How consumers are changing ir behavior to combat ID ft

Almost half of American consumers (48%) think it is at least somewhat likely y will lose money to identity ft in coming year, according to data from a Harris Poll conducted on behalf of AI. survey polled ,006 U.S adults by phone in autumn of 207.

ir inncts may be correct: 143 million U.S. consumers were victi of cybercrime in 207, with losses hitting $9.4 billion.

ll, only three in five adults responding to AI survey (6%) said y had ever looked at ir credit report. Monitoring your credit is an important step in protecting your finances, according to AI’s National Financial Literacy Commission. Consumers can request one free report per year from each of three major credit reporting agencies and review m for unusual activity.

Consumers should also check credit repo associated with ir children’s names, even if ir children are years away from applying for credit, said Neal Stern, , member of AI Financial Literacy Commission.

“Identity ft victi can be any age, and data know that sympto of fraud may go undetected for months or even years when victim is a child, leaving plenty of opportunity before preventive steps are taken,” Stern said.

Eighty-one percent of consumers reported to ir behavior to ward off potenl scammers, including tactics such as:

If you do notice possibly fraudulent activity with your credit card or bank account, it’s important to act quickly, Stern said.

“Federal law protects you from losses over $0 arising from unauthorized use of your credit card, but be sure to notify your credit card issuer immediately if your card is lost or stolen to limit disputed charges that will have to be resolved,” Stern said. “Timely reporting is even more critical for debit c, since your maximum loss can escalate to $00 if you wait more than two days to notify bank.”

If you wait more than 60 days to report a loss, he added, “you may be responsible for all your losses.”

committee also recommends using only secure wireless internet networks. may target unsecure networks to skim personal information, such as passwords or credit card numbers, transmitted over public, unsecure networks such as those found at coffee shops and airpo.

View more advice from AI Financial Literacy Commission on what to do if you’ve been victim of identity ft.

Samiha Khanna is a freelance writer based in Durham, N.C. To comment on this article or to suggest an idea for anor article, email editorial director Ken Tysiac.


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