Picture this… you wake up one morning and you find out that there is somebody out there using your identity, your hard earned money and having the time of their life at your expense without you knowing it! What would you do? Well, you’d probably be appalled, yell ‘oh God help me’ and then contact your credit monitoring company but honestly it’d be pointless as the damage would be done!
The good news is that it’s a scenario you only pictured and it’s not going to happen if you have effective identity theft protection measures in place.
Shocking Facts about Id Theft – The Con Game
Did you know that identity theft has become one of the fastest growing crimes worldwide? Ever since 2005 it has increased 50% more and continues to grow. In fact according to the most recent study carried by Federal Trade Commission, about 10 million Americans fall prey to id theft every year.
Furthermore, the latest figures presented by Javelin Strategy and Research in their 2013 identity Fraud Report show that in 2012 fraudsters stole over $21 billion. 12.6 million people were duped making an equation of 1 victim after every three seconds. Now you can imagine the degree of risk you are exposed to!
However, the 2 main reasons behind the increase in this crime are (1) the lack of awareness of the types of identity theft scams and (2) lack of implementation of essential identity theft protection measures.
Top 3 Common ID Scams of 2012
Let’s walk through the top 3 identity theft scams of 2012 to help you dodge them so that you don’t become a victim:1. Phishing Emails
This is a cunning online scam that has compromised the identity of millions of Americans. In this cyber ID crime, the scammer sends you a fake emails disguised as legitimate companies; usually as credit card organizations. By looking at the email, its format and convincing copy it’s hard to say that it’s not genuine. Some of them look better than the real thing. So, the question comes down to how do you escape this crime?
Here are some ways to point out that the email is nothing but a hoax to trick you into disclosing your confidential information. The email comes with an alluring offer or a warning and sometimes a fabricated story of how your account can be hacked if you don’t take action now. It usually demands for urgent confirmation of your identity. It takes you to a web page link where you insert your personal data and then little do you know you’re scammed! Many even have 1-800 numbers with a 24/7 call center; ready to take your information at all times.
1. Return Tax Preparer Fraud
This Identity theft scam is growing more popular. According to the statistics 60% of taxpayers hire tax professionals to prepare tax returns. With the increased demand for tax preparer companies, scammers have jumped on the bandwagon…and taking advantage of this need. The fake tax preparers prey on uninformed taxpayers. They inflate their returns (preying on greed) and then have them sign them over to the tax office, with promises that they will take care of everything and you will get a large return. Wrong. You have just signed over your money to them. Thus the IRS is not at fault, you are. No money for you. The kicker is they inflated your return so now the IRS will send you a bill for the overage. You’ve just been had. If you don’t verify the service provider you can become a victim easily. Use an established company. Just because they have a store-front does not mean they are legitimate.
2. Child Identity Theft
Studies showed that 2.5% of the US households with children below 18 years of age have experienced child id fraud in the past. This number is growing rapidly. ID thieves have figured out that kids do not check their credit for years. So they can continue to use their ID for a long time without detection. It is considered to be the fastest id theft growing segment in the country. Furthermore, the ugly truth is that 27% of the time, it is a relative or a close friend of the victim’s parent.
3. SOS- Identity Theft Protection Co.
They say “desperate times call for desperate measures.” But you do not need to take desperate measures to avoid identity theft scams. For the price of one lunch a month, you can avoid it. Get ID theft prevention, NOT monitoring. Relying on credit monitoring providers is no help as they only inform you once the criminal has committed id fraud. That is way too late.
Don’t wait for the crime to occur, prevent it from happening to you, by subscribing to a reliable and a trusted identity theft protection company today!
Provided by keepmyID.org