Identity fraud is a growing problem. Researchers estimate a total of $16 billion was stolen from 15.4 million U.S. consumers in 2016. In fact, in the past six years identity thieves have stolen over $107 billion. Javelin Strategy & Research.
Following the introduction of microchip equipped credit cards in 2015 in the United States, which make the cards difficult to counterfeit, criminals focused on new account fraud. New account fraud occurs when a thief opens a credit card or other financial account using a victim’s name and other stolen personal information.
High net worth individuals face unique risks when it comes to identity fraud crimes. At Madison Insurance, we know that recovering from identity theft can be costly and time consuming. We can help.
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