More consumers are relying on debit cards as their go-to method for payment. Unfortunately, increased use, coupled with a tough economy, has also led to more debit card fraud. “Debit card fraud is quite profitable for thieves and often has few consequences,” says William Federle, Financial Center Manager with Fifth Third Bank. The good news is there are ways to help keep it from happening to you.

According to the Federal Trade Commission, more than nine million Americans are victims of identity theft each year. This type of theft occurs when someone steals your personal information to commit fraud or other crimes. As a result, you may be turned down for new credit and loans, lose out on job opportunities and even be arrested for crimes you did not commit.

Social networking Web sites, such as Facebook^©, Twitter™ and LinkedIn^®, are great opportunities to connect with family, friends and coworkers. Unfortunately, thieves may also look upon some sites as great places to steal your identity. “Although social networking Web sites are quick to develop new capabilities to attract new users and stay ahead of the competition, some may be slower to prevent their Web sites from misuse,” says Nancy Dodsworth, Officer, Security Awareness Program Manager with Fifth Third Bank.

Many items can be replaced if stolen, but your identity is one of the exceptions. “It can take a year or more to resolve identity theft,” says Jamie Eberl, Financial Center Manager with Fifth Third Bank. “Although nothing can guarantee you won’t become a victim, there are things you can do to protect yourself.”

Tips to reduce your risk
Eberl recommends the following to help reduce your risk of becoming a victim:

The Internet and e-mail are great tools for conducting business - especially for hackers. These tech-savvy criminals use their skills to gain unauthorized access to people's computers and online accounts. To avoid becoming a victim, it's important to know how hackers work and how to protect yourself.

"Fraud has almost become a national epidemic," says a vice president of fraud initiatives and education manager at Fifth Third Bank. "Most of the nation's financial institutions have reported a major increase in fraudulent activities, especially during the last year."

"Identity theft impacts millions of people and costs billions of dollars a year," says Debbie Kossuth, a vice president and director of fraud prevention at Fifth Third Bank. As with many crimes, it's not always possible to avoid becoming a victim. However, you can reduce your risk by increasing your awareness and taking certain precautionary measures.