Identity Theft and Identity Fraud: A Large and Growing Risk

publication date: Jun 11, 2012
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Hucksters and thieves are often several steps ahead of law enforcement. Eventually, some of the bad guys get caught, but many don't, and those who do get nabbed often go back to their unsavory ways after penalties and some jail time.

Crooks might access one of your accounts; in other cases, the criminal activity may develop with someone opening an account (such as a credit card) using someone's stolen personal information. Victims of identity theft can suffer trashed credit reports, reduced ability to qualify for loans and even jobs (with employers who check credit reports), out-of-pocket costs and losses, and dozens of hours of time to clean up the mess and clear their credit record and name.

Unfortunately, identity theft is hardly the only way to be taken to the cleaners by crooks. All sorts of scamsters hatch schemes to separate you from your money.

Here's my best advice to keep yourself from falling prey to identity theft and unnecessarily losing money.

 

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Copyright Eric Tyson, 2008 - 2023 all rights reserved.

Eric Tyson is the only best-selling personal finance author who has an extensive background as an hourly-based financial advisor and who does not accept speaking fees, endorsement deals or fees of any type from companies in the financial services industry or product or service providers recommended in his articles, books and his publications.


 
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