19,178 Identity Theft Victims Per Day - Are You One Of Them?

Identity theft statistics are shocking. And we are told that it will only become worse, before it gets any better. Are you likely to be affected?

According to recent studies, up to 7,000,000 people become identity theft victims each year, in the United States alone. That's over 19,000 cases a day, or 799 cases an hour. Whichever way you look at it, these are shocking figures. And with more and more people using the Internet, online banking, and other hi-tech services, things aren't likely to improve any time soon.

In fact, another research, a survey conducted on behalf of the Federal Trade Commission recently, tells us that the situation is even worse. According to the FTC survey report, 4.6% of the US population were identity fraud victims last year - that's 10 million people.

According to the FTC figures, if someone fraudulently opens a new credit card or another loan account under your name, on average you can expect the dollar amount to go to about $10,200. That's just an average amount.

To clean up your name, and your credit rating, you will need to deal with this experience. You can expect to spend between $500 and $1,200 of your own hard-earned money cleaning up the mess. You can also expect to invest between 30 and 60 hours of your time.

The above figures are just cold statistics. They say nothing about the emotional trauma, through which you are likely to go when it happens to you. It's all very well to read and hear about bad things that happen to other people. It is quite different when the same thing happens to you, or your loved one.

Is there anything you can do in order to protect yourself? There is. Quite a bit actually. It's all based on common sense and, while there are no guarantees in life, you will minimise the risk and make the life of an identity thief a lot harder.

Funny thing about thieves. They don't like working hard. If you make it hard enough for them, they will usually go away - to find an easier target.

One of the common-sense things you can do in order to protect yourself, and your family, is to make yourself aware of the current scams that may affect you.

The most infamous one at the moment is so a called 'phishing' scam. In a nutshell it looks like this:

You get an email that looks like it was sent from your bank. They ask you to log in to your online account and verify some of your details. For your convenience, there is a link included right in the email. All you have to do is click on it an log in. Don't ever!

The moment you click on that link and log in, the scam artists have your login ID and password recorded. This will enable them to log in to your account and within hours, or days, your account will be cleaned out!.

There are two common-sense approaches to deal with this.

First, you have to realise that your bank already has all the details they need to operate your online account. If they didn't, you wouldn't be able to open it in the first place. So, you can most likely quite safely delete the email and forget about it.

Secondly, if you have any doubts as to the authenticity of the email, you can get the bank's phone number from your local phone book and give them a call. Tell them about the email you received and ask if they tried to contact you. I bet they are going to be as surprised as you are.

And just remember: Whatever you do, never, ever, log in to your bank account, or any other sensitive account for that matter, right from an email. You already have the login link somewhere in your records. If not, go to the bank's main page and look for an online login page.

What we covered today is just one of the things you need to do in order to protect yourself from identity fraud. There are many more. Lack of space doesn't allow me to cover more in this short article. You will find many more tips at http://www.credit-report-a-z.com/articles.html . They are free to implement and could save you lots of time and money.

Andrew Obremski is the owner of www.credit-report-a-z.com, a web site devoted to information about credit reports, identity theft, debt, and other personal finance topics.

Webmasters: Author's permission is granted to reprint this article, provided that:

1. The whole article, including the bio info above, is reprinted intact.

2. All links are live and in pure HTML (no Javascript or redirection allowed).

In The News:


pen paper and inkwell


cat break through


Which Citi Mastercard Is Right For You?

You've decided to apply for a Citi MasterCard, but with... Read More

Have You Checked Your Permanent Record Lately?

As a young student I feared getting bad grades because... Read More

Save Money and Lower your Payments by Improving or Repairing Your Credit

Having a better credit score not only represents easier access... Read More

How To Read Your Credit Report

The Fair and Accurate Credit Transactions Act, signed into law... Read More

How To Save Money On Credit Cards

Some credit cards offer a cash advance option. But how... Read More

Identity Theft - Dont Think You Are Immune

As identity theft becomes more prevalent, the need to regularly... Read More

Some Truth About Credit

Credit is currently and has been historically an integral component... Read More

Practical Suggestions for Protecting Yourself From Identity Theft

It's no surprise that thousands of Americans are victimized by... Read More

Credit Cards -- What You Should Know

There are a lot of questions about using credit cards.... Read More

Ethical Finance: Who Benefits From Our Spending?

On one hand consumers are being universally criticised for running... Read More

Credit Card Shocker

Have you ever looked at your credit card statement? I'm... Read More

Credit Card Benefits and Drawbacks

Credit cards have both benefits and drawbacks. It is wise... Read More

Ways to Look Good without Selling Your Soul to the Credit Card Sharks

1. Buy clothes at thrift stores. BEFORE you buy them,... Read More

Beware the Shopping Mall Monster

Like me, you've probably been offered a fair old number... Read More

Clean Credit Report: Easily Raise Your Credit Score 100 points

Clean Credit Reports, your credit report contains information about where... Read More

Low Interest Credit Cards: A Thing of the Past?

With interest rates rising, low or zero percent credit cards... Read More

Restore Your Credit Rating And Reduce Your Debts

Your credit rating affects many areas of your life. Opening... Read More

Credit Report Disaster Through Mistaken Identity

I've got some very important info I want you to... Read More

How Your Credit Rating Affects You, and How to Check It

You might not know it, but every time you take... Read More

Tips For Getting Your First Credit Card

Most of us get a credit card on our name... Read More

Compare Credit Card Offers and Reward Yourself

Here's a simple system on how to pay zero interest... Read More

Comprehending a Credit Report

Obtaining a credit report is an excellent way to begin... Read More

A Summary of the Fair Credit Reporting Act

This summary of the Fair Credit Reporting Act will explain... Read More

How Credit Scoring Works

The all important credit score! It determines the amount of... Read More

Credit Card Debt: One Way To Avoid It

One of the biggest problems people have in these modern... Read More

Credit cards

If gold medals were awarded for marketing consistency, the credit... Read More

Discover the Parts of a Credit Report and What They Mean

So you ordered a copy of your credit report to... Read More

Credit Enhancements: Seven Tips For Enhancing Business Credit Transactions

What are the avenues available to businesses with weak credit... Read More

Stop Struggling Because Of Poor Credit And Improve Credit Rating Now

Did you apply for a personal loan only to be... Read More

Choosing the Best Low Interest Credit Card

With so many low interest credit cards on offer, how... Read More

How to Evaluate and Raise Your Credit Score

Why do some people get offers for pre-approved credit cards... Read More

The Next Person With Credit Problems Got Their First Credit Card Today!

One of the focus areas of my information is the... Read More

Credit Cards, Merchant Accounts, and Your Bottomline

Q: I'm opening a gift shop and want to be... Read More