Identity Theft Protection Services
Identity Theft
According to many reliable sources, there is no real consensus on how many Americans will be affected by Identity Theft this year. The Federal Trade Commission reported in 2005 approximately 8.3 Million U.S. adults were victim of some form of identity theft. The reality is that Identity Theft is a growing problem. As more and more data is transferred electronically, it is exponentially difficult to measure. A new form of Identity Theft called Synthetic Identity Theft occurs when an imposter combines some personal information with invented information, thus making them much more difficult to detect..
How Does It Happen?
The theft occurs when an imposter obtains key pieces of personally identifiable information on you. This could include your driver’s license or social security number which they in-turn use for their own personal gain. The source of the theft can originate in many different places, including the mail box, computer viruses, lost or stolen wallets/purses, data breaches, and phishing scams. The thief in-turn uses the information in credit card fraud, check fraud, financial and government theft resulting in identity fraud...
Service Providers
Visit our service providers to inexpensively protect your identity and more importantly your INTEGRITY!!
Cost To Consumers
The Federal Trade Commission reported that in 2005 10% of victims reported losses totaling $6,000 or more! Unfortunately, 5% of the 8.3 Million reported financial losses of $13,000 or more. The sad commentary of identity theft is the real cost to consumers. The majority of victims reported no out-of pocket expenses. 10% of victims reported out-of-pocket expenses of $1200 or more. 10% of victims reported out-of-pocket expenses of $3,000. 5% of victims reported out-of-pocket expenses of $5,000.
The largest expense to the consumer victim is the amount of time they will spend clearing their reputation. It is reported by the Federal Trade Commission that consumers will spend over 100 hours cleaning up the Identity Thieves mess. As you can see, obtaining Identity Theft Protection services is an easy way to avoid some potentially costly expenditure.