 What Is
Identity Theft?Identity theft occurs when someone
uses your name, address, Social Security number (SSN), bank or
credit card account number, or other identifying information
without your knowledge to commit fraud or other
crimes. Identity Theft Statistics
In the most comprehensive look to date at a fast-
growing crime, the Federal Trade Commission (FTC) identified that
nearly one in eight U.S. adults fell victim to identity
theft in the last five years. With 9.9
million victims last year alone, the FTC warned the
identity thefts cost businesses $48 billion and $5 billion in out-
of-pocket expenses to individuals. The Federal Trade
Commission has identified that up to 38% of victims of
Identity Theft did not report the crime, jeopardizing their future
credit rating. What Are The
Consequences Of Identity Theft?Once thieves have
your personal information, they may: - Go on spending
sprees using your credit and debit card account numbers to buy
"big-ticket" items like computers that they can easily sell.
- Open a new credit card account, using your name, date of
birth and SSN. When they don't pay the bills, the delinquent
account is reported on your credit report.
- Change the
mailing address on your credit card account. The imposter then runs
up charges on the account. Because the bills are being sent to the
new address, it may take some time before you realize there's a
problem.
- Take out auto loans in your name.
- Establish phone or wireless service in your name.
Identity theft victims should not
delay in correcting their records. The longer the inaccurate
information goes uncorrected, the longer it will take to resolve
the problem. Don't be an identity
theft victim any longer sign up for our credit repair service and
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