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Identity Theft Can Happen To Anyone

An 87-year-old widow was scammed for $70,000, including the purchase of a vehicle and application for a student loan. 

A police lieutenant had his personal information stolen and used in three separate instances of identity theft. The theft originated from data related to his childhood insurance coverage. 

A bank vice president found out his identity had been used to open four credit cards, purchase a sports car, and rent an apartment. The thief had a driver’s license featuring his own picture and the stolen information.

These true stories are just a few examples of identity theft that could happen to anyone, regardless of your age, occupation, financial status, or where you live. In each case, the victims learned about the crime after their information was stolen and had already been used multiple times. 

Identity theft occurs when someone steals another person’s sensitive personal information and either uses it as their own or sells it on the black market for other perpetrators to use for financial gain or fraud. In spite of the work that is being done to keep our information safe, cases of identity theft continue to be reported at an alarming rate. 

According to the Federal Trade Commission’s Consumer Sentinel Report published in 2023 and covering the full year of 2022, reported cases of identity theft have increased by over 584% in the last 20 years. Here are some other highlights from this report:

 

While safeguarding your personal information is key, so is knowing what to do if you find out that you have already become a victim of identity theft. First, you should know what red flags to watch out for, as time is of the essence when dealing with identity theft. The longer you wait to begin the recovery process, the more losses you risk facing. Early warning signs of identity theft can include: 

There are a few things you can do to help protect your identity in the future. 

Identity theft can happen to anyone, and its effects can range from a small annoyance to financial devastation. The best protection is prevention, but if your information is used without your knowledge, we are standing by to help.

Content Provided By Econocheck