Fraudsters Never Stop Trying to Steal Your Information So Proper Planning and Precaution Are Essential to Safeguard Your Security

Access to free credit reports and the availability of prevention and resolution resources help consumers fight back against the persistent threat of identity theft

DES MOINES, Iowa--(EON: Enhanced Online News)--Because consumer fraud is a constant threat, it’s important to protect your financial and legal wellness at all times, according to ARAG^®, a global leader of legal insurance whose products provide identity theft prevention and resolution assistance.

“Although the FTC reports identity theft complaints actually declined by five percent last year, you can never let down your guard. It’s important for people to use common sense, be cautious with access to personal information and look to reputable resources that provide reliable information, security and peace of mind.”

“The sun never sets on fraudsters,” says Jim Barone, JD, Senior Vice President at ARAG. “The latest Federal Trade Commission report (www.ftc.gov) shows identity theft is the number one consumer complaint in America for the tenth consecutive year. It represents one out of five (21%) consumer complaints the agency received last year.”

The new FTC report, Consumer Sentinel Network Data Book for January-December 2009, shows credit card fraud was the most common form of reported identity theft (17%) followed by government documents/benefits fraud (16%), phone or utilities fraud (15%) and employment fraud (13%). Identity theft occurs when someone uses your personal identifying information, such as credit card or Social Security number without your permission to commit consumer fraud or other crimes.

Consumer fraud is a top-of-mind concern for many Americans. An ARAG-Russell Research study (www.ARAGgroup.com) – Legal Needs of Today’s Multi-Generational Workforce – last year reported identity theft and credit card theft were among the top 10 legal concerns for Americans. Barone says, “The old adage ‘where there’s smoke there’s fire’ certainly seems true for identity fraud matters as reflected by new data from the FTC and the other research.”

According to new Javelin Strategy and Research data – 2010 Identity Theft Fraud Survey Report – the number of identity fraud victims in the United States increased 12% to 11.1 million adults in 2009, and the total annual fraud amount rose 12.5% to $54 billion. The Javelin report suggests guarding personal or business data and using available identity fraud resources to help consumers reduce or eliminate losses. It says fraud resolution time in 2009 was reduced by 30% to 21 hours thanks to consumer action which contributed to higher arrest, prosecution and conviction rates.

“Fraudsters are ever vigilant,” notes Barone. “Although the FTC reports identity theft complaints actually declined by five percent last year, you can never let down your guard. It’s important for people to use common sense, be cautious with access to personal information and look to reputable resources that provide reliable information, security and peace of mind.”

Barone provides these consumer tips to safeguard personal security:

• Check financial statements and credit card accounts for suspicious activity.
• Monitor online exposure and privacy settings.
• Don’t over share personal information on social media sites.
• Keep phone, email and home contact information private.
• Store your sensitive or little-used information in a secure location.
• Carry only the personal identification that you need.
• Keep your wallet, purse or personal items in a safe place at all times.
• Contact the major consumer reporting companies (Equifax, Experian and TransUnion) each year for a free copy of your credit report.

Barone reminds consumers the FTC has announced that starting April 1, advertising for “free credit reports” will require new disclosures to help consumers avoid confusing “free” offers – which often require consumers to spend money on credit monitoring or other products or services – with the no-strings-attached credit reports available at AnnualCreditReport.com.

ARAG (www.ARAGgroup.com) has an international premium base of almost $2 billion and protects 15.5 million individuals and their families – worldwide. ARAG offers comprehensive legal plans that provide a smart and trusted path for resolving legal issues. This enables people to protect their families, finances and futures.