Despite the ever-rising number of identity theft incidents, many people still don’t understand what it is or how it works.
Identity theft occurs when a thief gains access to personal information such as Social Security numbers and dates of birth. Thieves will take that information and use it to obtain credit cards, get jobs, and apply for payday and mortgage loans. They will even commit crimes using the stolen information, so that the victim is violated twice.
The incidents of identity theft are on the rise, and there are some statistics that you should pay attention to. Up to 10 million Americans fall victim to incidents of identity theft with 12 percent of victims being arrested for crimes committed using their identities. One-third of victims have reported fraud involving checking accounts or stolen debit cards. Sixty-six percent of victims have to open new credit card accounts. Twenty-eight percent of victims’ identities were used to secure a cell phone.
In some cases, the person committing the theft is known by the victim. In fact, 43 percent of victims know who took their information. Other incidents include 14 to 25 percent of victims who think the thief works at a business they have frequented. And a growing percentage involves parents stealing the identities of their own children.
The time it takes for some victims to clear up the mess caused by identity theft can range from a few hours to hundreds of hours. Up to 32 percent of victims spend four to six months trying to resolve their cases. The average victim can lose over $14,000 in wages because of days away from work spent trying to straighten out their financial situations.
But you can protect yourself. LifeLock offers proactive services that will monitor and detect any fraudulent activity, and you will be notified immediately. Call LifeLock today – you can’t afford not to.
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