Identity Theft No Laughing Matter

The latest box-office hit is “Identity Thief,” earning more than $36 million in its opening weekend to become the No. 1 movie in the country. But when identity theft occurs in real life, it costs American families billions of dollars and is the No. 1 consumer complaint in the U.S.During the two hours it takes to sit through the movie, more than 2,000 Americans will reportedly be victimized by criminals who steal bits and pieces of their personal data for financial gain. And the Federal Trade Commission (FTC) reports that identity theft has been the top consumer complaint for the past 12 years in a row. Chris Burrowes was a victim of identity theft in 2000. Burrowes said he was victimized by a college classmate. According to Burrowes, this individual fraudulently obtained enough personal information on him to open numerous credit accounts – charging to the tune of $20,000. It took Burrowes two years to clean up the mess. On today’s episode of Your Money, Your Matters, hosts Linda Webb-Mañon and Rick Grady of the Texas Credit Union League; Courtney Moran, Texas Credit Union Foundation, and Todd Mark, Consumer Credit Counseling Services will talk about identity theft. And special guest Chris Burrowes will share his experience with listeners. Among other things we’ll discuss the various tactics thieves use to steal your identity, and what measures consumers can take to protect themselves. Your Money. Your Matters is a weekly show broadcasting every Tuesday from 11 a.m. to noon CST. The program examines financial issues of most importance to consumers.Tune in; share your thoughts; or gain helpful advice.