There is no doubt that identity theft is a very real problem across the globe. Identity theft can not only cause tremendous stress, but also serious financial heartache.

Has this ever happened to you? The last thing you want to deal with while you're on vacation is a lost or stolen credit card, driver’s license, or smart phone. Luckily there are precautions you can take to minimize your risk of theft, or, if it does happen, that it will lead to identity theft. As reported in www.consumerreports.org.

Here is an interesting statistic – 85% of cases termed "identity theft" involve the fraudulent use of an existing account, such as a credit card or bank account, according to the U.S. Bureau of Justice Statistics. But consumer-protection laws and zero-liability policies limit the actual cost of that crime for most consumers to zero. The threat that is much more serious involves a thief assuming your identity and opening new accounts in your name.

Here is another interesting statistic. According to a recent survey, an identity protection service, found that 18 percent of the survey's 1,000 respondents said they had "sensitive information" lost or stolen while traveling (credit or debit cards, smart phones, drivers licenses, or passports), and 9% said they were the victims of identity theft.