According to the Federal Trade Commission (FTC), there are more than 650,000 registered complaints on identity theft and fraud in the U.S. It grew at a very fast pace, having victimized an approximated 10 million individuals each year. That staggering amount means that for every minute, there are 19 people who become identity theft victims. In fact, on the year 2006, more than 70 million identities went missing due to improper handling of personal information by corporations and as a result over $1 billion was lost. Over the years, it has grown so fast that it is now competing against drug trafficking as the number one crime.
Statistics say that only 28% of identity theft incidents involve financial fraud, that is quite a number. However, if you combine the 19% from phone and utilities fraud, 18% from bank fraud, 13% from employment fraud, 8% from government and benefits fraud, 6% from loan fraud and 22% from others like insurance fraud they would weigh more than financial fraud. That means, you have to be on-guard against other means of identity theft not just financial fraud.
I know these facts about identity theft sound unbelievable but they are TRUE!
So, now that you are well-acquainted with the magnitude of this crime and how far-reaching it can be. Then, you must want to know some tips on how you can safeguard your identity.
Use Internet Safely
Never send any personal information, especially personal identification numbers by email. If you must shop online, choose web pages which have an image of a lock at the bottom of its page or have “https” in the address bar, these are secure ones. Also, never forget to keep your anti-virus software updated and to delete spam mails asking for your personal information.
Discard Private Records Properly
Discard documents that contain financial information that should be kept in private. You must shred them, you would be alarmed at how much getting hold of these statements can help thieves steal your identity.
Protect Your Social Security Number
Getting your social security number is the best personal information a thief could acquire from you. Just by those numbers alone they can access almost everything of yours especially your credit and bank accounts. You should memorize your number instead of carrying it with you, keep your card in a safe place and never write your number on checks.
Monitor Your Credit Accounts
You should monitor your credit accounts on a regular basis, this can help you in detecting identity theft early.
Keep these tips in mind and you’ll reduce your chances of becoming a victim of identity theft.