Identity Theft Increasing
Have you ever opened unsolicited mail or you received your bank statements or bills and immediately thrown it in the garbage without reading it. Well guess what? You are giving a criminal exactly what he or she needs to support a career in crime? Throwing away these documents can cost you a lot and you can spend the next several years trying to clean it up. A person with a cruel mind can use your personal information to steal your identity and apply for loans and credit cards in your name, or even impersonate you in order to take over your credit/assets. I have seen several clients battle with this issue. Identity theft is continuously increasing.
According to Life lock identity theft 'is the fraudulent acquisition and use of a person's private identifying information, usually for financial gain". People all over the country are desperate for money and some will go to any lengths to get it even if that means stealing it from a fellow American.
According to Kate Ennis "The number of identity fraud incidents increased by 13 percent over the past year, but the dollar amount stolen remained steady. Additionally, consumer out-of-pocket costs have decreased by 44 percent since 2004, likely due to the improved prevention and detection tools that have come available as well as fraud alerts leading to reduced detection time".
The households with incomes higher than $70,000 were twice more likely to experience identity theft than those with salaries under $50,000 (U.S. DOJ, 2005). These numbers are increasing and the likelihood is that it is expected to continue to grow. Now, technology plays a huge part in the increase of identity theft. Because technology is increasing criminals are finding several ways to get the information that they need. Recently, New York...