Manchester, NH -- (SBWIRE) -- 07/28/2016 -- Identity theft is a crime that is no longer foreign to many people from around the world. As a matter of fact, it is usually featured in the news. While this type of crime is popular, misconceptions about how consumers can protect themselves are also swirling around.
Experts reveal the side of identity theft that not many people know about. Fraudsters actually use different ways in committing the crime they specialize in.
There are those who focus on stealing a credit card and use it before the consumer even realizes it. There are also an increasing number of thieves who simply use the stolen information to steal the identity of victims. Information includes email login credentials and online shopping accounts.
In 2014, Javelin Strategy & Research conducted a study and found that in 2013, there were 13.1 million identity-theft cases reported. It has resulted in $18 billion in losses.
It was also found that approximately 28 percent of fraud cases involved a particular identity theft method called account takeover fraud. Fraudsters usually hack accounts, alter settings, and make transactions such as purchases in the name of the victim online.
In 2013, it was found that such a crime accounted for $5 billion fraud losses.
While no one is immune to this type of crime, there are things that consumers need to be aware of to stay ahead of the fraudsters. One is to understand that fraudsters do not need a credit card number to steal the identity of the consumer.
According to Heather Wells, recovery manager at ID experts, which is an identity protection company, it is vital for consumers to lock up pertinent documents at home. This may include pass ports, Social Security cards, birth certificates, and credit cards.
While keeping financial information should be a paramount concern, it is similarly important for consumers to keep their nonfinancial personal information secure, especially online. The truth is that personal information is usually enough for thieves to commit their crime.
Consumers should avoid disclosing their full birthdate on Facebook, telephone number, or home address online. They should also be vigilant about handling snail mails. It is also imperative that they check all their credit card and bank statements every month or even once a week.
There are also RFID credit card blocking sleeves available. These sleeves work by protecting credit and debit cards as well as passports from card skimming devices, which are typically used by thieves. The RFID blocking sleeves can be purchased at amazon.com. (http://www.amazon.com/rfid-blocking-sleeves/dp/B0150T0AI2).
About RFID Vault
RFID Vault is a brand dedicated to protecting your bank without breaking it! Keep your personal information stored on bank cards, credit cards, driver's licenses and passports safe a secure. We are dedicated to providing quality RFID products and personal customer service.
Learn more at http://www.myRFIDvault.com
SOURCE LINK: http://www.creditcards.com/credit-card-news/help/10-things-you-should-know-about-identity-theft-6000.php
MEDIA CONTACT INFORMATION: