Identity theft impacted over one million people in the United States in 2023, resulting in nationwide losses exceeding $10 billion. Victims of identity theft see an average direct loss of $1,100, though some cases may see numbers much higher than that. The financial impact isn’t the only cost of this crime, though. Individuals can expect to spend around 6 months and as many as 100-200 hours on the resolution and recovery of their stolen identity and the resulting fraud.
With one in every three Americans affected, it may be time to consider preparing for identity theft as an eventuality. Unsure where to start or what to do next if you’ve recently had your identity stolen? Success stories and advice from people who have resolved their own experiences with identity theft can provide valuable insights.
One inspiring tale of triumph comes from an Ohio woman, under the pseudonym Zina Wilson, who took it upon herself to trap a serial identity theft scammer. Wilson’s dogged sleuthing over 18 months led to the scammer being behind bars, held on forgery charges related to a scheme to live a life of luxury by stealing the identity of unsuspecting victims.
Despite the challenges of identity theft and the struggles law enforcement faces in keeping pace with perpetrators, prevention and quick action are key to protecting yourself. Reacting quickly and thoroughly in the event of fraud can help mitigate the long-term impact to your finances and credit, and hopefully begin to restore peace of mind.
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