Number of Identity Thieves Continue to Rise and Results in Billions of Losses

(Newswire.net — July 11, 2017) Tallahassee, FL — Despite the techniques and technology resorted to by governments and financial institutions to fight criminals, it is undeniable that they have never stopped crooks from operating.

As a matter of fact, the number of identity thieves continues to rise and it even results in billions of losses. One of the major reasons why this type of crime is still common is because of the wide availability of the electromagnetic card skimmers.

This type of device works by establishing signals with an RFID-enabled debit or credit card and some other cards. It can steal information in just a matter of seconds or minutes even without the victim realizing it.

The crooks just need to stay a few feet away from their prey to commit the crime. Unfortunately, this card skimming device is widely available, and anyone can purchase it. It is usually cheap, and this makes the device more available to anyone.

FIS, which is the largest provider of banking and payment technologies in the world, reveals that the cost of credit card fraud in the Unites States reaches up to $8.6 billion per year. Experts even suggest that this figure will skyrocket.

Individuals who are victimized by identity thieves often struggle with what appears like an endless battle with credit agencies as well as banks and credit card companies. It involves doing some steps to reverse fraudulent transactions as well as restore the good credit of a victim.

Today, many driver’s licenses, credit and debit cards, transit cards, IDs, and passports are equipped with Radio Frequency Identification (RFID) chips. This offers a convenient information sharing and contactless scanning.

While it speeds up transactions, it comes with a cost as it sacrifices security and privacy. Hackers can purchase electromagnetic card readers for about $100. With this device, these thieves are able to easily skim personal and financial information.

Some of the commonly stolen information are the name, account number, and expiration date.

The good news is that consumers can take advantage of the RFID blocking sleeves. This product comes in a set of 10 sleeves for cards and 2 for passports.

These sleeves are designed to block electromagnetic skimming devices from stealing information. They come in a size that can fit most cards and passports.

There have been quite a number of consumers who have been satisfied with these sleeves. These card protectors are an easy solution against thieves who are everywhere, ready to victimize their prey.

(www.amazon.com/RFID-Blocking-Sleeves-Protector-Protection/dp/B0150T0AI2/)