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Identity Theft

Identity theft is now one of the fastest growing crimes in the United States.

To give you an idea of the scope of the problem:

  • There were 10 million victims of identity theft in 2008 in the United States (Javelin Strategy and Research, 2009).
  • 1 in every 10 U.S. consumers has already been victimized by identity theft (Javelin Strategy and Research, 2009).
  • Roughly 50% of victims experience the misuse of existing bank accounts rather than existing credit card accounts.
  • 38-48% of victims find out about the identity theft within 3 months of it starting
  • 9-18% of victims take 4 years or longer to discover that they are victims of identity theft
  • Those households with incomes higher than $70,000 were twice as likely to experience identity theft than those with salaries under $50,000 (U.S. DOJ, 2005).

TEJ Agency offers Identity Theft Protection for your customers so that you can give them the peace-of-mind that comes from knowing their credit is being monitored for important changes to their credit file, including potentially fraudulent activities. Also, by providing ongoing access to credit reports and scores, Identity Theft Protection provides valuable tools and information that can assist your customers in making sound financial decisions, which is more important than ever in a troubling economy.

Typical Customer Benefits:

  • Credit reports and scores
  • Credit monitoring
  • Credit information hotline to assist members with understanding their credit reports
  • Financial calculators and "what if" credit score simulators
  • Identity theft fraud support service
  • Identity theft expense reimbursement

Identity Theft coverage can provide valuable new fee income for your institution and enhance your standing with your customers. It’s also increasingly becoming a more important part of any lender’s risk management program. Let us help you design an Identity Theft program for you and your customers.