Have you ever been a victim of identity theft? If so, you’re not alone — criminals stealing your personal information so they can use your identity is an increasingly unfortunate and prevalent reality. In 2019, 14.4 million consumers worldwide became victims of identity theft. The consequences can be long-lasting and have serious repercussions. While many victims are able to deal with it quickly, some may spend a month or more resolving the issues caused by identity theft. Even if the problems are resolved, the financial loss can be severe. Many victims lose money as a direct consequence of identity theft, and a small percentage of them can lose hundreds or even thousands of dollars. 

Identity theft can take many forms. With financial identity theft, it’s often a case of bank accounts or credit cards being accessed and used illegally. For example, the thief may withdraw cash or max out a credit card. This can have a serious impact on your credit score. Another form of identity theft is when criminals gain access to your personal information and use it illegally — to take out loans or open credit card accounts in your name, for example. 

Fortunately, there are steps you can take to avoid it. Learn what the signs of identity theft look like, how to best protect yourself from fraud and what to do if you become a victim.

Source: Identity Force