Background of Identity Theft
The Beginnings of identity theft were small and only affected very few people in largely concentrated areas. However, today due to the information superhighway, it is easier than ever to have your information fall into the wrong hands.
It used to be small time criminals trying to make a fast buck, but today, thanks to technology and people’s carelessness it is happening more than ever before, and we anticipate a tremendous increase in this type of crime activity in the future. When a criminal can simply type in your name on a few key websites and have access to all of your personal information, it is very simple for them to simply pick a name and steal the identity. But wait it may not even be your identity but potentially your child’s identity!
We take this subject very seriously because as sworn police officers we see the reports and deal with this on a DAILY basis. This is nothing you want to take lightly. Due to budget constraints many agencies across the country do not have the man power to deal with this rising epidemic.
Due to the rise in identity theft, US Privacy Associates is very proactive in working with lobbyist and government officials to try and enact laws that could protect consumers more effectively. This is a very difficult undertaking due to the billions of dollars made annually from the gathering and selling of data.
We encourage you to get informed and have a voice in the matter. We will be sharing with you when you can participate in having a voice in protecting your identity and the identity of the ones you love.
The time people spend upon having their ID stolen
Victims spend from as little as 5 hours to as many as 5,000 hours repairing the damages caused through identity theft. You certainly don’t want to spend your time fixing what you can prevent. The National average is about 500 hours.
Remember, having your Social Security Number stolen can expose you to having a lot more time spent on the process.
How Identity Theft Information is Used
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More than 30% of the time the information is used to commit check fraud.
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More than 25% of the time the information is used to purchase a mobile phone services.
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More than 65% of the time the information is used to open up new lines of credit or credit cards.
The Real Cost of Identity Theft
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The estimates are that over $200 Billion dollars a year are spent by businesses worldwide due to identity theft. The average cost for an individual business can be as much as $15,000 or more.
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Consumers who are victims lose as much as $14,000 in income dealing with identity theft.
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Consumers who are victims will spend from $800 to $1,300 attempting to deal with their identity theft problems.
The Cost of Identity Theft can be Emotional as well as Practical
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Roughly 45% of all identity theft victims are in denial of the situation.
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Roughly 85% of all identity theft victims experience rage and anger.
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Roughly 40% of all identity theft victims demonstrate a reluctance to trust people again due to their experience.
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Roughly 60% of identity theft victims feel as they are not protected by the police.
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Roughly 19% of all identity theft victims end up with higher interest rates on their cards and end up paying higher insurance premiums.
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Roughly 10% of all identity theft victims experience trouble in landing a new or better job.
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Roughly 45% of all identity theft victims will experience trouble in being approved for a loan.
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Roughly 40% of identity theft victims will experience family stress and conflict due to their experience.
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Roughly 70% will experience tremendous difficulty in removing the negative information off their record.
Characteristics of an Identity Thief and How They are Related to the Victims
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Reports show that more than 40% of the crimes are committed by someone known to them.
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In cases with Children’s identity being stolen, the most common perpetrator is one of the parents.
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As many as 25% of the victims believe the theft has occurred due to a business relationship that has access to their personal information.
