We’re all familiar with the stats: Last year’s Equifax breach left upwards of 145 million people’s personal identity information (PII) in the hands of fraudsters. Since 2005, more than 816 million individuals’ records were stolen in more than 4,500 reported breaches. In 2018 alone, major companies like Whole Foods, Kmart, and Under Armour have already experienced breaches, exposing hundreds of millions of customers’ personal data. Data breaches are so common now that it’s safe to assume that no one’s information is private and that we’ve all been hacked. As a result, it’s on us to think carefully about how fraudsters are actually using the PII they steal. And in order to best protect businesses and consumers, it’s on us to reconsider the traditional approaches to identity verification —which clearly aren’t working.