Those are the top actions taken by the 85% of people who reported taking steps to keep their identities safe last year, according to a report by ARAG, a legal insurance company. They asked people about their experiences with identity theft, as well as their feelings about protecting themselves, and the specific actions they take to ensure they don’t become victims of identity theft.
According to ARAG, 17.6 million people ages 16 and over were victims of identity theft in 2014. That’s about seven percent of the population. Identity theft is defined as having your personal information used to open an account, pay for something with a stolen credit or debit card, receive government benefits, or give false information to authorities. By far the most common type of identity theft is having your credit or debit card information stolen and used to make fraudulent charges.
Once people are victims of one type of identity theft, they are more likely to be victims of another type of fraud—so it’s important they don’t let their guard down.
Key findings of the ARAG study include:
• Fifty-two percent of identity theft victims resolved the incident within one day, but 9% reported spending more than a month dealing with the repercussions.
• The most common way to find out your identity has been stolen is being contacted by your financial institution. Forty-five percent of folks found out this way, while 18% noticed the phony charges on their account themselves.
• Most people don’t report identity theft to police. Eighty-seven percent contact their credit card company or bank to report the incident, eight percent contact a credit bureau, and fewer than one in ten people contact the police.
• The most common demographic for identity theft was a white woman earning over $75,000 a year.
• Older people are more vulnerable to identity theft; victims age 65 and up are on the rise, from 2.1 million in 2012 to 2.6 million in 2014.
Things like shielding your personal information when you fill out forms, being careful online, shredding documents, and changing passwords will all help keep your identity safe.
Read Also Related News
Credit card fraud is an ongoing problem for merchants, consumers and financial institutions alike. According to a wide-ranging Lexis Nexis study, merchants in the United States lose nearly $200 billion a year to credit card fraud, while...
Studies show that several emerging payment options are gaining acceptance among consumers, but not everyone is on board with the rapid pace of technology and the new ways to pay for purchases. The latest TSYS U.S. Consumer Payment Study...
Many people may be familiar with the name Frank Abagnale. Played by Leonardo DiCaprio in the 2002 movie Catch Me If You Can, Abagnale has worked with the FBI for over four decades and advised hundreds of corporations and government...
If your security code is rubbed out, contact your credit card issuer and explain them your situation. Most likely you will be offered a replacement card. Your credit card issuer will not provide you with the security code over the phone or via email. That's for your own protection.
At my local bank there was an advertisement that if one enrolls in Alaska airline credit card and spends $1000 in the first 3 months then a travel companion could fly free. Is this still in effect? Does it apply to international trips and 1st class? Does the flight need to be Alaska airlines/ Virgin airlines?
Currently, the Alaska Airlines credit card has the following offer: “Annual companion fare from $121 ($99, plus taxes and fees from $22) after you make $1,000 or more in purchases within the first 90 days of your account opening”. This benefit will qualify for a round-trip coach Companion Fare on Alaska...
I once had the US Airways credit card, then the airlines merged with American Airlines and my card transitioned into the AAdvantage MasterCard with a higher annual fee and without companion pass. I use the card one year and then closed it because I don’t fly with American Airline often. Now I am looking for a credit card without an annual fee. What are my options?
You may like one of the regular travel rewards credit cards offered by major banks. Travel rewards credit cards allow earning miles on all purchases. The cards also have one-time sign up bonuses which may be enough for a domestic flight. There are credit offers without annual fees, the other offers come with rather low...
I had the US Airways MasterCard back in 2013 but had to close it because I got divorced and had some troubles with keeping up with my credit cards fees. I’m back on track now and would like to apply for this card again but can’t seem to find it anywhere. Can you help?
The US Airways Premier World MasterCard is no longer offered. US Airways removed their credit card after merging with American Airlines. Today you can apply for one of the AAdvantage credit cards offered by Citi or for a regular travel rewards credit card. Both types of credit cards will allow you to earn miles and redeem...