What Significance does an Identity Theft Protection Service have?
Due to data breaches of major companies and millions of individuals having their personal information stolen, several big companies have taken matters into their own hands by offering consumers tools and help take preventative measures against future infiltrators.
Facts and Figures
- The majority of identity theft incidents (85%) involved the fraudulent use of existing account information, such as credit card or bank account information.
- Government documents/benefits fraud (34%) was the most common form of reported identity theft, followed by credit card fraud (17%), phone or utilities fraud (14%), and bank fraud (8%). Other significant categories of identity theft reported by victims were employment-related fraud (6%) and loan fraud (4%).
- For the purposes of the survey, identity theft was defined to include the following three behaviors:
- unauthorized use or attempted use of existing credit cards
- unauthorized use or attempted use of other existing accounts such as checking accounts
- misuse of personal information to obtain new accounts or loans, or to commit other crimes.
- Victims who had personal information used to open a new account or for other fraudulent purposes were more likely than victims of existing account fraud to experience financial, credit, and relationship problems and severe emotional distress.
Deciding which Identity Theft Monitoring Service to sign up with?
Identity theft protection services typically run around $100 to $250 year, so the fees won’t break your bank. First, you will need to decide whether you want a proactive service which helps scan underground websites for your social security number, credit card numbers and other personal information or just a service that will provide you with your credit report on a quarterly or monthly basis.
How Identity Securely helps you evaluate the services
Our team of specialists review and assess the following services by only considering services that include credit monitoring of public records, commercial databases, and other places that aren’t easy for the average American to monitor themselves. We ensure that the companies on our website provide assistance, advice, and an active role to helping victims in the event that they happen to get their personal information stolen.
Identity Securely has you covered if you’re looking for identity theft services that offer insurance. Insurance can help reimburse lost wages, costs for disputing fraudulent items on your credit report, legal fees, postage, and many other expenses associated with resolution of identity theft.
We have worked diligently to review and evaluate each one of the companies on our website to help make selecting an Identity Theft Protection Service easy and affordable in the event that you fall victim to an unfortunate identity crime.