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How do you get protected from the Identity Theft? |
What is Identity Theft? Who is at risk when it comes to Identity Theft? How do you protect yourself from Identity Theft? Do Identity Theft thieves get caught? And, who ultimately pays when Identity Theft occurred?
Identity Theft is the biggest consumer fraud, and is currently the fastest growing crime in the United States, according to FBI statistics.
You probably know someone who has already been through an unpleasant and degrading experience of being an Identity Theft victim. And yes, Identity Theft can happen to you too! But you can minimize the risk of Identity Theft by educating yourself on the subject, learning to identify Identity Theft facts, and learning ways to prevent yourself from Identity Theft.
Identity theft occurs when someone fraudulently obtains and uses another’s personal information such as name, date of birth, social security number, driver’s license, credit card, or bank account number. After thieves have stolen your personal information, they can use it in a number of ways such as going on spending sprees using your credit or debit card, opening a new credit card using your personal information and not paying the bills, taking out loans in your name, and filing bankruptcy under your name.
Identity Theft Facts:
Identity Theft Fact #1
Contrary to popular belief, most identity theft occurs through traditional channels such as lost or stolen wallets, checkbooks, credit cards, bank statements, stolen mail or trash, rather than internet. Online channels are to blame only in 9% of all identity theft cases.
Identity Theft Fact #2
Credit card fraud is the most frequent Identity Theft channel. Card issuer is required by the federal law to give customers protection. Most big card companies give customers 100% Identity Theft protection. So, majority of Identity Theft victims don’t incur out-of-pocket expenses.
Identity Theft Fact #3
Over half of identity theft is done by someone the victim knows – friends, neighbors, relatives, or service or in-home employee, rather than strangers.
Identity Theft Fact #4
Generation X (35-44 years old) is the highest risk demographic age group for Identity Theft, rather than senior citizens.
Identity Theft Fact #5
Fewer than 1 in 700 Identity theft crimes leads to a conviction.
How you can prevent Identity Theft:
Identity Theft Prevention #1
Keep all sensitive documents secure. You don’t have organizational skills? Well, this is your time to practice!
Identity Theft Prevention #2
Get a shredder! Before throwing away, shred all sensitive documents, since thieves go through people’s mail looking for personal information.
Identity Theft Prevention #3
Replace paper bills with online versions. Yes, this method is actually less risky. Don’t be afraid of technology and internet. Many people already do their banking on-line. If you are not there yet, it's your time!
Identity Theft Prevention #4
Do not release social security number or other personal information in response to e-mail (phishing) or phone requests from strangers. Don’t carry social security card in your wallet. When you do give your social security number or other sensitive information to someone, make sure that you are not overhead by others and that no one is looking over your shoulder. No, it's not a paranoiac way of life. It will help keep you at a lower risk for Identity Theft.
Identity Theft Prevention #5
Protect your mail by asking post office to hold your mail if you are away from home. You wouldn’t want mail getting into the hands of strangers.
And the last but not least: Review bank and credit card statements regularly to detect fraud if it already took place. Let authorities know. The faster you detect Identity Theft and so something about it, the less potential damage of Identity Theft there will be.
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