Identity Theft, What You Need To Know About I.D. Theft

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An Introduction To Identity Theft

Quick Facts on I.D. Theft
5-10 Million Americans are victims of identity theft annually.
Expenses to correct the resulting problems can be staggering to the consumer.
It can take hundreds of hours to correct the problems.
Some consumers still have lingering troubles years after the crime.
Most do not know where to begin to correct the problems.

How many people are affected?
According to a Gartner study the 2006 victim population was at 15 million victims. That means every minute about 28 ½ people become a new victim of this crime, or a new victim in just over 2 seconds.

What is the cost to business?
Studies on the total cost of identity theft vary. One study said that identity theft cost U.S. businesses and consumers $56.6 billion in 2005.
Network Computing, Don MacVittie, Aug. 31, 2007. Javelin 2006 Identity Fraud Report

What is the cost to victims?
In 2004, victims spent an average of 330 hours recovering from this crime, often over a period of years compared to 600 hours in 2003. In 2004 the total reported hours ranged from 3 hours to 5,840. This difference is due to the severity of the crime- a lost credit card vs. the use of your Social Security number or information to be your "evil twin."
ITRC web site

We also are looking for others who may be interested in helping others and sharing about Family and Friends Financial. Visit us at https://www.familyandfriends.com/identitytheftresources

Protecting Yourself On The Internet 

Today people use the Internet to see what movie is playing, shop, do homework, pay bills and for banking and financial transactions. For many of us, email has not only taken the place of postal mail, but also replaces many telephone calls. There is an increasing group of Internet users who have direct connections to the Web through cable modem, T-1, or DSL, which means they are connected 24 hours a day, 365 days a year. In most ways this type of connection is wonderful, as it is always "on," very convenient, and offers very high speed connections.

However, there is one major drawback to being continuously hooked up to the Internet that many of us have overlooked, or are not aware of. Some Internet Service Providers (ISPs) are neglecting to tell you just how vulnerable you might be to being hacked or otherwise attacked while connected to the Internet.

The Internet is just like the rest of the world. It is populated with the same kind of people society deals with on a daily basis, including criminals and those who simply wish to create havoc and chaos. In the past, these people might have gotten a kick out of hacking a company's homepage or Website in order to change some graphics, or leave a personalized "tag" on the site. The object was simply to prove you had the skill to "break into" another computer. Today, however, computer and database breaches have become more criminally focused.

Leaving your computer hooked up to a direct connection without firewall protection, either by software or hardware, is like leaving your house unlocked all the time. Worse yet, you have a sign hanging out front saying "Come on in!" When you are connected to the Internet, you literally have access to the world. What some people forget is that this is not a one-way mirror. If you can see out, that means anyone on the Internet, with the right program, can see into your computer as well. Not only that, but they can plant a program into your computer (a Trojan, or virus) so that they can access it not only at that very moment, but in the future as well.

Once a thief gains access to your computer, they could gather all the personal or sensitive information you have stored on the hard drive unless your information is securely encrypted. Social Security Numbers, credit card numbers, bank account information, your budget, and your electronic tax returns - any and all might be up for grabs. Above article is a brief from the ITRC web site.

What is identity theft? 

What is identity theft?

Identity theft occurs when someone uses your personally identifying information, like your name, Social Security number, or credit card number, without your permission, to commit fraud or other crimes.

The FTC estimates that as many as 9 million Americans have their identities stolen each year. In fact, you or someone you know may have experienced some form of identity theft.
The crime takes many forms. Identity thieves may rent an apartment, obtain a credit card, or establish a telephone account in your name. You may not find out about the theft until you review your credit report or a credit card statement and notice charges you didn't make-or until you're contacted by a debt collector.

Identity theft is serious. While some identity theft victims can resolve their problems quickly, others spend hundreds of dollars and many days repairing damage to their good name and credit record. Some consumers victimized by identity theft may lose out on job opportunities, or be denied loans for education, housing or cars because of negative information on their credit reports. In rare cases, they may even be arrested for crimes they did not commit. For more information on Identity Theft visit FTC.gov

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Susan52 wrote...

I think this is one of those situations where everyone says, "It won't happen to me." I'm sure most victims felt the same way - until it did happen to them. Good information, nice lens!

ReplyPosted December 04, 2008

JustBon-Crochet-Designs wrote...

Much needed resource in the battle against identity theft. Great work. Thank you for this info. 5*s

ReplyPosted November 19, 2008

randimoore wrote...

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Thank you,
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ReplyPosted November 18, 2008

Billco wrote...

Very informative. .

ReplyPosted November 16, 2008

packman57 wrote...

Thanks for putting this Lens together. Full of very important information. Well Done

ReplyPosted November 14, 2008

 
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Quick Facts on I.D. Theft

5-10 Million Americans are victims of identity theft annually.
Expenses to correct the resulting problems can be staggering to the consumer.
It can take hundreds of hours to correct the problems.
Some consumers still have lingering troubles years after the crime.
Most do not know where to begin to correct the problems.

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WE WANT YOU!
We also are looking for others who may be interested in helping others and sharing about Family and Friends Financial.
Visit us @
https://www.familyandfriends.com/identitytheftresources