Study: identity fraud is on the rise, but by incident rate is down

Study: identity fraud is on the rise, but by incident rate is down -

The bad news is that the number of identity fraud victims in 08 increased 22%, which includes 9.9 million American adults. The good news is that because consumers and businesses are detecting and resolving fraud more quickly, consumer costs fell $ 718 to $ 496 per incident in 08, a decrease of 31%. The Survey Report 09 identity fraud, which was conducted by Javelin Strategy & Research, also found that the most compromised data is due to low technology methods, such as lost or stolen wallets, checkbooks and credit cards and flow. Another notable trend is that women were 26% more likely to be victims than men in 08, which is awarded to women who make more purchases in person. Note also that 14% of female victims experienced a delay of a year or more before their data has been compromised
Experts suggest the following six steps to prevent fraud of identity:.
1. Be Vigilant -. Regularly monitor your online accounts at the bank and credit card websites, ATMs or by phone and set up alerts that can be sent both online and to a mobile device
2.Keep private personal data - does not provide social security. numbers, passwords, PINs or account numbers over the phone or online unless you initiated the interaction to a verified and trusted location
3.Online is safer than offline - Paperless transactions are conducted in a secure online environment (keep browsers, anti-virus and anti-spyware software updated) reduce the risk of fraud. Instead of paper invoices, statements and checks, replaced by electronic versions
4.Be aware of those around you -. Be aware of those around you when giving financial information by phone or text. Note that more than 10 percent of victims knew their fraud perpetrator
5.Ensure credit and debit cards are protected -. Obtain credit and debit cards from financial institutions that provide zero liability if a card is ever lost, stolen or used without authorization.
6.Learn about identity protection services -. at least, consumers should review their credit report at least once a year, free on AnnualCreditReport.com or through websites of many financial institutions
identity theft insurance
the national Association of insurance Commissioners has a consumer alert about the insurance identity theft, noting that if the policies are available, they do not protect you from becoming a victim of identity theft and does not cover direct monetary losses incurred as a result of identity theft. Rather, they provide you for any costs that may be incurred in recovering your identity, such as hiring a lawyer, taking time from work and administrative costs such as the cost of telephone calls or postage. Before buying, NAIC recommends checking with your current homeowners policy to see if it already includes such coverage. Otherwise NAIC offers suggestions for things to consider before buying.
For more resources on identity fraud , see the Federal Trade Commission's site identity theft.

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