ID Theft: Are You the Next Victim?
When it comes to protecting
your identity, maybe you have your head on your shoulders
and maybe you don't. Test yourself to find out.
1)
How much money does the typical victim of identity theft lose?
A
$1,657
B
$950
C
$422
D
$0
Answer: D. More than two-thirds of ID theft
victims didn't lose a dime last year. (Of course, that means some
people did end up out of pocket: The average loss was $422 vs.
$675 in 2004.) Why? Federal law limits your liability -- $50 for
credit cards; $500 for debit cards -- if you report the fraud
within 60 days. And most issuers offer even stronger protections,
guaranteeing that you won't be on the hook for any of the bill.
The real cost to you is time and stress: It takes the average
victim 40 hours of effort to restore his or her good name.
2)
What is the most common way your identity is stolen?
A
Dumpster
diving
B
Stolen
mail
C
Lost
or stolen wallet, checkbook or credit card
Answer:
C. Among victims who could pinpoint the source of ID theft, 30%
blamed a lost or stolen wallet, checkbook or credit card. Dumpster
diving, in which your personal info is lifted from documents you
throw out, made up less than 1% of cases, down from 2.6% in 2004,
as some 70% of people now shred paper files (keep shredding!).
However, in 8% of cases, info is stolen out of mailboxes before
you have a chance to shred. Since credit-card offers make it easy
to open an account in your name, call 888-5-OPTOUT to stop unsolicited
card applications.
3)
What type of identity theft is the most difficult to detect?
A
Fraudulent
accounts opened in your name
B
Charges
to a credit card you already have
C
Hacking
into your checking or savings account
Answer:
A. It takes an average of 152 days for victims to find out that
a new account has been opened in their name. That's because only
a credit report or notice from the lender or a collection agency
will alert you to the new account's existence. Reduce your vulnerability
by regularly checking your credit report -- by law, you're entitled
to a free report from each of the three major credit bureaus once
a year (go to annualcreditreport.com or, if you have trouble getting
onto the site, call 877-322-8228). Your best bet is to stagger
requests, getting a report from a different bureau every four
months.
4)
Identity theft on the Internet is growing.
A
True
B
False
Answer:
B. Online fraud made up 9% of ID theft cases in which the source
was known last year, down from 11.6% in 2004. People who bank
online typically uncover fraud in 22 days vs. more than a month
for paper accounts. You can reduce your susceptibility to online
fraud by using updated anti-spyware and anti-virus software. If
you bank online, you will be even safer by year-end, when all
banks will be required to ask for a secondary piece of identifying
information, in addition to your password, before you can gain
access to your account.
5)
What age group is most susceptible to identity theft?
A
25
to 34
B
35
to 54
C
55
to 64
D
65-plus
Answer: A. Contrary to popular belief,
seniors had the lowest rate of ID theft, while 25- to 34-year-olds
were most at risk. Why? The lifestyle of many Gen X-ers -- going
out often and trading personal information on MySpace.com and
other social networking sites -- creates more opportunity for
identity thieves, says Javelin Strategy & Research, whose
2006 ID theft study supplied the data for this quiz. In cases
where the perpetrator's identity was discovered, for example,
20% were service employees, such as a waiter or cashier. A pity
that someone you think is there to serve you is really out to
con you.
