ID Theft is Painful

What would you endure to avoid identity theft?

Each week, Consolidated Credit searches for financial research that can help you deal with your debt and budget. This week…

The interesting study

Feedzai, an online security firm for businesses, decided to ask some amusing questions about a serious topic: identity theft. In 2014, the federal government estimated 7 percent of all Americans older than 16 have fallen victim to “at least one incident of identity theft.” Feedzai wanted to know more.

 

The big (and fun) result

ID theft is such a miserable experience, 44 percent of those surveyed would rather have a hangover – and 18 percent would rather suffer a broken bone. Even more drastic: 9 percent would prefer to get evicted. And worst of all, 12 percent would rather “be cheated on by a significant other.”

The fascinating details

In this presidential election year, there’s a lot of talk about trusting the government, and whether government should run more like a private business. Interestingly, more Americans trust the government with their personal information than trust “big corporations” – by a margin of 25 percent to 1 percent.

What do Americans most fear when it comes to identity theft?

Just under half (42 percent) of Americans are most afraid of their social security number being stolen by a hacker, followed by banking login information (28 percent) and credit card information (15 percent).

What you can do

Consolidated Credit has created an easy-to-follow list of tips for protecting your personal data. Check out Taking Steps to Avoid and Address Identity Theft.