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Friday, May 21, 2010

ID Theft Victims Spending Less In Cleanup Aftermath

Nearly one-third of all identity theft victims say they are unable to completely clear up damaged credit or criminal records in the aftermath of their identities being abused.  But the good news is they’re spending much less time and money cleaning up the fraud perpetrated against them in their names, according to a newly released report.  Most ID thieves (55 percent) used the stolen identities to open new lines of credit, followed by making purchases on stolen credit and debit cards, 34 percent.

Check fraud increased last year over 2008; 42 percent of the victims say their checks were stolen and their signatures forged, up from 35 percent the previous year.

The ITRC says the bottom line is you can’t completely prevent ID theft.

Posted on 05/21