What are the dangers of identity theft?

Identity theft can happen to anyone and can lead to a variety of problems. It can damage your credit and disqualify you from loans, block your tax refund, and empty your bank account – just to name a few outcomes. In the worst cases, it can even result in a false arrest.

What are the dangers of identity theft for victims?

Stress can even take a toll on you physically. For example, a study by the Identity Theft Resource Center found that 41% of identity theft victims experience trouble sleeping, and 29% develop other physical symptoms, including pain, palpitations, sweating, and headaches. 23

What’s wrong with identity theft?

Identity theft is becoming a widespread and growing problem in the United States. An identity thief needs only one thing – a social security number on him – he can decimate a victim’s life and credit score. In the past, current federal laws to combat identity theft have been weak and ineffective.

What Are the 4 Effects of Identity Theft?

69% said they feared for their personal financial security. 60% said they were anxious. 42% stated that they feared for the financial security of their family members. 8% reported having suicidal thoughts. 13

Is Identity Theft a Serious Crime?

Identity theft is a serious crime. This happens when your personal information is stolen and used without your knowledge to commit fraud or other criminal activities. Identity theft can cost you time and money. It can destroy your credit and ruin your reputation.