Identity theft can quickly ruin a good credit history and you may not know until the damage is done. New federal data out this week shows our active duty service members and veterans are reporting an uptick in identity theft. In 2021 alone, military consumers reported nearly 50,000 cases of identity theft to the Federal Trade Commission (FTC). For military personnel this kind of theft has a larger impact. That’s because many servicemembers are required to pass a national security clearance check that includes a review of their credit history and if it appears they’re in excessive debt, the servicemember’s security clearance may be revoked. We breakdown this latest data and the possible implications.
