Identity Theft: What Statistics Actually Reveal To You

In recent years, identity theft has been a widespread problem in the United States and almost anywhere

. Statistics show that it still continues to rise affecting almost 10 millions of people. The prevalence is alarming. Although the figure is alarming, people are still not aware of which is the most committed kind of theft. Study also reveals that there are 7 types of identity theft being carried out by criminals.

Credit card fraud accounts the highest theft being done, with 26%. This might be attributed to the presence of computers. Computer makes this crime easier because personal data can be access from it. For instance, if an internet shopper pays via internet; her personal data can be extracted from there if the computer is not secured.

Utilities fraud is next to credit card fraud. This type of identity theft uses the name of someone who does not live in the address to open for utility services like gas, electricity and water. If the residents of the house have credit report that is not good, then they resort to this kind of fraud. Parents can use the name of their children too.

Bank fraud comes in many forms. This includes check theft where a person is going to steal other's check, changing the budget of the check, and ATM pass code.

Employment fraud is the fourth most common identity theft. Criminals who cannot apply because of bad credit report steals the SSN of others to apply for a job they wants.

Loan fraud accounts for 5%. This is when someone applies for a mortgage or loan using your name. This occurs because financial institution is not strict with the credit identity check which is evident in accepting loan applications even the SSN and name of the applicant does not tally.

The least being 9% is the government fraud. This includes tax, social security, and driver's license fraud. All of which when lost or taken by identity thieves can be used in many ways to gain money, properties or jewelries.

Other frauds related to this crime accounts a little higher than government fraud which is 13%.

Statistics also reveals that 38% to 48% of victims learn their identity being stolen after 3 months and some may discover it even longer than 3 months.

Since identity theft is not confined to one aspect alone, people should take note of the statistics on it seriously. Knowing the different types of it may also help you to avoid it more effectively. Therefore, do not forget to always be adept on how identity theft is actually done.

by: Leo Chu

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