3 Identity Theft Myths You Should Avoid

3 Identity Theft Myths You Should Avoid

How well can you protect yourself from being duped by identity thieves? You might be surprised by the answer. Generally, 33 percent of U.S. adults have gone through identity theft, which is double the worldwide average.

The increased availability of information has made everything extremely artificial and hence, easy to manipulate. You might find plenty of statistics about the number of people that suffer losses from identity theft. But how well do you know this crime to avoid falling victim to it? Here’s what you shouldn’t believe about this crime.

Myth #1: Identity Theft Doesn’t Have Any Victims

You might hear this as a justification from the culprit, which it could very well be. But many people think that credit card companies can promptly compensate those who have undergone financial losses.

As a result, the process is believed to be inherently painless, and identity theft is deemed a victimless crime. But the truth is that identity theft can compel you to pay hefty fees and be too time-consuming. Not only can this crime cause substantial financial damage to a company, but it can also eliminate a family’s entire life savings.

Since the resolution process itself takes time, it can be extremely stressful to get your bearings. Believing that identity theft victims are left unscathed from this attack is entirely untrue.

Myth #2: Only Adults are Targeted in Identity Theft

You might think children don’t have credit cards or file taxes, so how could they possibly become victims of identity theft? But the reality is that children are far more likely to fall prey to this crime. Research shows that more than 1 million children were deceived by identity theft in 2017.

Parents usually get their child a social security number after they’re born to either attain medical coverage, open a bank account, or claim the child as a dependent on their income tax return. You can also apply for government services for your children if they have an SSN.

Since children don’t have credit, criminals get ample time to utilize the stolen information until discovered. This information can be easily stolen from the child’s medical or school records.

A worried man looking at his laptop

Myth #3: Avoiding Online Shopping Can Protect Against Identity Theft

It’s all too easy to believe that you can protect your personal information from hackers if you don’t enter your credentials online. But while online data breaches are real, most identity theft occurs offline through licenses and social security cards.

These crimes are also increasingly occurring through physical devices like ATMs and credit card skimmers that capture PINs and card information.

Looking for an expert lawyer to help you out of identity theft? Serving the St. Louis area since 2010, Cook Law, LLC, offers credit report errors, background check mistakes, bankruptcy check errors, debt harassment, and more! Schedule a free consultation today with Attorney Matthew Cook to correct any misinformation that has affected your good name!

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