"Identity Theft Epidemic Hits Credit Industry Hard: Experts Warn of Growing Threat A major credit reporting agency has sounded the alarm on a growing crisis that's leaving the industry reeling. Estimated annual losses in the hundreds of millions of dollars are being attributed to a surge in identity theft, with thieves using stolen personal data to rack up fake credit accounts and drain financial resources. As the number of reported cases continues to rise, experts are warning consumers to be on high alert and take immediate action to protect their sensitive information. With the potential for widespread financial devastation, the credit industry is bracing itself for a long and costly battle against these cunning cyber thieves."
The credit reporting agency estimates annual industry losses in the hundreds of millions of dollars.
