ID Theft Protection: Identity Safeguards Service
Imagine working hard for years to be able to buy a new home. You've saved the down payment, you've done all the calculations, and your credit is spotless—or so you think. Now imagine being denied the loan because your credit report is riddled with late payments, delinquent loans, collection accounts and dozens of maxed-out credit cards—none of which are yours. Welcome to the nighmarish world of identity theft.
The statistics are staggering
With more than 27 million cases reported since 1997, identity theft is now the fastest growing crime in America. In a single year, identity theft cost Americans $5 billion—or $500 per man, woman and child in the United States. Over that same one-year period, businesses lost an estimated $48 billion from fraudulent charges. This rapidly growing crime also cost employers thousands in lost productivity, as the average victim spends 30 hours and $1500 repairing their credit. In some cases, the victim may even be arrested by mistake. An on average, it takes someone a full 12 months to discover that their identity has been stolen.
The why and how of identity theft
The motivating force behind identity theft is simple: Money, and in most cases, it's money to buy narcotics. Thieves obtain personal information by stealing mail, going through garbage cans, taking receipts from ATMs, stealing wallets and so on. Once they have someone's personal information (social security number, mother's maiden name, date of birth), they can open credits cards, buy cars, apply for loans, establish utility service and more—turning someone's good credit into their illegal profit. And there have been plenty of stories in the news lately about identity theft on a much larger scale. When sophisticated identity theives steal corporate computer files, thousands of credit card customers can suddenly find their personal information compromised.
Identity Safegards offers a solution
Identity Safeguards is an Oregon-based company that provides comprehensive, personalized identity theft protection and recovery services. To help prevent theft, Identity Safeguards offers credit monitoring and fraud prevention education that alerts clients to changes in their credit. Once enrolled in the program, participants take a "protection test," the answers to which are used to create a customized identity theft protection plan. Their services are designed to help individuals protect themselves against identity theft and recover quickly if victimized. If a client suspects they have been a victim of identity theft, they call Identity Safeguards immediately. Rather than receive a do-it-yourself kit, they are connected directly to a Recovery Advocate who reviews their situation and walks them through the steps they need to take. To aid in prosecution, Identity Safeguards works proactively with law enforcement through an established network of investigators, helping to organize data and expedite convictions—a benefit for both individuals and financial institutions.
For more information, visit http://www.identitysafeguards.com.
