Edward Rostohar was arrested after his wife informed authorities he stole from CBS Employees Federal Credit Union and was preparing to flee the country.
SSNs are used to verify identity across the financial services industry, but use of the numbers is outdated and leaves consumers vulnerable to data breaches.
A startup called Spring Labs has launched a blockchain network with the goal of getting lenders and data providers to share data to help verify customers' identity.
Foreign operatives' alleged use of fraudulent financial accounts to try to influence the U.S. political system shows again how difficult it is for banks to truly know their customers.
The identity theft threat created by the Equifax hack and the growth of online lending have given software makers a platform to pitch products that rely on selfies, scans of driver’s licenses and other nontraditional ID methods.
