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Of those surveyed, nearly half (50%) said they did not know how to guard themselves from identity theft. The Federal Trade Commission (FTC) reports that identity fraud is the number one concern voiced by callers who contact that office. As more people become aware of the pervasive nature of white-collar crime like identity theft, they grow increasingly anxious, wondering how to protect their documents and identification data from others who may have access to it. Suspicion and doubt grow, damaging an organizations internal trust and confidence among employees.
The amount of time spent recovering from victimization by this crime increased from 175 to 600 hours in the past few years, an increase of more than 2,000 percent. People often learn of a theft when they belatedly receive statements for unpaid bills or new purchases that they had nothing to do with. Thrown into panic mode, they start calling banks, companies, and stores to try and stop the flow of illicit charges. In some cases, they may spend months or years trying to restore a bad credit rating due to a thiefs ravaging of their good name and credit standing.
Security experts suggest that five percent or less of the perpetrators get caught. Instead, victims must pay the price for the crime. The aftermath includes higher credit card rates, increased insurance fees, and potential job loss or security risks.
Some thieves can take a substantial portion of a victims identification information and create a nearly identical persona that they use to con businesses of goods and services. A victim may lose credit card privileges or may have to start at the lowest rung of the ladder in rebuilding their credit rating.
The Cost to Prosecute
The U.S. Government Accounting Office (GAO) reports that the average cost of prosecuting white-collar crime of this nature can run between $10,000 and $20,000.
The top three locations reporting identity theft are Washington D.C., California, and Arizona, followed by Nevada, so take extra precautions if you plan to visit these areas or if you are resident therein.
A Few Tips
Actually, no matter where you live or what type of work you do, you will want to guard your personal documents carefully. Be sure the human resource manager keeps files locked up tight, whether online or in a file cabinet. Limit access to your computer, use tricky passwords and user names, and check your credit statements each month to monitor new charges.
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Tips on
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Information on how to get back your identity and
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Don’t become an Identity Theft victim. All
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Did You Know... |
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