A new BankRate.com report shows nearly half of Americans have been the victim of identity theft or know someone targeted.
Online security expert Phillip Ferraro say hackers are finding new ways to steal your data. In 2014, there were over $10 billion in fraudulent charges involving identity thefts across the nation.
However, new technology is being developed to keep your private information safe from hackers.
New credit card chip technology makes it harder for hackers to steal private information, but firms like HYPR Biometrics have taken securing your identity a step further.
“Tokenizing the card is one thing, but combining that with your fingerprint is the next step,” said George Avetisov, HYPR Biometrics.
Aside from using a fingerprint, the company is working on using facial recognition technology and retina scanning. It’s a level of protection that shoppers could one day use while buying stuff.
“That’s really the cool thing — we’re able to combine your credit card data with your biometric identity — so thieves can’t use your stuff as you,” Avetisov said. For the full article click here
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