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ID Theft

ID Theft

Concerned with ID theft? According to a study by Javelin Strategy and Research, 2009, there were 10 million victims of identity theft in the U.S. in 2008. It is believed that this figure is growing. 1 in 10 consumers has already been a victim of ID theft. Identity theft can be very costly to the victims and take months or even years to correct the damage. This is why as of September 2008, over 50 million Americans were using a credit monitoring service. ID theft is one of the fastest growing crimes in the world and one of the most difficult to protect yourself again.

There are several classifications to Identity Theft, they range from cloning your credit cards, accessing your bank accounts, setting up false credit and then there are the high end professional thefts, used for passports, visas, government documents or creating a completely false identity.

The most common is the theft of your basic information to access cash in some form or another

Most of these types of thefts, your losses are covered by the insurance offered through your credit card companies, your banks, and lenders. Most companies limit your losses to less than $50.00, but in most cases you will not be held responsible for any amount unless it is negligence, such as giving sharing your credit card with a friend or neighbor, giving someone a card on your account with their name, giving them your PIN number. But in most of these instances you should have some liability because it was you who allowed the theft.

In the case of ID theft, you are just an innocent party

There are a lot of companies today, offering credit monitoring services, or credit insurance, or other related products or services. These companies can spot problems on your credit reports. Maybe one day, the credit bureaus will supply more up to date information, and control the application for new credit, and the data that is verified. But until that happens we are all on our own and must be vigilant in protecting our identity.

One of the best ways to watch for ID theft is to monitor your credit, request copies of your credit reports from the appropriate agencies, they are required to supply you this information free of charge, at least once a year. Watch your spending habits, be careful how you use your credit card on line, and destroy your bills and statements each month. A few credit card issuers offer online programs that provide you a disguised credit card number to use for online purchases, this is a bit inconvenient, but it will help protect you, you simply access your card issuer online and ask for a one time use number and they issue you a number that can be used for a single purchase. It doesn’t change anything you do, but stops you from inputting your real credit card number into the internet and stops thieves from using it again.

The Id theft monitoring services below offer services such as credit debit & ATM card protection, ID theft insurance, daily 3 bureau credit monitoring, and account alerts. Choose a provider and click the “Sign Up” button below now for more information or to begin monitoring your credit. See also, is id theft monitoring worth the cost?

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