Weak passwords are an easy way for your credit data to be compromised. Secure your important online accounts secure with a strong password and change it often. It’s one of the easiest things you can do to protect against credit & identity fraud.
Did you know that identity thieves will go through your trash looking for documents with social security & credit card numbers? Shredding your sensitive information can help keep your information secure.
You should receive a free copy of your credit report (annualcreditreport.com) & check your accounts regularly for suspicious activity. Also consider signing up for a credit monitoring service that will alert you of changes to your credit reports
Identity thieves acting as legitimate businesses may ask you for credit card numbers, pin numbers or passwords. Be careful who you give this information to over the phone. You never really know who you’re talking to.
Did You Know?
Studies have shown that more cases of identity theft are being committed by the friends and family of the victims. A recent study found that 32% of ID & credit fraud victims found that a relative or family member had stolen their identity. Another study found that more than 18% of ID theft victims had their information stolen by a friend, neighbor or employee.
Credit Fraud Statistics
Credit Card FraudType of Credit Card FraudFraud Complaints by AgeCredit Card Fraud by StatePositive Fraud Facts
Once of the newest innovations credit card thieves have employed is the use of a credit card skimmer
. This little device is placed over the legitimate card reader at an ATM location, gas station pump or other location that accepts credit & debit cards. The device scans, reads and stores the card information and, in some cases, a small camera records the victims pin number as they enter it on the keypad. Once this happens the thief has total control over your credit card and can use it to fraudulently make purchases or withdraw money from your accounts. Be cautious when using these locations that accept credit cards. If you notice anything suspicious about the card reader, report it to the bank or other company immediately.
(source – https://www.statisticbrain.com/credit-card-fraud-statistics)
|Percent of Americans who have been victims of credit card fraud||10 %|
|Percent of Americans who have been victims of debit or ATM card fraud||7 %|
|Median amount reported on credit card fraud||$399|
|Percent of all financial fraud related to credit cards||40 %|
|Total amount of credit card fraud worldwide||$5.55 Billion|
While all indications point to an increase in credit fraud, there are some positives that should be noted. Improvements in credit reporting have lowered the timeframe for resolving most fraud cases. In 2010, the average time for direct resolution with credit card companies was approximately twenty one hours. When compared to previous years, this number is close to 30% lower. Furthermore, fraud victims are selecting to file police reports following credit & identity theft. This alone has more than doubled the number of arrests related to credit fraud cases in the United States.