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Who is more vulnerable to identity theft: your grandmother or an 18-year-old college student?
The answer may surprise you - but you’re not alone. Many have heard the frightening statistics regarding identity theft, including that it's the country's fastest growing crime. But just how knowledgeable are Americans on ways to safeguard themselves from identity thieves?
According to a national survey of 1,000 Americans conducted by the nonprofit Identity Theft Resource Center and Fellowes, Inc., the leading shredder manufacturer, 81 percent of Americans are aware that identity theft can happen at any time and 65 percent are using tools to protect themselves.
Despite this awareness, the survey reveals that misperceptions surrounding identity theft crimes, as well as likely victims, cause 50 percent of Americans to feel vulnerable. In fact, misunderstandings of the crime - everything from whether technology increases your risk for identity theft to how often the crime occurs - can lead to further anxiety. What do you believe about identity theft?
Myth: One of the biggest misperceptions is that Americans believe technology or internet activity makes them more vulnerable to identity fraud. Nearly 40 percent of respondents said identity theft is most likely to occur through online exchanges.
Fact: In reality, online exchanges only represent 9 percent of the crime. The majority of identity fraud occurs through paper documents and stolen information.
Myth: Survey respondents believed that Americans 60 years and older are most vulnerable to the crime.
Fact: Americans vastly overestimate the risk to the elderly and underestimate the risk to the young. In reality, only 8 percent of identity theft complaints involve senior citizens. The most vulnerable group is actually 18- to 29-year-olds.
Myth: Nearly half of respondents believed fewer than 10,000 cases of identity theft are reported each day in the United States, revealing an underestimation of the crime.
Fact: There are more than 24,000 reports of identity fraud every day or one victim every three seconds.
Additionally, it seems Americans underestimate the value of a credit report, as less than half of respondents said they order a current credit report at least once every two years. However, reviewing your credit line via a credit report is one of the most effective ways to ensure that no one is misusing your credit.
"It's alarming to see so much confusion surrounding the crime, especially as it relates to simple preventive actions," says Jay Foley, executive director of the Identity Theft Resource Center. "My first piece of advice is to regularly order a credit report, and regardless of what you think of technology or online identity theft risks, know that the best way to protect yourself is to shred all personal documents with a confetti-cut shredder, including information you don’t believe can be used to steal your identity."
Foley notes that everyday actions - from throwing away "garbage" to carrying personal information in a wallet - can have a profound impact on how vulnerable you may be making yourself to identity theft.
"Everyone should evaluate their everyday actions and habits, consider how it makes them vulnerable to identity theft, and make changes in order to better protect themselves," says Foley.
Additionally, information on the myths and realities of identity theft, guidelines on what to shred or keep, and links to key identity theft organizations are available. You can also enter to win a personal shredder from Fellowes, Inc.
And don't forget, even if grandma is not as vulnerable to the crime as a college student, she should still take the quiz.
A new Web site, www.IDconfidence.org, offers a unique "ID Theft quiz" that tallies an identity theft vulnerability score, compares it to the national average, and provides personalized protection tips based on the user's responses. For each answer, a tip is provided that explains why respondents are vulnerable and suggests how they can change their habits to lessen their vulnerability. - ARA |
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