Identity Theft on the Rise, Says BBB: What You Need to Know
Summary: "Everybody Is at Risk," BBB Warns as Identity Theft Surges in 2025
In an alarming update, the Better Business Bureau (BBB) is sounding the alarm on a steep rise in identity theft cases across the U.S. According to the report, identity theft has become one of the top threats facing consumers and businesses alike in 2025.
👤 How the Fraudsters Operated:
The article highlights that identity thieves are increasingly using both traditional and synthetic identity theft methods to open fraudulent accounts, file false tax returns, and secure loans using fake or stolen credentials. Often, this happens without the victim’s knowledge until financial damage has already occurred.
🚩 What Red Flags Were Missed:
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Consumers are often unaware of data breaches that expose their information.
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Lenders and service providers frequently skip robust identity verification steps, relying on basic data that can be easily faked or purchased on the dark web.
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Delays in credit monitoring or detection give fraudsters a head start.
💸 Who Paid the Price:
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Victims face destroyed credit, drained bank accounts, and months (or years) of recovery.
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Businesses and lenders eat the losses when fraudulent accounts go unpaid.
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Insurers and law enforcement struggle to keep up with new synthetic identity tactics.
🛡️ What Could Have Stopped It:
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Proactive identity verification tools that confirm a consumer’s identity before any financial step is taken.
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Consumer awareness and credit monitoring.
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Cross-industry collaboration between law enforcement, lenders, and identity protection services.
🔍 VeriQual Insight:
At VeriQual™, we believe the best defense against identity theft is prevention at the point of application. Our patent-pending system confirms the identity and creditworthiness of a customer using just their mobile phone number—before a credit pull even happens. It’s a critical first line of defense for auto dealers, lenders, and anyone offering financing in today’s high-risk environment.
As the BBB states, “everybody is at risk”—but not everybody has to be a victim.