Identity Theft Survey Results: Consumers Need More Education and Help

A national survey by Experian, the world’s leading global information services company, revealed that not only is America’s collective guard down, but people feel they are at a disadvantage when it comes to identity theft. The survey results coincide with Experian’s national launch of IdentityWorks^SM, a comprehensive set of identity theft protection products offering consumers a powerful and user-friendly array of features, including Experian CreditLock and extensive dark web monitoring.

IdentityWorks helps consumers recognize potential identity fraud and respond to it, arming them with credit monitoring and alerts, and credit reports and scores — which are often the first indicators of identity theft and fraud. This new product extends well beyond credit information to include dark web monitoring and alerts, and noncredit transaction monitoring (bank account, Social Security number, change of address, etc.) to detect when a consumer’s personal information is actively marketed on the web or abused in noncredit transactions. IdentityWorks also includes Experian CreditLock, giving consumers real-time access control to their Experian credit file. In addition to the expertise and assistance of fraud resolution specialists, the product also provides the peace of mind of up to $1 million in identity theft insurance.

Key research findings

• Only half (49 percent) of respondents feel they are likely to become a victim of identity theft; of those, 57 percent have house hold income of $100,00 or more and 45 percent have house hold income of less than $50,000.
• A significant majority of respondents (72 percent) think thieves are only interested in “wealthy people’s identities.”
• The number one perceived identity theft threat: data breaches (number two: phishing emails).
• It’s not uncommon for people to search for themselves online to see if anyone else is using their identity (26 percent).
• Bankcard monitoring and credit report monitoring were rated highest as “helpful” when it comes to identity theft (58 percent and 55 percent, respectively).
• Identity theft is familiar to most, with 52 percent of respondents having been victims or knowing someone who has.
• Identity theft victims acknowledged negative impacts to short- and long-term financial goals (37 percent and 27 percent, respectively).
• Of those victimized by identity theft while traveling, 55 percent stated it took from weeks to more than a year to resolve issues related to identity fraud.

For information regarding identity protection and dealing with fraud, as well as more details on this survey, visit the Experian Credit Education blog. Consider enrolling in a dark web and credit monitoring product such as Experian IdentityWorks.

Tips to help monitor for fraud and protect personal information

• Check your credit report for accuracy. You can get a free report from each credit bureau annually at annualcreditreport.com.
• Consider an identity protection product like Experian IdentityWorks to help monitor your financial accounts and credit report.
• Password-protect your phone. Your phone provides access to sensitive information and accounts. Set a unique password to unlock the device, and enable remote finding and wiping software to track the phone or destroy the data if it’s lost or stolen.
• Use a password manager to create strong passwords for online accounts, and change them regularly.
• Don’t access financial information or shop online using public Wi-Fi or an unsecured network.
• Be careful about what personal information you share online (e.g., social networks).