These days, many of us bank, communicate with healthcare providers and insurance companies, perform financial transactions, and shop via the Internet. This is convenient, but it also can put your personal information at risk if you're not careful.
Fact: According to a 2020 report, about 12% of phone theft lead to fraudulent charges and 9% to identity theft.
Top Five Types of Identity Theft, 2019 (1)
Number of reports | Percent of total top five | |
Credit card fraud—new accounts | 246,763 | 45.70% |
Miscellaneous identity theft (2) | 166,875 | 30.9 |
Mobile telephone—new accounts | 44,208 | 8.2 |
Business or personal loan | 43,919 | 8.1 |
Auto loan or lease | 38,561 | 7.1 |
Total, top five | 540,326 | 100.00% |
(1) Consumers can report multiple types of identity theft. In 2019, 18 percent of identity theft reports included more than one type of identity theft.
(2) Includes online shopping and payment account fraud, email and social media fraud, and medical services, insurance and securities account fraud, and other identity theft.
Source: Federal Trade Commission, Consumer Sentinel Network.
Consider installing security software on your mobile device, especially if you use it to store, access, and transmit personally identifying information. Be cautious, too, about using apps for shopping, banking, investing, and other transactions. Ensure your information is protected with strong passwords, and consider subscribing to a service that will automatically "wipe" your device if it is misplaced or stolen.
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