Travelers Claims Data Reveals Ways Thieves Use Stolen Identities

Travelers revealed 2014 identity fraud claim information from its claim data that highlight the most common ways identity thieves use personal information.

• Thirty-six percent were a result of thieves using existing credit or debit cards.
• Twenty-one percent of claims are related to tax or employment fraud.
• Thirteen percent were because of the opening of new credit cards using stolen personal information.

“Identity theft is a year-round problem, and no one is immune,” said Tim Francis, Enterprise Cyber Lead at Travelers. “Once an identity is stolen and fraud has occurred, the road back to restoring what was yours can be time-consuming and expensive. In addition to simple preventive measures that should be taken, individuals can add insurance to help cover the costs of restoring your identity.”

Source: Travelers