Identity theft is a serious issue that is faced by many people in the US. According to the studies, two out of five people is affected by ID theft in every one hour. Identity theft is simply a term used to depict illegal or fraudulent activities that is done by a criminal or a thief using another person’s identity. This usually happens when a person steals your valid documents or data including social security card, credit cards, driver’s license, or any other records that contain your most valid information. As per the records of the Federal Trade Commission (FTC), about ten million Americans become victim of ID theft every year.
People can become a victim of identity theft irrespective of their age, sex, and income level. A skilled identity thief may adopt a variety of methods or options to steal your sensitive personal, business, or financial information. Pick pocketing wallets or purses containing your personal information such as credit cards, social security card, and ATM card is one of the most common ways through which your identity could be stolen. Identity theft may also occur via a process, namely, dumpster diving, in which criminals search your trash in order to check whether you have thrown accidentally any important bill or vital bank papers. Another unscrupulous method that is used for identity theft is skimming, for which thieves use a kind of compact special device to clone your credit card or debit card details. Thieves also lean on such conventional options as phone and raiding your mail box in order to steal your personal information. With the advent of the internet, online ID theft is also increasing.
Once your identity is stolen, thieves use it for several purposes like gaining job using social security card, opening new accounts in your name, opening a new phone account, opening bank accounts, and taking loans, however running up bills as well as charges in your name. In short, whatever the methods used to retrieve or steal your identity, the after effects of identity theft is severe, and it can really create havocs in the victim’s life. Some people are affected by bad credit while some people may lose their job as well as reputation due to ID theft. There are also some people who may be accused of crime as a result of ID theft.
Precaution, ie being careful all time, can prevent you from being a victim of ID theft. Never answer to phone calls requesting for your credit card or other personal details. Likewise, check several times before throwing even a piece of paper, as your trash may become another person’s treasure box. Further, verify your credit and bank statement in regular intervals. In case, if you find any suspicious transaction, report it to your bank or Credit Card Company. In such circumstance, if your identity is stolen, immediately file a police report and inform it to Federal Trade Commission.
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