What Can Happen to You as a Victim of Identity Theft Facts Figures

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What Can Happen to You as a Victim of Identity Theft: Key Facts & Insights


Summary

Is identity theft really a big deal? Absolutely. Every year, thousands fall victim to this serious crime. Thieves exploit your personal data to commit fraud, damaging your credit in the process. Discover how to safeguard yourself.

Understanding Identity Theft

Identity theft involves stealing your personal information, such as your Social Security number (SSN), credit card details, or driver's license, to commit fraud. This can cause extensive credit damage, taking years to repair and carrying heavy financial and emotional costs.

The Impact of Identity Theft

Identity theft is a significant crime. The Federal Trade Commission lists it as the top consumer complaint. On average, victims spend over $1,000 in repairs and lose around $6,767. According to CBS News, an identity is stolen every 79 seconds, affecting an estimated 750,000 people annually.

Signs You're a Victim

To detect identity theft early, regularly monitor your financial account balances and scrutinize bank and credit card statements for unauthorized transactions. If you don't receive expected bills or receive unfamiliar credit card statements, these could be signs of foul play. Unexpected debt collection calls for items you didn’t purchase is another red flag. Moreover, a sudden drop in your credit score or unexpected loan denials could indicate identity misuse.

Consequences of Identity Theft

Having your identity stolen can lead to:
- Denial of loans, housing, or job opportunities.
- Legal consequences if crimes are committed in your name.

Criminals can:
- Use your credit/debit card numbers for spending sprees.
- Open bogus accounts using your SSN.
- Divert your credit card bills to another address.
- Take out loans in your name.
- Set up services like telephone or internet in your name.
- File bankruptcy under your SSN.
- Use your name if arrested, potentially leading to an arrest warrant for you.

For more information, or to contact the three major credit bureaus, visit [AP Screen](http://www.apscreen.com).

Protecting Yourself

Safeguarding against identity theft requires vigilance. The effort you invest upfront pales in comparison to the time and money needed to restore your identity if it's stolen.

Adopt measures to protect your personal information and stay alert to keep your identity safe.

You can find the original non-AI version of this article here: What Can Happen to You as a Victim of Identity Theft Facts Figures.

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