Identity theft. We've all heard of it, but do we really understand how serious and prevalent it actually is? Believe it or not, identity theft is the fastest-growing crime in the US, according to the National Crime Prevention Council. As a matter of fact, almost $50 billion dollars was stolen via identity theft in 2006 alone. Its not just money that is lost when identity theft is perpetrated, however, it's time as well. The mean resolution time is at an all time high. It takes approximately 40 hours per victim to resolve the crime itself, but over 600 hours getting his or her finances straight, according the Identity Theft Resource Center.
This crime seems very far away and anonymous, but, although the majority of identity theft perpetrators are strangers, over 30% are acquainted with the victim. Here are the numbers; 13% of perpetrators are employees of victims, 11% are the victim's relatives, 10% are friends or roommates, 5% are co-workers, 4% are former spouses or significant others, and 2% are caregivers of the elderly or disabled. These figures really bring home the seriousness and inevitability of this insidious crime.
The statistics tell the story, and the story is a frightening one - but what can you do to protect yourself from this growing crime? The following are 20 of the best methods to combat identity theft:
1. Get a shredder: There are many models and types available at great values. They should be used to destroy all-important papers, but most particularly, pre- approved credit applications received in the mail. Credit card receipts should also be shredded every month.