Identity theft is happening everywhere. Data from retail stores, hotels, banks and other businesses are being stolen and misused—and data theft scams are likely to increase as the holiday season approaches, according to the Insurance Information Institute.
Identity fraud is on the rise for the second year in a row, affecting more than 13 million consumers in 2013, according to the Federal Trade Commission. Consumers suffered total fraud losses of more $18 billion, averaging $2,294 per incident, and more than 11 hours trying to resolve the average case.
October is National Cyber Security Awareness Month, a reminder for consumers to review their bank statements and credit card bills to confirm that all the transactions listed are legitimate. Individuals should also be vigilant when using their smartphones, tablets and other devices that store personal information digitally.
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