Identity theft is a worldwide problem that continues to
widen its scope every passing month. About 10 million victims per year are getting
affected with Identity theft.
It has been estimated to cost consumers and
businesses more than 50 billion dollars a year. It is easily among the fastest
growing categories of white collar crime.
Identity theft is the stealing of identity through the
internet. But can identity be stolen, you ask. Your identity can be stolen as
long as you have Social Security number, bank account number, credit account
number, health card number.
Ways in Which Identity Theft is done
Identity theft, which is also called as identity fraud is
done in many ways. The following are some of the ways in which your identity
can be stolen:
- In
Public Places: Many crimes happen right out in the open, in public places.
Criminals watch closely, taking into account your security information by
watching you key in numbers at an Automated Teller Machine (ATM) or public
keyboard on a computer.
- Identity
theft perpetrators may steal records from employers, or bribe an employee
having access to the records or even hacking into organization's
computers.
- Identity
theft may be carried out by persons pretending to be an employer,
landlord, or any other person who have legal right to your personal
information.
- They
may steal personal information from you through phishing, spam emails or
phone by posing as legitimate companies and claiming that you have a
problem with your account.
- Another
identity theft method is by going through your personal or business trash.
This is known as "dumpster diving". Identity theft may be carried out by
someone abusing the employer's trust and accessing credit report
information.
- Another
simple way is by stealing wallets and purses carrying identification and
credit cards or by stealing personal information from your home directly.
What will identity thieves do with your personal information?
Identity can use your personal information for their own
benefit in many ways. Here are some of the ways in which they can use your
personal information.
- They
may call your credit card issuer to change the billing address on your
credit card account. The imposter then runs up charges on your account.
Because your bills are being sent to a different address, it may be some
time before you realize there's a problem.
- They
may open new credit card accounts in your name. When they use the credit
cards and don't pay the bills, the overdue accounts are reported on your
credit report.
- They
may open a bank account in your name and write bad checks on that account.
- They
may buy a car by taking out a car loan in your name.
- They
may get identification such as a driver's license issued with their
picture, in your name.
With so much identity theft going on these days, you must
remain vigilant to protect yourself. Never give out personal information,
passwords or account numbers unless you are 100% sure of who you are
communicating with.
You should also monitor your credit card statements every
month and check your credit report once a year. If you find anything that looks
out of place, call your credit company and take steps to make sure it is a
valid charge.
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