Stop Identity Theft Before It Happens To You
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According to the Federal Trade Commission approximately 9 million people have their identities stolen each year. Identity theft occurs when someone uses your personal identifying information such as your contact information, Social Security number, or credit card number with the intention of committing a fraud.
The severity of identity theft varies widely. Some cases may be resolved with as little as a phone call, while others require hundreds of dollars and numerous hours trying to clear a victim’s name. In addition, victims often miss or lose out on jobs, housing, education, cars, and in the most extreme cases, are arrested for a crime they did not commit.
According to the Identity Theft Resource Center, identity theft is divided into four subcategories:
- Financial Identity Theft (using another's identity to obtain goods and services)
- Criminal Identity Theft (posing as another when apprehended for a crime)
- Identity Cloning (using another's information to assume his or her identity in daily life)
- Business/Commercial Identity Theft (using another's business name to obtain credit)
There are many different ways that thieves steal identities. The most common include:
- Dumpster Diving – Rummaging through your trash looking for bills or paper with your personal information on it, including preapproved credit card offers.
- Skimming – Storing your credit card on file when you make a purchase.
- Phishing – Contacting you pretending to be a financial institution attempting to obtain your personal information.
- Changing Your Address – Diverting billing to another location by completing a change of address form.
Identity theft can happen anywhere, so it is wise to always be aware of your personal belongings as well as your surroundings. The most common places identity theft happens include:
- Places of business – Fellow employees are often responsible for co-employees personal records.
- Internet – Hackers access your personal records online.
- Schools and Universities – Students are identified by their Social Security number.
- Mail – Both incoming and outgoing.
- ATM – Storing your information on file when you withdraw money.
In the event that your identity has been stolen, or you suspect that it has, you should immediately:
- Contact the police and file a police report.
- Notify all creditors.
- Dispute any unauthorized charges.
Identity theft is a major problem in the world today, but with the proper education and awareness the risk can be minimized. Three ways to help prevent identity theft are:
- Closely monitor your personal information.
- Educate family and friends on the dangers of identity theft.
- Protect and change internet passwords on a regular basis.
For more information on identity theft please visit: www.ftc.org.
And help stop identity theft before it happens to you!
