Identity theft is pervasive, and statistics show that it is a growing issue. Deadlock between financial institutions and government agencies about what to do to reduce the problem has resulted in the burden of identity theft prevention falling on consumers.
In an age of smartphones, social networking, and pre-screened credit offers by the dozen, this has proved difficult.
Consumers should educate themselves about identity theft, the risks, and the surprising ways that criminals obtain their personal information so that they can reduce the risk. These ten shocking facts about identity theft should provide motivation:
1 – In 2010, 7% of households in the U.S., about 8.6 million households, had at least one member over the age of twelve who experienced some type of identity theft. – The U.S. Department of Justice, Bureau of Justice Statistics
This indicates that one in ten American families were victims of identity theft over the course of one year. If one in ten families are affected by identity theft, we all know someone who has been a victim, and as the incidence of this crime increases the chances are greater that the next victim will be someone we know quite well. [Read more…]