Warning signs include receiving bills for unknown accounts and being turned down for credit

Nearly 62% of identity theft victims were notified of suspicious activity by a financial services company, according to the Identity Theft Assistance Center (ITAC).

ITAC surveyed 771 victims who used the ITAC free service over a one-month period about how they learned of the crime. Of the 771 victims, 296 (38.4%) said they were notified by their financial services company. Another 180 (23.3%) said they were notified by another financial services company.

"By knowing the warning signs of identity theft, consumers can act more quickly. Our research reinforces the Federal Trade Commission's advice to consumers to minimize the damage by requesting a free copy of your credit report," said ITAC Executive Director Anne Wallace.

"Nearly 10% of the consumers we talked to said they learned they were victims because they received bills that weren't theirs," said Mary Blegen, ITAC Chairman and Senior Vice President of 24-Hour Banking and Financial Sales at U.S. Bank. "That means you might want to look at a bill you don't recognize before you throw it away."

   Below is a breakdown of the 771 cases by number of cases and percentage:

  Contacted by my financial services company           296         38.4%
  Contacted by another financial services company      180         23.3%
  Other (credit purchase denied, stolen purse/wallet,
   during loan application process, checked online
   account, reviewed credit report, burglary,
   contacted bank for general information and was
   informed of activity)                               167         21.7%
  Received a bill that didn't belong to me              76          9.9%
  Call from a collection agency                         29          3.8%
  Turned down for credit                                19          2.5%
  Call from law enforcement                              4          0.5%

About ITAC

The Identity Theft Assistance Center (ITAC) (www.identitytheftassistance.org) is a nonprofit dedicated to fighting identity theft through victim assistance, research and law enforcement partnerships. ITAC has helped thousands of consumers restore their financial identities and is the leading source of verified data on identity theft crime. Recognized internationally for its innovative model, ITAC is sponsored by The Financial Services Roundtable as part of the financial services industry's commitment to fight fraud and identity theft.

Source: Identity Theft Assistance Center

Web site: http://www.identitytheftassistance.org/