Who Buys Identity Theft Protection?
Each day millions of Americans share their personal information with other people, sometimes by choice and sometimes without knowing it. According the FBI and the Federal Trade Commission, identity theft is consistently at the top of its list of criminal cases and has become one of the fastest growing crimes in the United States. As a result, identity theft protection has become a business in and of itself and can increasingly be beneficial for a variety of people.
Other People Are Reading
-
Identity Theft
-
The Federal Trade Commission reports that 9.9 million people are victims of identity fraud each year. Identity theft occurs when someone's identity and or personal information is stolen by another for the purposes of fraud and financial gain. Identity theft has become so widespread that the FBI as well as many local community police have created special task forces to address the issue. Identity theft victims are a diverse group and can include anyone whose information is accessible to others.
Methods
-
There are many methods that thieves employ to get a hold of your personal information. Some of the more common methods include email scams, either falsely offering lottery winnings or a fake inheritance from someone abroad, and fake online job offers. All of theses schemes are designed to get people to submit personal information like Social Security numbers, bank account numbers, credit card numbers or other sensitive information that can easily be misused. Trash cans are also a popular means for thieves to access your personal information.
-
Victims
-
Almost anyone can become a victim of identity theft, especially since scams have become more elaborate and widespread. According to the credit and information management company TransUnion, the average identity theft victim spends approximately 30 hours to resolve each identity theft crime. That means if someone steals your credit card and makes five illegal charges to it, it could take you almost a week to resolve the matter. Even after the financial ramifications are resolved, there is often a long-term emotional toll for the victims of identity theft. Unfortunately, identity theft techniques are advancing faster than police efforts, and thieves often get away with their crimes.
Security
-
Identity theft protection is useful for anyone who wants to protect their personal information and finances. Many services offer credit protection, internet and credit monitoring, credit freezing as well as general identity theft protection, often at a reasonable price. While identity theft protection can be an invaluable service, consumers should also be vigilant about protecting their information by checking accounts regularly, signing up for automatic alerts, and shredding any sensitive documents before disposing of them. There are various educational resources about identity theft and services available online.
-
References
- Photo Credit Jupiterimages/Photos.com/Getty Images
