Many Americans Ignorant About ID Theft: Disturbing Statistics

While there are times when ignorance is bliss, that's not the case when it comes to identity theft. Ignorance regarding ID theft (how to protect yourself against it or what to do if you become a victim) can have long-lasting affects on your financial future as well as possibly affecting your criminal record. Despite this fact, many Americans are misinformed about the financial devastation of identity theft as well as the steps required if they become victims, according to a survey by Capital One and Consumer Action. The statistics reported in this survey are quite disturbing.

Some information reported includes that 44% of consumers did not realize that their personal identifying information can be used to apply for a mortgage, and 32% put themselves at risk by carrying their Social Security cards in their wallets. However, the most vulnerable consumers fall in the oldest and youngest age brackets. For instance, 41% of older Americans (70 and over) did not know identity thieves can obtain ID cards with their information while 54% of younger Americans (18 and 19) were unaware of this fact. For more details, this release provides more complete results from the study.

I think I fell somewhere in between those who were ignorant and those who were cautious. I was aware that identity theft existed, but didn't take it seriously until after it happened to me. You don't have to learn the hard way. While I don't recommend living in fear of an identity thief, this crime should not be taken lightly. Consumers should be regularly checking credit reports, monitoring bank and credit card statements, and taking other necessary precautions.