FTC Reveals Identity Theft Victimizes About 9 Million Americans

(Newswire.net — October 18, 2016) Tallahassee, FL — Identity theft is happening around the world. It is considered to be one of the fastest growing crimes, especially in the United States. While there are measures implemented to fight fraudsters, it seems that the crime rate still continues to rise. 

The Federal Trade Commission reveals identity theft victimizes about 9 million people in the United States per year. This type of crime can easily be committed nowadays considering the wide availability of card skimming devices and apps.

Individuals who become victims of identity theft are typically entitled to free credit monitoring. It is imperative for consumers to keep a watchful eye on their financial statements of a regular basis. This could help them detect unfamiliar activities earlier.

This type of crime takes place when fraudsters obtain personal information such as a consumer’s Social Security number and use it for fraudulent purposes.

While it may sound like 9 million is a large number, the truth is that it only affects about 3 percent of the U.S. population.  

According to the FTC, credit card fraud only accounts for a quarter of these reported cases. When the credit card information is used to make purchases, it is considered to be a credit-card fraud. One the other hand, it is considered serious when the card or its information is used to fraudulently take loans or open new accounts. 

When this happens, victims need to do certain measures to restore their credit and clear their name. This can be a completely arduous and lengthy process. Numerous financial institutions and credit card companies have taken measures to help consumers.

There are those that introduce products with a credit-monitoring feature and others make some reimbursement for lost funds or wages. There are even employers that offer ID theft insurance as a way to help their employees.

The measures these companies resort to are implemented to reduce the amount of money and time involved in resolving this crime. Employees may speak with the benefits specialist of their employer to determine their eligibility. 

While these services are available, experts recommend that consumers should resort to no-cost, common sense measures to increase their protection against fraudsters. 

One of the best ways to do it is to simply use the set of RFID blocking sleeves, which are designed to block card skimming apps and devices from reading and stealing information from credit cards. These sleeves can cover credit cards and fit inside a wallet. 

Individuals who want to take advantage of the benefits the RFID blocking sleeves could potentially offer may go to amazon.com, where it is available for a purchase. (amazon.com/rfid-passport-sleeve-protector/dp/B0150T0AI2).