Identity Theft Statistics Reveal The Extent Of ItIdentity theft or ID theft is one of those process where the thief not only steals your money but your very identity. The thief here steals your personal information like social security number, credit card number and debit card number. With the development in technology this sort of crime is increasing day by day especially due to the spread of Internet has increased the chances of identity theft. The identity thieves are very clever and they use their victims' personal information in various ways, to serve their needs. They are aware that it is very easy for you to close your existing credit cards. But they have a different way. By using your social security number they open new accounts and misuse them at their will. The main problem is that you may not find it out before it is too late. Identity theft statistics are basically facts formed by materials that are available from the police and fraud deterrence and prevention system of the country. But the main hindrance in this process is that the there are innumerable cases when identity thefts go unreported. Due to this reason, it becomes difficult to create a comprehensive report. According to recent estimates more than ten million people fall victims to identity theft per year in America itself. There are millions of others in other parts of the world. Thus, identity theft has emerged as a consumer crime without parallel. As per the estimates of Secret Services as a result of identity theft the consumer lost billions of dollars per year. As per recent information, identity theft is going to spread its poisonous tentacles and soon there going to be mass victimization. In order to safeguard against this it is absolutely essential that you adopt financial transactions for baffling account activity, withdrawals, or fund transfers. An identity thief is after your hard earned money. He or she will rob you out of your money and leave you with insurmountable debt. In such a case, the resources of no State and no laws will be able to bring about a resolution to your circumstances. Speaking of resolution, an insurance for ID theft is probably the only thing that can save your situation. ID theft statistics reveal that ID theft ranks first in terms of consumer complaints. Approximately every 80 sec an identity theft takes place in the country of America. The study conducted by Gartner Group bring to the focus that one consumer in every fifty has faced this unfortunate incident that is identity theft. As a result, consumers are getting more and more worried everyday and they are now demanding a change in the electronic system of transaction to make it safe and secure from the identity thefts. As per the records of FTC ID theft is first gaining popularity because they are easy to commit and more profitable than most of the other crimes. Also chances of getting caught is also lower than other crimes. FTC records reveal that every year there is a loss of around a hundred million dollars from various financial institutions every year. The security provided by your credit company is not enough as the thief has your social security number as well as other necessary information which will take him just a few seconds to let them believe that it is you who is actually calling. The problem arises when the company start sending debt collectors. In most of the cases they will sue you and force you to pay their bills than otherwise. The statistics on identity theft do not lie. Protection against identity theft does not happen by itself, you will need to take action and be proactive instead of waiting before it happens to you. |