24 THE QUEENS COURIER • JUNE 21, 2018 FOR BREAKING NEWS VISIT WWW.QNS.COM
How US Consumers are
Fighting Identity Theft
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Co-Author of the
best selling book
“Breaking the Tax Code”
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Salvatore P. Candela, EA, ATA, ABA
Enrolled Agent - Tax Advisor
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BY JOHN SAVIGNANO, CPA
Almost half of American consumers
(48%) think it is at least
somewhat likely they will lose
money to identity theft in the
near future, according to data
from a Harris Poll conducted
on behalf of the AICPA. The
survey polled 1,006 U.S. adults
by phone in the autumn of 2017.
Their instincts may ne correct:
143 million U.S. consumers
were victims of cybercrime
in 2017, with losses hitting
$19.4 billion.
Still, only three in five adults
responding to the AICPA survey
(61%) said they had ever
looked at their credit report.
Monitoring your credit is an
important step in protecting
your finances, according
to the AICPA’s National
CPA Financial Literacy
Commission. Consumers can
request one free report per
year from each of the three
major credit reporting agencies
and review them for
unusual activity.
Consumers should also
check credit reports associated
with their children’s names,
even if their children are years
away from applying for credit.
Eighty-one percent of consumers
reported making
changes to their behavior to
ward off potential scammers,
including tactics such as:
• More frequently checking
accounts and statements for
unusual activity.
• Using cash or checks more
often.
• Shopping at locally owned
businesses rather than national
chains in hopes of avoiding
data leaks.
• Going to fewer websites or
quitting social media.
It’s important to report suspicious
financial activity quickly,
as losses can escalate if notification
is delayed. The commission
also recommends using
only secure wireless internet
networks, as thieves may skim
personal information from
open networks at coffee shops
and airports.
John Savignano is a partner
with Savignano Accountants
& Advisors located at 47-46
Vernon Blvd., Second Floor, in
Long Island City. If you have
any questions or require additional
information, please call
John at 718-707-0955.
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