One of the hottest topics in the industry is on identity theft and the high-tech community is working too hard to safeguard the entire world. While some of the things that they’re offering us are just modifications of items which we were already acquainted with like RFID chips, virtual credit cards and utilizing your smartphone as a weapon to fight against the identity thieves. Others technologies like biometrics and iWallet are being commonly used and henceforth they might become an entire industry.
If you take a close look at it, the wedding of technology with the identity theft protection industry is definitely going to be extremely profitable. While there are so many companies which offer EMV card readers to put a stop to identity thieves and their activities, here are few technologies that you should know of.
Biometrics
All of us have a unique fingerprint. In fact, the fingerprint on someone’s hand is not same with anyone else as it varies from person to person. Law enforcement is using this unique fact for a long time now and fingerprint has become a vital symbol. Nowadays, fingerprint is considered as a method of identification which proves who you are. There are other biological identifiers like facial structure and speech patterns which are also used. Hence, biometrics is widely used to protect people from identity theft.
RFID
RFID and Radio Frequency Identification have been here for the last few decades and mostly it is used by retailers so that they could put a stop to shoplifting. However, the DHS or the Department of Homeland Security thinks this will be a wise step to include an RFID chip into the driving license of people. However identity thieves have proven that it is vital to steal your identity via an RFID reader and the machine that they use is not too costly.
Virtual Cards
The idea which identity theft is regarding credit and this has brought about several changes in the credit card industry. V- card or virtual credit card is one of the most promising opportunities. This is more like a sophisticated computer program which can be used by the bank or the credit card company. You may hold on to this virtual card till it expires and you can even delete it in case you suspect that it has been tampered.
Mix and match
Credit card processing has become a necessity for the businesses and hence they are all trying their best to protect people against identity theft. For instance iWallet includes bluetooth and biometrics technology to keep away identity thieves and send you alerts when someone tries to steal it.
Therefore if you’re wondering about the ways in which technology has joined hands with the identity theft protection industry, you should take into account the above mentioned tech advancements. However, don’t think that you won’t ever become a victim of identity theft just because you are using the latest tech products and innovations.