The Bank of Elk River serves the financial needs of individuals and businesses in Elk River, Otsego, and Zimmerman Minnesota.
Generations Still Ignorant on ID Theft
The older and younger generations finally have something in common: they are most susceptible to identity theft and the least knowledgeable about the extent of damage it can cause, according to a new study by Capital One and Consumer Action.
For example, the study found that 43% of Americans aged 70 and above and 44% of Americans age 18 to 19 carry their Social Security cards in their wallets. That compares to an overall average of about 32% of Americans who carry their Social Security cards. Also, 55% of older Americans and 75% of younger Americans do not realize that identity thieves can use the data they steal to obtain a mortgage. That compares to 44% of all consumers who also do not realize a mortgage can be obtained.
Overall, the survey found that 93% of Americans are well aware of the crime of identity theft, but many don't know how the information can be used or what to do about it. For example, 32% don't know that thieves can obtain a driver's license or ID card with the information. Forty-five percent of Americans incorrectly believe that victims of identity theft should obtain a new Social Security Number.
The survey by Braun Research polled more than a thousand adults.
This article first appeared in Bankers' Hotline Newsletter, published 12 times a year by Bankers' Hotline, The Monthly Resource for Branches and Operstions (www.bankersonline.com/bin/bhhome.html) Copyright © 2007 Bankers Hotline.