Personal Data Can Prevent Fraud – Here’s How.

Millions of Californians now have more rights than ever before when it comes to their personal online data. That includes the right to find out what’s been collected and ensure it is not sold. That new legislation is called California Consumer Privacy Act (CCPA) and many other states are following suit.

Most consumers think that hiding their data will protect them from fraud, but in many cases, the opposite might actually be true. If banks, merchants and lenders cannot locate you, or cannot identify you from a fraudster, this can result in more fraud risk rather than less.

Here is an interesting video that explains how personal data is being used to fight fraud. Eliminating personal data can potentially hurt consumers against fraud if not managed carefully.

Watch this video for a perspective on how consumers personal data is used to fight fraud.

Frank McKenna is the Chief Fraud Strategist for PointPredictive and a Fraud Consultant based in San Diego California