Identity theft is a crime that’s simply a nightmare for those going through it. Trying to clear your name, recover bank account funds, deny liabiity for charges, etc., can really take a toll. But there are those who feel that identity theft, as a crime, has been clown out of proportion. Here are some short facts on the matter:
- Identity theft is considered to be the fastest-growing crime in the U.S.
- Roughly 700,000 become victims of identity theft every year.
- Identity theft costs consumers an estimated $500 million to $2 billion each year.
- Credit card fraud is the most common form of identity theft.
- Utility fraud (using another identity to get utility service) and bank fraud are the second and third most-common forms of identity theft.
- Approximately 40% of all fraud crimes involve identity theft.
- It takes some victims years to get identity theft matters resolved.
Needless to say, there are many other facts and statistcs that could be cited. Clearly, identity theft has a wide-ranging impact, and it’s important that you develop protection and defense from the threat of identity theft.