5 Tips to Protect Your Phone From I.D. Theft
NEW YORK (MainStreet) -- Identity fraud thieves are increasingly targeting smartphones as a gateway to grabbing consumers' private financial data.
If you don't act to safeguard your smartphone from I.D. thieves, you could be taking a big risk, but some preparation and a little bit of help from financial services companies are good places to start protecting yourself.
|Mobile banking is on the rise, and that means a new place for fraudsters to get at peoples' financial data.|
According to a report from Javelin Research, about 8.1 million Americans were victimized by identity theft in 2010 to the tune of $37 billion. The average cost per consumer was $631.
Sometimes simply waiting too long to address an I.D. theft is what will really cost you."The longer identity fraud goes undetected, the more expensive and difficult to resolve it tends to be for the consumer. Therefore, it is vital for consumers to monitor their accounts frequently and to partner with their financial institutions to help prevent, detect and resolve fraud," Javelin says in its report. "About half of identity frauds are detected by consumers, and half are detected by third parties (45% vs. 55%)." >>How to Connect to Activities You Love With smartphone use growing by 40% last year from 2010, the potential for increased identity theft activity will rise too. To guard personal data on your smartphone:
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