#IDTheft Protection – Identity Theft Prevention – Wealth Path IQ
Hello, everyone. My name is Rich and I’m with WealthPathIQ.com. Today we’re going to talk about the identity theft crisis in America. You see our site here on WealthPathIQ.com. If you click on the identity theft tab, we’ll get started.
The nature of identity theft criminals and the way that they operate has changed over the last few years, which is definitely worth noting. This representation here of a criminal behind a computer, a hacker if you will, faceless person in a hoodie is really not far from the way that we view the crisis in America. We’re citing some data from the 2017 Identity Fraud Study released from Javelin Strategy and Research, found that $16 billion was stolen from over 15 million U.S. consumers in 2016, and that number continues to grow year over year. In fact, in the past six years, identity thieves have stolen over $107 billion according to the insurance information institute. Those are staggering numbers. A lot of times if it doesn’t affect us, it seems like an obscure problem, but it really isn’t. Many of us are going to face this and we need a strategy to combat that.
The changes over the last few years really, as the study explains, has to do with the fact that microchip equipped credit cards in 2015 have changed the game a little bit for these criminals. The cards were a lot easier to counterfeit before that. Now with the chip technology, that’s more difficult. What’s happening is these criminals are actually focusing in on a newer kind of identity fraud, which has to do with opening new accounts, credit cards or other financial accounts using a victim’s name and other stolen personal information. It’s less now about counterfeiting a credit card and it’s really more now about stealing social security numbers, names and other personal information in that privacy category.
We have a graph here, which actually will demystify the types of identity theft that afflict us in the country. It breaks down here by government documents, which is a big part of that, over 49%. Credit card fraud is a huge number, almost 16%. Utilities, bank fraud, straight attempted identify theft and loan fraud, employee-related fraud and others. What you’ll notice here is that this category here, this column is actually adding up to more than 100%. The main reason for that is that the percentages are based on a total number of complaints, and they total more than 100% because some victims reported experiencing more than one type of identity theft. It’s also important to note that some of the heavily populated areas in the country like California, Texas, Florida, Illinois, Michigan, all rank in the top 10 for incidences of identity theft nationwide.
So, what are we to do? Wealth Path IQ is dedicated to providing you with an economical way to protect your identity. We’re not going to get into the competitors. I encourage you to take a look at this video here if you’re associated with LifeLock or considering it, but we’re really more interested in explaining to you the offer that we have with our partner, ID Shield. This is going to give you a very economical way to protect your identity on a monthly basis with a variety of different protections that are quite impressive. I encourage you to view the video here. It’s a short video and also, if you have an interest in enrolling in the program, you can click on the tab here and that will send you to our enrollment page here.
What’s great about this particular offer is the company Kroll, which is a very well reputed agency, is licensed here to help restore your identity with private investigators. Kroll is a very well respected national firm and has aligned in a partnership with ID Shield to protect your identity. That’s it for today. We’ll see you soon.