Imagine waking up one day to find that there is a bungalow 5,000 miles away, in your name, being foreclosed. Or getting a call from a debt collection agency nagging you to repay a $200,000 loan that you never took out.
Identity theft is real and is becoming a prevalent problem within the US.
Studies show that around 33% of US adults have experienced some form of identity theft. And the identity fraud tide is growing.
As more people continue to work from home, experts predict that 1 in every 4 people in the US will fall victim to this growing crime trend. But what’s the reason behind the ever-increasing identity theft cases? Keep reading to find out.
1. Chaos Caused by COVID-19
Along with the loss of millions of lives and the widespread economic turmoil, the COVID-19 era has been marked by a slew of financial frauds, including identity theft scams.