Publications

Each high-profile data breach scatters credentials that fraudsters recycle for years. Understanding those events—and how firms responded—helps compliance officers tighten controls before the next leak lands. Fast fact: Identity-theft reports topped 552 000 in H1 2024 alone, already outpacing 2023’s $23 billion loss tally. The Four Breaches That Redefined Risk Equifax, 2017 — the day 147 million credit files left the vault A single unpatched Apache Struts server let intruders lift Social Security numbers, birth dates, and driver-license details for more than half of U.S. adults. Five years later the company agreed to a record-setting settlement of up to $700 million, including $425 million for consumer remediation, plus a long list of security upgrades regulators can audit at will. The breach accelerated the rise of vendor-risk scoring on onboarding questionnaires, plus the “credit freeze” as a consumer self-help tool. For onboarding teams it’s still a poster-child example of third-party patching as part of vendor due diligence. Facebook, 2021 — scraping at continental scale Attackers stitched together open APIs and web-crawlers to compile a dataset covering 533 million users across 106 countries—phone numbers, birth dates, e-mails, even location tags. Meta called it “old data,” yet Ireland’s Data Protection Commission disagreed, handing the firm a €265 million GDPR fine in November 2022 for failing to prevent automated harvesting. The scrape showed that public profile data can be weaponised just as easily as stolen databases—and that phone numbers are no longer low-risk identifiers. If your KYC flow leans on social-media attestations, cross-weight them with profile age and posting cadence. LinkedIn, 2021 — the professional network becomes a phishing kit At least 700 million member profiles, including names, e-mails, job titles and geolocation data, were scraped and advertised on a dark-web forum for around US $5,000. LinkedIn claimed “no private data was breached,” but investigators have since concluded that even scraped public résumé data arms fraudsters with the detail they need to create “workplace lookalikes” for BEC and spear-phishing campaigns. Since that scrape, several B2B payment platforms have tightened background checks for new merchants and freelancers, often adding cross-platform OSINT sweeps. Get the methodology in our guide on using OSINT for fraud prevention. Optus, 2022 — passports and licences on the auction block A misconfigured API at Australia’s second-largest telco exposed personal data on up to 10 million current and former subscribers; 2.1 million had passport or driver-licence numbers stolen. A ransom demand for A$1.5 million briefly appeared, then vanished, but not before the dataset circulated. Lesson learned: Optus has set aside US$140 million to cover document replacement and remediation costs and a class action lawsuit is pending. Canberra in turn has fast-tracked a set of ID-document reissue rules and added breach-response authority for telcos and other critical infrastructure providers. Takeaway: national ID numbers can be revoked, and you need controls that recognize when a “fresh” ID number is simply a reissued version. Our provider leaderboard flags which vendors now check for recycled credentials. Patterns Every Analyst Should Clock Data permanence beats data volume. Once millions of IDs leak, they never truly disappear. Scraping is cheap, quiet, and legal-looking. Three of the four cases above required no malware—just lax API controls. Regulators arrive late but land hard. Equifax’s $700 m settlement changed nothing for the SMEs later hit by credential-stuffing attacks. For a hands-on approach to open-source checks, see our guide on how to use OSINT for fraud prevention. Control Upgrades for the “Real-ID” Era Control LayerWhy Legacy Checks FailUpdated ApproachDocument validationLeaked passports pass basic OCR.Add liveness selfie + device-integrity score; cross-check doc numbers against breach feeds.Device bindingSIM-swap kits bypass SMS OTP.Shift high-risk flows to passkeys (FIDO2).Transaction monitoringVolume-only rules miss velocity.Pair velocity with “new payee” heuristics and behavioural biometrics. Our Top AML Software Providers comparison shows which tools support this blend. Rethink Re-Verification Cadence Annual refresh cycles create a 1-year window for exploitation of newly leaked data. Move high-risk users into quarterly “light-touch” checks—device fingerprints, behavioural deltas—without forcing them to rescan an ID document. Explore vendor options in our Sumsub review and Onfido review. Social-Media Attestations: Handle with Care Facebook’s repeated crises prove that profile-based trust signals are fragile. Weight social data by profile age, posting cadence and cross-platform overlap rather than accepting a single OAuth token. Build a Living Breach-Watch Memo Auditors increasingly ask, “How did you react to Breach X?” Maintain a log that records: Date breach confirmed Estimated overlap with your user base Immediate control tweaks Long-term policy changes Regulatory Lens to Monitor The EU AI Act places biometric remote ID in a high-risk category. Expect draft technical-standard guidance by early 2026. Teams that can link their biometric choices to specific breach-driven threat models will field fewer regulator follow-ups. Key Takeaways Mass breaches create a permanent data lake for fraudsters—controls must adapt accordingly. Scraping, not hacking, now drives many credential leaks; API hygiene is a compliance issue. Faster pattern recognition and verifiable audit trails trump higher walls. Stay ahead by pairing breach intelligence with flexible KYC/AML tooling—our provider leaderboard is a good place to start.

Publications

Biggest Identity Theft Cases of the Last Decade

NFC-Enabled Passports: What Compliance Teams Need to Know

How to Use OSINT for Fraud Prevention: Beverified Playbook

KYC Automation for Banks : From Regulatory Pressure to Competitive Advantage

How to Conduct OFAC Screening: Step-by-Step Guide

SDN vs SSI vs FSE Lists

OFAC Sanctions Lists: What Banks Need to Know in 2025

Shufti Pro

Regula

Sumsub

KYCAID

Jumio