Identity theft is a kind of a theft in which a person uses someone else’s identity in order to gain access resources or obtain some kind of credit. Those whose identity has been stolen can suffer from various adverse results and consequences.
Identity theft is punishable by law and may be treated with strict actions. There are many facts about identity theft which everyone must be aware of in order to avoid being a victim and to take the right actions if and when it strikes. Here is a list of 10 facts about identity theft:
- People who are between the ages of 18 and 24 are the highest victims of identity theft cases. They often have their driving licenses stolen, their school or college IDs lost or when being asked job interview questions etc.
- People who are above the age of 65 are the least likely to experience the situation of identity theft but are also the ones who tend to spend the maximum time in resolving the issue in case such a theft ever occurs.
- One of the best ways to prevent ID theft is a security freeze. This option allows one to lock access to the credit file. A security freeze costs less and provides protection.
- To prevent identity theft, parents can request a credit report for their children.
- In the year 2008, ID theft of credit card fraud was reported to be the most common reported type of an ID theft.
- ID theft is one of the fastest growing crimes in the world and each year, about 10 million people become victims of this crime. This means that 19 people become new victims every minute of this crime every year.
- It is a fact that of all the cases of ID theft, about 70% cases are perpetrated by an employee or a co-worker of a business or an organization.
- As a result of identity theft, 47% of all the victims of identity theft have trouble in getting a loan or a credit card.
- Identity theft related to electronic fund transfer was the most frequently reported kind of an ID theft bank fraud during 2008.
- Another fact about Identity theft is that 9-18% of the victims of identity theft take a period of 4 years or longer to find out that they have been made a victim of this crime.