Identity theft and fraud has been around since the 90’s and has raked in billion dollars for the criminal industry and although the number of identity theft has declined, you may realize that total cost to Americans have been continuously rising, in the recent years the figures as risen up to $2 billion dollars lost secondary to identity theft.

Why is that? One reason can be attributed to the popularity of America in the global arena, the country sits like a big target for the global market due to the vigorous American consumerism add to that an increasingly plastic financial system, making it an easy prey to those who wish to commit identity theft and so even as technology and industry goes global, unfortunately so does crime, with this is mind it is wise to consider an identity theft shield.

Identity Theft Shield – What It Can Do For You

Just think about it, technology makes us reachable, you can transact with someone in China while you are in America, so even as this sound good, you may also consider that identity theft is as global as well and everyone is getting in on the action. One of the most stand out case involved an Asian gang that run rampant counterfeiting credit cards even using the law on their side. A gang recruit raked in a total of $615,000 in the span of a year.

According to FTC, credit card fraud remains to be the number one culprit in identity theft even as experts predicted that credit cards would cease to exist, it remains a driving force in the financial industry. Leading one to ask, so what’s a credit card holder to do? You should protect yourself and minimize risk of credit card identity theft by getting an identity theft shield

Identity theft shield can help you protect your personal and financial records. It can help you monitor your financial activities and receive and updated credit report, enabling you to notice at the earliest stage if any fraudulent activities are happening under your account. And even if you we’re victimized by identity theft, identity theft shield can help you restore your credit reputation giving you back your good name and reputation. So even if a notorious gang like that of the Asian gang of the 1990’s re-emerge, you can feel safe and secure that even as our world remains to be a plastic economy and we be secured from the protection of an identity theft shield.

Statistics will show that as the world becomes more technology savvy, the easier it becomes for identity theft to occur. In California alone, technology allows for thieves to make an exact replica of your stolen credit card in minutes. The number one cause for the increase in identity theft numbers is credit card counterfeiting, it is best that credit card holders beware and learn the basics of credit fraud protection.

Surfers Beware!

In 2005, The Federal Trade Commission received over 685,000 complaints of identity theft and fraud that translated to a whopping $680 million in losses. Among the complaints 37% accounted for identity theft while the remaining 63% for fraud and in cases of fraud, the internet was utilized 46% of the time, translating to $335 million stolen.  With this statistics in mind, it is wise to invest in credit fraud protection.

The internet despite its many uses is also a haven for identity theft; it is often used as the first line of contact of thieves to potential victims. The following are areas where you can be vulnerable when it comes to online activities.

- Auction websites = 12%
- Offers of foreign money = 8%
- Shop from home or catalog offers = 8%
- Lotteries, sweepstakes, or prizes = 7%
- Computer or Internet service complaints = 5%
- Work from home offers or business opportunities = 2%
- Credit protection or advance fee loan offers = 2%
- Phone Service = 2%

If you do use the internet and shop online, it is wise to consider credit fraud protection for you online activities, this may simply mean ensuring that the website you visit and/or enter your credit information on is secured and protected.  You can also place fraud alert on your credit report, to ensure that your information is not being used without your knowledge.

Victims of identity theft reach about 10 million annually. Aside from the financial damage, around 300 million hours are used to solve problems caused by identity theft.  Statistics show that if you fall prey to identity thieves, you are more likely to spend around $500-$800 to clear your name and restore your credit score and an average of 600 hours to correct mistakes done to your credit rating and around a year or so before the problem is completely fixed.

As we are constantly exposed to identity thieves and thus always at risk and given this statistics, it is wise to have a credit fraud protection system to reduce the risk of getting your identity stolen and lose money, time and effort in to fixing a problem that could have been avoided.