Understanding Identity Theft
Most people have heard of identify theft but what exactly is it? Identity theft is also known as identity fraud and is when a victim’s identity is used to get credit cards, apply for credit at banks and other establishments, open accounts at financial institutions, take money from existing accounts, get a job, or file bankruptcy. Your identity can also be used by another person when committing crimes ranging from misdemeanors to felonies. The thief does all this without the victim’s knowledge and depending on how long it goes undetected for weeks, months, or even years.
Thieves can steal your identity in a number of ways. Thieves can get your information from many sources like online, from your mailbox, your trash, spoof emails and telemarketing scams. Personal information can be obtained if you loose your wallet and a criminal steals personal information from it. But sometimes you don’t have to do anything in order to become a victim, thieves can get enough information about you to commit identity theft from doctors and other health care professionals offices, your insurance company, healthcare company etc..
All criminals need to commit identity theft is your social security number, birth date, credit card numbers, or any other personal information. Once they get your information they can use it to make a fake drivers license with their picture on it and commit crimes under your name. Or they can use your financial information to steal money in your accounts, open new credit card accounts and charge purchases to old ones. They can apply for loans or lines of credits all under your name and to the detriment of your god credit name.
If you do become a victim of identity theft you must take action immediately. As soon as you are aware that there is a problem with one of your accounts or your name being used by another person, you must contact your bank, credit card companies, all three credit reporting agencies, and the police. Quick action is essential in clearing up problems caused by identity theft as well as close monitoring of your accounts to ensure all suspicious activity has stopped.