Identity Theft is The Fastest Growing Crime

FOR IMMEDIATE RELEASE
(Free-Press-Release.com) May 5, 2010 -- Identity theft is not only the fastest growing crime in America according to the Federal Trade Commission (FTC), but also, a recent identity theft study conducted by Experian places the affluent wealthy individuals at the top of the list for identity theft targets.

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Identity Theft is The Fastest Growing Crime

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It was reported in the study that "Affluent Suburbia" or the wealthiest of the identity theft victims living in the suburban neighborhoods are 43% more likely to become identity fraud victims, while the "Upscale America" or the most educated individuals are 22% more likely to fall victims. The individuals in the high identity theft target category travel abroad, play tennis, go skiing, have an interest in cultural arts, own homes and luxury cars, and live in high density population areas.

Identity theft prevention is the most cost effective option for reducing the identity theft risks and related costs. There are many differences between identity fraud and identity theft which must be understood in order to consider the various identity protection options. Identity theft is the act which results in identity fraud when all fraud elements are present. One major difference is that time is a valuable commodity after identity theft occurs but even more precious after fraud is detected as it indicates the advanced phase of the identity theft scheme. Consumers and businesses have the luxury to take their time for preventing identity theft, however, once personal information is stolen and fraud is initiated, time becomes extremely valuable to minimize the damage by quickly detecting and stopping fraud.

More information can be found online at http://www.theimi.org

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