Freeze Identity Theft in 2008

Identify theft is a pervasive and ever-growing crime that is not going away anytime soon. Here are a few facts about the impact of identity theft in America:

• About 8.3 million Americans (or 3.7% of all adults) were identity theft victims in 2005, according to the FTC.
• Thirty seven percent reported serious problems with debt collectors, lenders, utility companies and even law enforcement as a direct result.
• About 8.4 million Americans became victims in 2006, according to Javelin Research.
• The average fraud amount was about $5,869 per victim in 2006 and the total was $55.7 billion.
• About 1 in 6 households had to pay higher interest rates as a result of the theft and 1 in 9 were denied phone or utility service.

If that doesn’t startle you, check out these statistics:

• Over 215 million data records have been exposed due to security breaches since Feb. 2005.
• The FTC received over 670,000 consumer fraud and identity theft complaints in 2006.

So what will be different in 2008?

Thankfully, credit freezes are now available in all US states. Credit freezes block anyone from taking out a loan of applying for a credit card in your name without your explicit permission. All three major credit bureaus (Experian, Equifax and TransUnion) allow you to freeze your lines of credit, which is a good way to deter identity theft. For more information about freezing you credit visit http://www.FinancialPrivacyNow.org.