Identity Theft on the rise affecting over 13 Million

13.1 million people were stricken by identity theft last year in America, reports a study by Javelin Strategy & Research which reveals:

• Many people who don't trust their banks are unwittingly doing things that make crime easier for crooks. This includes not using the bank's protection services such as e-mail alerts.
• Oddly, there are more victims than ever, but the total amount stolen is less. But that hardly matters when you consider that in the past six years, $112 billion have been stolen.
• 18 percent of U.S. identity fraud involving cards was carried out beyond the U.S.
• New-account fraud is being driven by EMV.

Javelin Strategy & Research's Recommendations

• Every account should have a different password. Every password should be long and strong, not containing keyboard sequences or actual words or proper nouns (sorry, this means no Metallica1), and including a mix of characters.
• Consider using a password manager.
• Smartphone protection is a must. This means being vigilant about updates and using all security features offered by the device like passcodes or fingerprint access.
• Sign up for account alerts. Alerts come in different flavors. For instance, you'll be alerted for purchases exceeding a specified limit or occurring outside your state. See if your bank or credit card issuer provides alerts for international transactions.
• Put a freeze on your credit. This will prevent anyone but you from opening an account in your name, and it's cheap to do. But if you unexpectedly find you must open a new line of credit, the freeze can be lifted.
• If you suspect any suspicious activity, jump on it immediately. Any delay in notifying the credit card company or bank can make it harder for them to resolve the problem.

In addition, inspect your credit card statements every month. Do not dismiss tiny charges that you're not familiar with just because they're tiny. Sometimes, crooks will "test the waters" and make miniscule charges to see if they can get away with it. Their intention is to then escalate and ultimately max out the card.