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    HomeWorldMore Troops, Families Could Get Free Credit Monitoring to Catch Identity Theft

    More Troops, Families Could Get Free Credit Monitoring to Catch Identity Theft

    More Troops, Families Could Get Free Credit Monitoring to Catch Identity Theft

    More service members and now families could get free credit monitoring under a bill in the Senate. The expanded benefit could help reduce troops' higher risk of identity theft.

    A bipartisan group of four senators introduced the Servicemembers' Credit Monitoring Enhancement Act on April 26 to expand an existing right.

    Some troops can already get free credit monitoring. A 2018 amendment to the Free Credit Reporting Act, implemented in 2019, requires that the U.S. credit reporting agencies provide free electronic credit monitoring to active-duty troops and National Guard members who sign up.

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    The bill proposes a further amendment, this time expanding the free service to all uniformed troops, regardless of duty status, and to spouses and dependents over age 18.

    Active-duty troops were 76% more likely than other adults to report a case of identity theft in a 2020 analysis by the Federal Trade Commission, and one-fifth of them said they'd already been the target of multiple types of identity theft. They were twice as likely to have their identity stolen by someone they knew.

    Credit monitoring can help to quickly pick up on instances of identity theft, according to the FTC, by flagging “mistakes or problems with their credit reports that might stem from the unauthorized use of their personal information to obtain credit,” the commission said in a statement…

    Continue Reading This Article At Military.com

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