3 Reasons Why We Are Not Taking Identity Theft Seriously Enough
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Identity Theft is a serious problem, and many of us still do not take it seriously enough.
First, there is a misconception that Identity Theft affects older, “less aware”, individuals than younger ones. In a recent informal weekly survey conducted by GammaWealth Strategy & Research, LLC through www.CreditLock.com, visitors were asked: “Which age group do you think reported most Identity Theft complaints in 2006?” The choices were: A- under 18, B- 18 to 29 C- 30 to 39, D- 40 to 49, E- 50 to 59 F- 60 and over. Ages 60 and over received the most votes at 26%, followed by B,D and E at 17%, then C at 13% and A at 9%
Meanwhile, the Federal Trade Commission recently reported that in 2006, the highest number of actual Identity Theft complaints were reported by consumers aged between 18 and 29, at a staggering 29% of all Identity Theft complaints. As a matter of a fact, those aged over 60 only constituted 10% of all Identity Theft complaints. The second highest age group was those aged between 30 and 39, at 23%, which under the GS&R survey was voted as the second lowest at 13%.
People need to realize that Identity Theft is a very serious problem, affecting mostly those age groups least expected to be affected.
Second, the FTC estimates that in 2006, 62% of all Identity Theft victims did not even notify a police department. Unless such trend is reversed, it is less likely that those committing Identity Theft crimes will be caught. If those committing the crime are not caught, then we will continue to be at risk of becoming victims of Identity Theft.
Third, it is estimated that 60% of Identity Theft complaints where company’s method of initial contact was reported, indicate Internet solicitations (email at 45%, web at 15%). It is our belief that with proper education and preventive measures, such methods can easily be substantially reduced. For example, if individuals took Identity Theft risks very seriously, then they are less likely to respond to a Phishing email (where individuals are enticed to provide personal information such as banking and credit card information, to an entity fraudulently claiming to be a reputable institution). Making an independent phone call, or sending an independent email, to verify the source of a solicitation, can substantially reduce the risks associated with Internet related Identity Theft.
In summary, you can take Identity Theft more seriously, and reduce its associated risks by: 1- being on guard regardless of your age group, 2-reporting the crime in case you are a victim, and 3- using the Internet and emails carefully. There are obviously additional measures that can be taken to reduce the risks of Identity Theft, as posted at www.creditlock.com, or at the FTC’s Identity Theft website.
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