Most people with low credit scores do not believe that they need  to be concerned with identity theft. This is a huge misconception. In February, the Federal Trade Commission released its annual report. Identity theft was the number one consumer complaint. Last year 9.9 million adults in the United States were victims of identity theft, costing consumers approximately $48 billion over last year.

What many do not realize that Identity Theft is not just a financial crime. In fact, only about 20 percent is related to financial transactions. There is in fact five other forms of identity theft that can affect anyone no matter what their credit rating may be. ID thieves aren’t limited by your credit. ID thieves can obtain your social security number and gain employment and not pay taxes. Who do you thing the IRS will come looking for? This is just one example of the damage an ID thief can do, there are many more.

Tags: banking, credit, identity theft

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