More than one in five Americans were victims of identity theft or attempted identity theft last year, according to a new report from the American Institute of CPAs.
It’s no wonder then that half of U.S. adults believe it’s likely that they’ll suffer some financial loss in the next year due to identity theft.
Related: 7 Easy Ways to Protect Yourself from Identity Theft
Among those who were victims of ID theft last year, 93 percent took new steps to combat the crooks. More than 70 percent contacted their credit or debit company to set up additional protections, and half increased their use of cash or checks. Other common steps include eliminating or decreasing online transactions and freezing credit.
If you are the victim of ID theft, you should report it to the Federal Trade Commission, your local police department and credit reporting agencies, according to AICPA.
To prevent ID theft, AICPA recommends checking your and your children’s credit report every year, accepting free ID theft protection if offered by a credit or debit card company, checking your account balance daily, and using strong passwords and changing them frequently.
