RESEARCH STUDY ON IDENTITY THEFT RESULTS
The Consumer Information Bureau is a leading authority on identity theft and has been helping victims of identity theft protect their identity and recover from identity theft since 2001.
In a recent study the Consumer Information Bureau reports the following shocking statistics about identity theft. It has become one of the fastest growing crimes in America.
The fact is that things have changed
It used to be if there was an issue with identity theft the victim would simply freeze their credit. But since the advent of the dark web in 2014 where criminals buy and sell stolen identities the number of those effected by identity theft has skyrocketed.
Next hi-tech criminals have been hacking into major databases and capturing the confidential information of millions of consumers. Then they have a worldwide market for that information on the dark web.
In recent years identity thieves have become much more sophisticated and use the social security numbers along with the victims date of birth to hack into the victims existing accounts, file false tax returns and hack onto their social security and much more. A credit freeze does nothing to protect that.
Credit monitoring, being offered as protection only notifies the victim after accounts have been opened. Monitoring does not stop them from opening accounts.
Temporary fraud alerts are alright but the problem is, once your information has been compromised you will need long term, extended protection. Temporary fraud alerts are not enough.
Why is it important to protect yourself?
It can destroy your credit and pose significant financial liability
Conclusion
After a complete review it was determined that in today’s environment, it is not a matter of if, but a matter of when your information will be compromised. The only solution is to put the proper security in place that will block anyone that has or may have your information from being able to use it. A complete risk assessment should be done to determine where you are vulnerable. It will require a combination of resources to provide comprehensive long term protection to be sure you are fully protected.