Consequences of Identity Fraud
In most parts of the world, identity fraud is the fastest growing offence. Yet, in the USA, a longitudinal 2005 study by Javelin Strategy & Research showed that the crime had decreased since a 2003 study from the Federal Trade Commission was released in 2003. The most current US Javelin data also showed that 9.3 million persons, being 4.25% of all adults, are victims of identity fraud on a yearly basis. In the United Kingdom in 2005 the consumer group Which issued a report stating that one in four people had been the victim of identity fraud, or knew someone who had been a victim.
Precautions against Identity Fraud
Rigorous research has shown that the following methods will be most effective at preventing identity theft or fraud:
Freeze your credit, if available in your state. With a credit freeze, no one can open any form of credit in your name.
Request your own credit report each year and check the reports for inaccuracies and new lines of credit issued that you did not request.
Minimize the use of mail for sending or receiving financial documents, checks, and have your name removed from junk mail...
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