Page 10 - AAA Akron Auto Club – AAA Now! – January/February 2019

MONEY MATTERS
IDENTITY THEFT:
AAA
TM
What is it and What You Can Do About It?
Search “identity theft” on the internet, and you’ll get millions of results. With an overwhelming amount of information available on this
growing crime, it can be tough to get a handle
on how identity theft affects you, and more importantly, what you can do to keep your personal information safe.
What is identity theft?
Identity theft occurs when someone’s personal information is fraudulently obtained and used for financial gain—often years after the original theft. Not only does identity theft invade your privacy, it robs you of your most valuable asset: peace
of mind.
How do thieves steal your identity?
While the most common form of identity theft – 85 percent—involves the illegal acquisition of credit cards and account information, there are many methods thieves use to steal your private information, such as your Social Security number, to commit fraud, including1:
• Data Breaches: A data breach occurs when secure data is wrongly released to or accessed
by unauthorized individuals. Breaches are perpetrated by a single hacker, an organized crime group, or even other governments. Thieves can sometimes wait years after a data breach
to sell or misuse stolen information. In 2016, more than 31 percent of data breach victims experienced identity theft, compared to less than 3 percent of those not notified of a data breach.2
• The Dark Web: Think of the internet as a three- layer cake. Layer one is the public web where leading sites, like Google, reside. The second layer includes non-public sites, such as corporate intranets. The final layer is the Dark Web. The Dark Web is an illegal marketplace where visitors mask their identities to buy and trade someone’s personal information, including passport numbers, birthdates, and more.
• Phishing: Phishing scams attempt to retrieve personal and/or financial information, including computer passwords and credit card details, to defraud or steal someone’s identity. ‘Phishers’ try to convince you to share data, and if successful, use it to defraud you.
• Snail Mail Fraud: Despite digital delivery systems such as electronic bill pay, identity thieves still use mailboxes to steal personal information, including tax information, Social Security and health insurance data.
How many people are affected by
identity theft?
More than 15 million Americans have experienced identity fraud and theft, with $16 billion stolen from their wallets, banking and credit accounts, personal computers, mobile phones, and even social media accounts.3
Although people between the ages of 25-64
experience the highest rate of identity theft, no one
is safe, not even children4. In fact, nearly 1 million
children have been victims of identity theft since
5 2011.
What can you do to prevent identity
theft?
While there’s no way to stop identity theft from happening entirely, there are steps you can take to help prevent it. To get started:
1. Monitor your credit reports: Check your report from all major bureaus—Experian®, Equifax® and, TransUnion®, for fraudulent activity.
2. Monitor your bank accounts: Check for suspicious activity. If you spot something, address it immediately.
3. Secure your accounts: Create a strong password. Even better, make it a passphrase and create a unique login for each of your social media and email accounts.
Bonus tip: For more protection and greater peace of mind, consider enrolling in ProtectMyID from AAA. Fueled by Experian, a global leader in identity security, and built for today’s changing world of increasing threats and data breaches, ProtectMyID helps you take control of, detect and resolve identity theft.
With multiple layers of identity protection available, proactive alerts and robust features like Social Media Monitoring, Identity Alerts, and Dark Web Surveillance, you can choose the level of coverage that works for your life. To take control of your identity and help minimize your risk of becoming a victim, visit AAA.com/IDTheft.
1"Bureau of Justice Statistics. (2015). Victims of Identity Theft, 2014 (NCJ 248991)". Bureau of Justice Statistics.
2Javelin Strategy & Research. (2017) Identity Fraud Hits Record High with 15.4 Million U.S. Victims in 2016". Javelin Strategy.
3Javelin Strategy & Research. (2017) Identity Fraud Hits Record High with 15.4 Million U.S. Victims in 2016". Javelin Strategy.
4"Bureau of Justice Statistics. (2015). Victims of Identity Theft, 2014 (NCJ 248991)". Bureau of Justice Statistics.
5 http://www.idanalytics.com/media/Child-Identity-Fraud-Study.pdf
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