In 2017, 16.7 million people suffered identity fraud. And, this number may stay on the rise. Every day identity thieves are getting more creative, to say the least.
Also, our information is more accessible than ever making us more vulnerable to identity theft. You may think you won’t be the next victim.
Yet, certain facts about identity theft might make you think otherwise. Don’t know what we’re talking about? Keep reading to learn some horrifying identity theft facts and how to protect yourself.
Is Your Data Protected?: Must-Know Facts About Identity Theft
The number of identity theft cases keeps rising. Is your data protected? You may think you’re immune to ID theft.
Yet, the only way to protect yourself is by learning as most as you can about this type of theft. Here are 3 facts that will push you to stay informed about identity theft and protect yourself.
1. There Is More Than One Type of Identity Theft.
You may think you can only suffer the type of identity theft where your credit gets damaged. Yet, there are many more types of identity thefts.
Some of the most common types are medical, tax, social, and financial identity theft. Social ID theft is when the thief creates fake social media accounts in your name.
2. The Average Identity Theft Repair Process Requires More Than 30 Hours.
Yes, you read that right. It takes more than 30 hours on average to fix identity theft cases. Some victims have to wait years to repair the damage.
Remember that the repair process and duration will depend on the type of identity theft you suffer. One of the hardest types to fix is medical identity theft.
The best way to protect yourself from this type of ID theft is keeping an eye on your healthcare insurance bills. If you notice a charge, you should contact your health insurance company as soon as possible.
3. An Identity Thief Can Drain All Your Accounts.
Financial identity theft can drain all your bank and retirement accounts. This can happen when an identity thief gets the right information.
Information such as Social Security Number, Name, Date of Birth, among other essential details can help them take control of your finances. They can steal your money and even take loans in your name.
If you see a transaction labeled as PSV*NOVA-X REPORT, don’t only ask yourself what is PSV? You should visit the company website and contact the business.
You might’ve subscribed to a service. But, didn’t know how it would show up in your statement. It’s recommended to keep track of all your accounts, statements and credit reports to protect your data and finances.
If you notice accounts you don’t own or inaccurate information in your credit reports, you should contact the credit reporting agency as soon as possible.
Wrapping It Up
Learning must-know facts about identity theft is the first step to protect your data and information. Remember you may fall victim to different types of identity theft. Different strategies such as using different passwords, credit, and bank account monitoring can help you protect your information.
While identity theft repair may take a long time, it shouldn’t put your life on hold. Are you a victim of identity theft? Don’t know what to do?
Read our article for your step-by-step identity theft repair guide.