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Data breaches reached shocking figure

By Brian Anderson
Published: Sunday, November 28th, 2010

23According to the Federal Trade Commissioner since 2005 America’s cases of data breaches has now reached a very serious and shocking statistical figure. Today there is more than 540 million data breach cases damaging businesses and consumers all over the nation.

A bulk of 72 percent of this reported total number of incidents which is 393 out of 540 involved cases caused by a breach upshot by virus computer or malware. The actual cost of these data breaches remains unknown and the estimation of how much damage can this breach through identity theft can cause America would reach a billion dollars per year.

Pertinent information about a person’s identity can be retrieved through these breaches and that is all what it takes for offenders to perpetuate their criminal practices. Identity theft is a serious threat for everyone and now that people’s data are just floating around more people are vulnerable of being victims of identity theft. According to records since 2005 there are more than 100 million people who suffered the consequences of being victims of identity theft through a credit reporting con.

 These facts and figures are calling for people to be alarmed. Identity theft is one serious crime that can take everything away from a person. Once the perpetuator of this crime takes hold of any relevant information about a person they can do just so many creative ways to steal money from the person. Thieves can open new accounts. Now that online transaction has gathered popularity among consumers, opening money or credit-related accounts can be processed through the internet. Now what is needed to complete transaction “virtually” are consumer’s personal information. Thus identity thieves can easily accomplish their crime leaving victims with bankruptcies and wrecked credit reputation. The fact that the financial damages caused by this type of fraud are unrecoverable makes situation worse.

For consumers to avoid being preys to problems posted by information breach such as identity theft one important thing to keep in mind is to follow credit report advice of regularly checking credit scores and credit reports. Not everyone across the nation knows what kind of credit reputation their credit score is representing them with thus being a victim of identity fraud cannot be easily realized. If people will get to know their scores and get to review their credit reports they are actually monitoring all the activities happening in their accounts and credit lines. This way they can lessen the chances of being ID theft victims.

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