That’s all it can be, in many cases, because of how quickly technology changes. The data protection companies work with what they know, but they cannot predict what new exploits will be found in the future for social media platforms and gaming websites that people use regularly.

If you want to protect yourself from identity thieves, then you need to use strong passwords, don’t give out your personal details unless absolutely necessary, and use powerful data protection services.