Has Fraud in Eastern Iowa Cost You More Than Your Identity?

You may not be hearing as much as you once did about identity theft; however, just because it is not the front-page story that it once was, that doesn’t mean it’s not occurring. Identity theft in Iowa and throughout this nation is still taking place, which means you still need to protect yourself from financial fraud in Iowa.

According to the Consumer Sentinel Network, a database the Federal Trade Commission created to collect identity theft and fraud complaints from consumers, there have been over 6.1 million complaints since the database was created in 1997. In 2010 alone, 1.3 million complaints were filed, and most of them were regarding identity theft followed by debt collection complaints.

However, Javelin Strategy & Research shows that the number of victims of identity theft in 2010 was down from 2009, but the out-of-pocket costs for consumers nearly doubled. This fact begs some to ask what is making the costs rise if less people are victims of identity fraud.

Because more and more people are watching their credit reports more closely, making identity theft more difficult, there has been a shift to debit card fraud. Debit cards often don’t have the same protections that credit cards provide, so consumers’ out-of-pocket expenses are higher when they are victimized in this way.

Experts advise that you should review your monthly credit card and bank account statements, keep accurate records and make sure to review your credit report carefully in order to not become a victim of financial fraud in Eastern Iowa or anywhere in this nation.

If you were a victim of financial fraud in Iowa, you may have more rights than what your bank or credit card companies are telling you about. Call an experienced financial fraud attorney in Cedar Rapids at the Law Offices of Brady & O’Shea at (319) 866-9277 for a free legal consultation.