I equate IDTheft to airplane crashes. Rare but the result is devastating on a large scale.
“I equate IDTheft to airplane crashes. Rare but the result is devastating on a large scale.”
ID Theft is common and affects millions of Americans each year.
In February 2007, Javelin Strategy and Research released its 2007 Identity Fraud Survey Report. The report is issued as a longitudinal update to previous Javelin Identity Fraud Survey reports and the Federal Trade Commission’s (FTC) 2003 Identity Theft Survey Report.
Survey findings Include:
* The number of US adult victims of identity fraud decreased from 10.1 million in 2003 and 9.3 million in 2005 to 8.4 million in 2007.
* Total one year fraud amount decreased from $55.7 billion in 2006 to $49.3 billion in 2007.
* The mean fraud amount per fraud victim decreased from $6,278 in 2006 to $5,720 in 2007.
* The mean resolution time was at a high of 40 hours per victim in 2006 and was reduced in 2007 to 25 hours per victim. The median resolution time has remained the same for each Survey year at 5 hours per victim.
No, it’s a hell of a lot more common than that. My daughter worked at a bank during tax season, investigating tax refund loans. She says it’s so easy to do & so prevalent that she very carefully monitors all of her financial account very frequently.
Like most things, LifeLock may be oversold in a sense, but it does provide a service that for some is reasonable. Not everyone wants to be concerned with doing the fraud alert renewals regularly. And they will provide useful assistance in dealing with a theft incident. For some people it is worth $10 a month to have that done for them.