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 Thursday, 28 May 2009

ID theft victims are much more likely to get hit with fraudulent charges on their credit cards or debit cards, according to a new study from the Identity Theft Resource Center that tracks the effects of ID theft.

While repairing the damage from ID theft involves some cost for things like police reports, photocopying, travel, etc., ranging from an average of $739 for dealing with damage done to an existing account to $951 to fix the aftermath of a fraudulently opened new account, the real pain comes from the time spent dealing with the mess. It took 58 hours on average to deal with ID theft involving existing accounts, and a painful 165 hours for new accounts, the study found.


(Source: PCWorld)

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