MyFinanceGurus

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Much of the deterioration of PII as a reliable security tool to combat fraud has come from thieves retrieving personal information from the Internet. The emergence of popular online social networking sites such as Facebook have become treasure troves of personal information used by criminals to defraud a bank. For example, by collecting somebody’s personal information such as their birthday, address, background, family history, and even the sound of their recorded voice on a video blog. Today, a savvy criminal can easily put together an individual profile that could potentially be used to impersonate someone over the telephone to gain access to their legitimate bank account.