Our Santa wishlist: Stronger identity security for kids
Sorry for the headline, but we have to get creative to get anyone to read an article on a Friday like this one, even if it is an important story.
As we enter the holidays and parents begin to rest after another hectic year of shopping for their kids, Malwarebytes Labs wants to draw some attention to a part of most children’s lives that deeply affects their online security: The education system.
Although children in the US can’t take out loans or get credit cards on their own, they can end up as victims of identity theft, which can end up being a lifelong burden in the form of bad credit ratings and even criminal records.
An old study by Experian estimated that 25 percent of children will be victims of identity fraud or theft by the time they are 18 years old. In the current system it’s even possible that a newborn gets assigned a Social Security Number (SSN) which has already been used by a criminal.
The Social Security Administration (SSA) has already assigned more than half of all available SSNs and because there is no check before the number gets issued, a baby could end up getting one with a bad history.
But usually, it happens later on. According to Javelin’s 2022 Child Identity Fraud Study, approximately 1.7 million US children had their personal information exposed and potentially compromised due to data breaches in 2021.
Many of the leaked information about children comes, unsurprisingly, from the educational institutions that they visit.
Even though the Taxpayer First Act of 2019 mandates that the IRS notify taxpayers, including parents and guardians, when there is suspected identity theft, it has been criticized for not complying with this obligation.
So, parents and guardians need to be vigilant themselves.
How to keep an eye on your children’s identities
There are a few things you can do.
Contact the three major credit bureaus (Equifax, Experian, and TransUnion) to check if your child has a credit report. Generally, children under 18 should not have a credit report. If a report exists, it may indicate identity theft. If a credit report is found, inform the credit bureau it may be fraudulent. You may need to provide documents to credit bureaus to verify your child’s identity and your own.
If your child is under 16, you can request a free credit freeze to prevent new accounts from being opened in their name. This freeze remains in place until you request it to be removed. The process for getting a freeze for a minor is different than getting one for an adult. The credit bureaus give specific instructions at these three sites: Experian, Equifax, and TransUnion.
Limit who you share your child’s Social Security number with and only provide it when absolutely necessary. Don’t be afraid to ask why the information is needed and how it will be protected.
If you suspect your child’s identity has been stolen, report it to the Federal Trade Commission (FTC) at IdentityTheft.gov. Also, contact your local law enforcement to get a police report and notify the fraud departments of companies where fraudulent accounts were opened in your child’s name.
Check your digital footprint
If you want to find out what personal data of yours has been exposed online, you can use our free Digital Footprint scan. Fill in the email address you’re curious about (it’s best to submit the one you most frequently use) and we’ll send you a free report.
Wiz to Acquire Gem Security for $350M to Address Cloud Security
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Wiz, a leading cloud security company, has announced its acquisition of Gem Security for $350 million.
This acquisition marks a significant milestone in Wiz’s journey, which began just four years ago when its founders left Microsoft with a vision to reinvent cloud security.
Wiz’s story is one of rapid growth and innovation.
Since its inception, the company has been on a mission to revolutionize risk reduction in the cloud.
Wiz’s approach to cloud security has resonated with the industry, setting new standards for security and development teams across the Fortune 100 and burgeoning cloud-native companies.
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The acquisition of Gem Security is a testament to Wiz’s commitment to expanding its cloud security solutions.
Gem Security’s expertise in Cloud Detection and Response (CDR) is poised to complement Wiz’s existing offerings, addressing the next wave of security challenges faced by organizations.
Gem Security brings to the table an unmatched understanding of cloud threats.
Their team’s proficiency in CDR will be instrumental in Wiz’s efforts to reinvent Security Operations (SecOps) for the cloud era.
Cloud security presents unique challenges, including tool sprawl, silos, and visibility gaps.
Wiz’s acquisition of Gem Security is a strategic response to these issues, aiming to simplify and reduce security tools and processes.
With the integration of Gem Security’s CDR capabilities, Wiz is set to redefine the landscape of cloud security operations.
The combined strengths of the two companies will enable security organizations to establish a robust security posture and more effectively detect and respond to threats in the cloud.
The acquisition signals a new era for SecOps, as organizations seek to build securely by design in the cloud.
Wiz’s expanded portfolio will now address the full spectrum of cloud security needs, from prevention and security posture management to detection and response.
Industry Reactions
The response from customers and industry experts has been overwhelmingly positive.
The integration of CNAPP with Gem Security’s CDR expertise is seen as a natural progression for Wiz, as it continues to push the boundaries of innovation and simplify complex security challenges at speed.
As Wiz integrates Gem Security’s team and technology, the cloud security industry watches with anticipation.
This acquisition is not just about growth. It’s about shaping the future of cloud security and enabling organizations to navigate the ever-evolving threat landscape confidently.
Wiz’s journey, marked by milestones and a relentless pursuit of innovation, continues to unfold.
With the acquisition of Gem Security, Wiz is well-positioned to lead the charge in securing the cloud for organizations around the world.
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Cobalt’s fifth edition of “The State of Penetration Testing Report” taps into data from 3,100 pen tests and more than 1,000 responses from security practitioners.