Do you have identity theft protection?

Do you know 11 million people were affected by identity theft last year? It continues to be the number one crime in the US. An identity is stolen every 3 seconds, and you could be next.

You may be thinking – this would never happen to me. However, with the growing cyberworld, it’s becoming an increasing problem. You wouldn’t believe the things people do with others’ identities. Here are a few instances and how it can play out:

Andrea Harris-Frazier – Margot Somerville lost her wallet on a trolley. Two years later she was arrested. Andrea Harris-Frazier had defrauded several banks—using Somerville’s identity—out of tens of thousands of dollars. The real crook was caught.

Lara Love and David Jackson – This California couple one day began tapping into a neighbor’s wireless Internet router. This led to them raiding the neighbors’ personal data. Thirty victims were affected ultimately by the time this pair was busted.

Abraham Abdallah – A busboy named Abraham Abdallah got into the bank accounts of Steven Spielberg and other famous people after tricking his victims via computer, getting sufficient data to fake being their financial advisors—then calling their banks…and you know the rest.

Phillip Cummings – This man worked for a software company and sold customers’ credit card reports to a Nigerian ID theft ring for $30 each—30,000 times.

Do you have identity theft protection?

Phishing Schemes
The big thing recently have been phishing e-mails, mainly people pretending to be your bank. If you don’t know what phishing is, it’s the attempt to acquire sensitive information such as usernames, passwords, and credit card details (and sometimes, indirectly, money), often for malicious reasons, by masquerading as a trustworthy entity in an electronic communication.

It’s not always easy to detect when someone is pretending to be your bank especially if they’re using the bank’s exact logo and e-mail scheme. However, you should know that your bank would never ask you to provide identifying information via e-mail. To be safe, you should never give personal information electronically or over the phone.

Tax-Refund Fraud
Phishing is not the only big identity theft scheme. As a matter of fact, tax-refund fraud is expected to soar again this tax season and will hit a whopping $21 billion by end of 2016, from just $6.5 billion two years ago.

Here are the aggregated numbers from 2014:

Average number of U.S. identity fraud victims annually: 12,157,400

Total financial loss attributed to identity theft in 2014: $26,350,000,000

Percent of Reported Identity Thefts by Type of Fraud Percent Reported:
Misuse of Existing Credit Card 64.1%
Misuse of Other Existing Bank Account 35%
Misuse of Personal Information 14.2%

Get protected – it’s worth it!

If you don’t have identity theft protection, I’d highly recommend it. It’s worth the small cost – and I don’t say this for many things. ?

My husband and I use IdentityForce. It’s rated in the top three out of hundreds of identity theft protection companies.

IdentityForce excels in the following areas and even has Lost Wallet Assistance:

• Price: Monthly prices range between $12.95 – $19.95
• Comprehensive Identity Protection: Credit Monitoring, Internet Scanning, Legal Protection, and Analytical System
• Complete Identity Recovery Services: Financial, Medical, Tax, and Criminal
• Valuable Insurance Quality: $1 Million amount through AIG (if case is reported within 90 days)
• Credit Monitoring: Available through Equifax, Experian, and TransUnion
• Better Business Bureau Rating: A+

It offers its services as a government-approved General Services Administration (GSA) Provider, meaning its products and services have been approved by the United States Government. IdentityForce contracts with various government agencies to respond to data breaches including the Army, Navy, FBI and the U.S. Department of Homeland Security.

I like this company for its reputation but it’s also one of the most competitively priced for what they offer. ??

Click this link to get a 14 day free trial plus a 17% discount. Don’t leave yourself or your family unprotected.

Granted, this wasn’t exactly a money saving tip but it is risk reduction which in the end is the same thing. ?

{Please note that the above links are affiliate links. However, I would never recommend a product that I don’t personally use and like. I have done the research and like it best for my own reasons but feel free to do your own research. The whole point of this post is to encourage you to protect yourself by getting identity theft protection.}

About Kaz

I’m a career Mom who loves to help people improve their finances and health, my two passions. I’m also an avid runner and reader. CPA and MBA

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