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How Much Can Identity Theft Impact Your Life? GUEST POST

Identity Theft

In a digitally-connected world, our identity is more public than ever before. Identity theft can happen to anyone including newborns still in the learning basic survival skills to those enjoying their last few years. Identity protection is no longer a guarantee and individuals and companies need to take active steps in preventing fraud. Last year in the United States, 15 million people were the victim of over $16 billion stolen from fraud. Identity theft doesn’t affect only a victim’s income and bank account.. Criminal records, credit scores, and even medical records are open game to criminals.

The most common form of identity theft starts with a fraudulent bank account or credit card charge. About 86% of identity theft victims recognized an early bank account or credit card charge that wasn’t authorized. Those that catch the charge early can typically have the problem fixed within a matter of hours. Not all people are so fortunate, though. Some fraud cases can take years to resolve while 1 out of 4 never fully recover from the fraud.

Higher usage on social media platforms also puts users at a higher risk. Social network users are 46% more likely to experience fraud. Online shoppers also face a 30% higher risk of fraud than those that stick to traditional shopping venues. Taking regular steps such as removing credit card information from your computer, frequently changing and creating complex passwords, and protecting your online accounts can help protect that extra money you worked hard for from thieves.

Whether you’re 30 and just starting a family or 40 and in the prime of your career, staying diligent with your safety is more important than ever. Check out the infographic from Investment Zen below. You’ll learn a little more about identity theft and a few tips to help reduce your risk. If you suspect identity fraud at any time, call the Federal Trade Commission and file a report.

This is a guest post from Megan Wells at The Infographic is their unique property and copyright and is used with permission.

How Much can Identity Theft Affect Your Life?


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VinceSummers wrote on December 18, 2017, 8:34 AM

Child ID theft. You've got to feel sorry for the people who steal your identity. They must be bipolar or something. Yeah, right. Let's put their north pole at the North Pole and their south pole at the South Pole! An eye-catching article.

MegL wrote on December 18, 2017, 8:44 AM

There was a story in the newspapers in the UK some years ago about a policeman arriving at a man's door to ask about his daughter. She had allegedly been involved in scams and had proved her identity using her passport. When the man answered the door, he told the policeman his daughter didn't own a passport and the woman allegedly owning the passport had a different skin colour from his daughter! There also used to be a scam where the identities of children who had died very young were used for obtaining passports. That scam has been closed now. It's a dangerous world out there!

VinceSummers wrote on December 18, 2017, 8:58 AM

When punishments are strict and quickly enforced, wrongdoing decreases. Ecclesiastes 8:11 reads: Because sentence against a bad work has not been executed speedily, that is why the heart of the sons of men has become fully set in them to do bad.

MegL wrote on December 18, 2017, 1:24 PM

Enforcement is very necessary.

Kasman wrote on December 18, 2017, 3:17 PM

New technologies give criminals the opportunity to rob us in new ways. Today our real lives are now so interwoven with our online lives that there is no way we can guarantee we won't be scammed online. Of, course, the only way to guarantee we won't be robbed online is never to go online - not really practical in our modern world! We can only do our best to minimise the danger and the six tips given above are a good start.

VinceSummers wrote on December 18, 2017, 6:19 PM

It's near to impossible NOT to go online. Some firms penalize you if you pay another way.

MegL wrote on December 19, 2017, 4:39 PM

My sister in law does not have the internet and has to ask me to do anything online for her. She isn't penalised by firms, yet but I can see that coming!

lookatdesktop wrote on December 19, 2017, 6:02 PM

I found out that back when I was just out of high school, by the Social Security Administration, that my Social Security no. had been used for a person to get a student loan. I was not negatively affected by this and it was based on the fact I had been filling out job applications after I graduated and an unscrupulous individual used my SS number. They managed to trace it to the person who got severely punished by doing it.

MegL wrote on December 20, 2017, 2:11 AM

You were lucky not to have had a lot of trouble with that.