Identity Theft Cases Cost Billions Of Dollars

(Newswire.net — November 2, 2016) Tallahassee, FL — Credit and debit cards are supposed to make financial transactions easy, fast, and safe. As a matter of fact, millions of people use these cards in paying for products and services. However, there are threats in using debit and credit cards, and one is identity theft.

Growing cases of identity theft costs billions of dollars in the United States. Identity theft is one of the fastest growing crimes nowadays. There are factors that contribute to the rise in the prevalence of identity theft.

One is the wide availability of inexpensive card skimming devices that are extremely easy to use. These devices are designed to steal personal and financial information from consumers. There are even apps that are designed to steal information and can be used with phones and tablets.

Once credit card information is stolen, it can be used to make purchases, open bank accounts, or take out loans in the name of the credit card holder. In some cases, victims are only made aware that their information has been stolen after checking their financial statements.

According to the Bureau of Justice Statistics report in 2014, identity theft accounts for a total cumulative loss of $15.4 billion. It is imperative that consumers take measures to increase their protection against fraudsters.

Since it has become quite easy for thieves to steal information, there are ways that consumers can ward them off. One is to strengthen their digital security by getting good passwords and PINS, and ensure that they vary from one account to another.

Fraudsters often make it easy to steal information in crowded places, such as subways and airports. These places often have people that are not quite mindful about their belongings and other stuffs. This makes it easy for thieves to steal without the knowledge of victims.

One popular method is to use aluminum foil and cover the credit and debit cards with it. Aluminum foil can be placed inside wallets, and it will take care of protecting debit and credit cards.

Credit card skimming devices work by getting signals from RFID-enabled cards, and steal their information. These devices can be purchased online, and with a little knowledge, anyone can pretty much steal with its use.

There are also RFID blocking sleeves available that consumers can use to protect their credit and debit cards. These sleeves are designed and made available for consumers who want to increase their protection against fraudsters.

These sleeves are extremely popular nowadays, and they work by blocking the signals between the credit and debit card and the card skimming devices. They are specifically helpful to individuals who usually travels in subways and airports.

The set of RFID blocking sleeves can be purchased at amazon.coms (www.amazon.com/rfid-blocking-sleeves/dp/B0150T0AI2).