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What Is The Role Of Credit Protection In Preventing Identity Theft?

People are aware that credit card fraud and identity theft exist. Surprisingly, thousands of people from all walks of life still get victimized by crimes related to ID theft each year. The Federal Trade Commission has issued a public warning against individuals, groups and agencies who may disguise themselves as legitimate financial resource when in fact, they are syndicated identity thieves.

People are aware that credit card fraud and identity theft exist.

Surprisingly, thousands of people from all walks of life still get victimized by crimes related to ID theft each year. The Federal Trade Commission has issued a public warning against individuals, groups and agencies who may disguise themselves as legitimate financial resource when in fact, they are syndicated identity thieves.

Your Identity is at Risk

The fact is, no one is exempted from the risk of ID theft. Scammers and thieves are discovering new and cunning ways to steal valuable information from people. With the popularity of e-commerce or internet marketing, ID thieves use technology to their advantage.

Consumers are not the only ones in danger. Even business owners and large companies are exposed to the dangers of fraud and identity theft. Do you have an online shop? If yes, then you should be more vigilant as you and your customers can be victimized easily. Accepting credit card payments is a very serious responsibility.

Protection from ID theft

Is there a way to protect yourself against identity theft? Can you avail of an identity security service that can guarantee your protection? The good news is, you can take certain precautions to lessen the risk.

Major credit reporting companies offer credit protection services by monitoring the activity in your credit report. This way, the owner of the credit report will be immediately notified when someone tries to open for a new account or whenever new bills are charged to your credit cards.

There are also credit protection companies that you consumers and business owners can turn to for credit monitoring. Identity thieves usually use personal information to open new accounts under another person’s name. By availing a credit protection service, the transaction will not be completed unless the real account owner gives his/her permission.

If no permission is granted, the transaction will be considered as unauthorized and therefore will not be approved. In case thieves try to use your credit card information for making purchases, the true credit card holder will be notified about the new charges. In case these charges were unauthorized, the real account holder can dispute and the credit card company can cancel the charges right away.

Is credit protection service free? Generally, this service comes with a fee. However, despite the costs, consumers and entrepreneurs are encouraged to take the extra step in protecting their accounts and Identity. Business owners who have employees must apply for credit protection to safeguard their personal accounts as well as their employees, customers and the company itself. future.

About the author

Shelly Evans

Shelly Evans is a freelance writer and loan consultant. She specialize in writing articles about obtaining financing despite having bad credit. She has more than 16 years in consumer credit and collections and 4 years in business financing.

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