Nearly 62% of identity theft victims were notified of suspicious activity by a financial services company, according to the Identity Theft Assistance Center (ITAC).
ITAC surveyed 771 victims who used the ITAC free service over a one-month period about how they learned of the crime. Of the 771 victims, 296 (38.4%) said they were notified by their financial services company. Another 180 (23.3%) said they were notified by another financial services company.
“By knowing the warning signs of identity theft, consumers can act more quickly. Our research reinforces the Federal Trade Commission’s advice to consumers to minimize the damage by requesting a free copy of your credit report,” said ITAC Executive Director Anne Wallace.
“Nearly 10% of the consumers we talked to said they learned they were victims because they received bills that weren’t theirs,” said Mary Blegen, ITAC Chairman and Senior Vice President of 24-Hour Banking and Financial Sales at U.S. Bank. “That means you might want to look at a bill you don’t recognize before you throw it away.”
Below is a breakdown of the 771 cases by number of cases and percentage:
Contacted by my financial services company 296 38.4%
Contacted by another financial services company 180 23.3%
Other (credit purchase denied, stolen purse/wallet,
during loan application process, checked online
account, reviewed credit report, burglary,
contacted bank for general information and was
informed of activity) 167 21.7%
Received a bill that didn’t belong to me 76 9.9%
Call from a collection agency 29 3.8%
Turned down for credit 19 2.5%
Call from law enforcement 4 0.5%
The Identity Theft Assistance Center (ITAC) (http://www.identitytheftassistance.org) is a nonprofit dedicated to fighting identity theft through victim assistance, research and law enforcement partnerships. ITAC has helped thousands of consumers restore their financial identities and is the leading source of verified data on identity theft crime. Recognized internationally for its innovative model, ITAC is sponsored by The Financial Services Roundtable as part of the financial services industry’s commitment to fight fraud and identity theft. Available Topic Expert(s): For information on the listed expert(s), click appropriate link. Anne Wallace http://profnet.prnewswire.com/Subscriber/ExpertProfile.aspx?ei=33741