Why would I want identity theft protection?
Your personal information is everywhere these days, with the proliferation of social networks, emails, and text messages. You should take steps to proactively protect your identity and credit. If your identity is stolen, it may severely hamper or stop you from taking out a mortgage, credit card, or other types of credit. Identity thieves could also commit tax fraud. Resolving this can take time and money. In addition, data breaches and identity theft has been on the rise in recent years.
- Retailing giant Target reported a data breach in December of 2013 that affected about 40 million credit and debit cards. The stolen data included customer names, credit and debit card numbers, card expiration dates and the three-digit security codes on the backs of cards.
- Financial losses due to personal identity theft totaled $24.7 billion in 2012, up from $13.3 billion in 2010*
- 16.6 million people experienced identity theft in 2012*
- 85% of identity theft incidents involve the fraudulent use of existing account information, such as credit card or bank account information*
- 29% of identity theft victims spend at least a month in resolving problems*
* U.S. Department of Justice (Bureau of Justice Statistics)
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