Identity theft can happen to anyone. Since more people are going online to shop, bank, file taxes, etc., there’s an increased risk of savvy thieves stealing the personal information of millions of consumers. Even if you’re careful, a thief may be able to attain your information by hacking into the systems of larger businesses, as millions of people learned last year with the Equifax data breach.
Cyber breaches increased to 1,093 in 2016, up from 780 in 2015, with most of these breaches impacting medical/healthcare organizations, education, and government/military sectors.
As of October 2017, there were 1,056 breaches reported, which exposed more than 171 million records.
According to experts, stolen information can sell for more than $30 per identity on the black market.
However, in time and frustration alone, it’ll cost a victim much more than that. The stolen information allows thieves to open bank accounts and lines of credit, open new credit cards, get a driver’s license in your name, file taxes to steal your tax refund and more. What can you do if you find out your information has been compromised?