German Data Theft Confirms Need for International Identity Verification

This week, WirtschaftsWoche a weekly economic publication in Germany revealed how identity thieves in Germany have been hawking the details of 21 million people. The thieves were looking for 12million Euro for 21 million names, addresses, phone numbers and even bank account numbers.

The data was being touted for sale at a cost of EUR 0.55 per record, with thieves even handing over a CD containing a sample of 1.2 million accounts to prove their story. Reporters from the publication met with two individuals in Hamburg before handing over the disc to the relevant authorities. It is believed that the data was stolen from a call centre, although this hasn’t at the time of writing been confirmed.

Although there have been other stories of mass data theft and loss this year, most of the data compromised has not included bank account details. The theft means that 1 in 4 German householders are now at risk of identity theft, and for UK retailers and ecommerce operators re-enforces the need to carry out international identity verification on customers.

For more information on how international identity verification can help you protect your business from identity fraud, please contact us.