Identity Theft - How To Protect Your Identity
There are many things or personal possessions that can be owned. Sometimes these items have been purchased, received as gifts or passed down from generation to generation.
They may have a monetary value or they could be more sentimental. Things like pictures or other heirlooms are hard to put a price on, but they can be invaluable to people who know their history.
The down side of owning things of value is that they may be susceptible to theft. Sometimes theft can be broadly defined as items lost to a fire, flood, earthquake, etc. In addition, there is an element in society made up of individuals who steal from others and can rob law abiding individuals of their prized possessions.
One of the most personal things that can be stolen from you is your identity. Identity theft is becoming more and more of a problem, and the first step in preventing it is to understand what it is.
Definition Of Identity Theft
Identity theft is when one person pretends to be someone else, most often for the purpose of committing some type of fraud. This could mean accessing your banks accounts or even committing crimes in your name.
One of the most common and severe results of identity theft is some type of financial loss. Having your identity stolen can have a negative effect on your finances when someone is able to access your credit cards, bank accounts and other personal data.
In addition, if not addressed quickly, an identity theft victim will have to deal with damage perpetuated on their good name. Often this damage is reflected in credit ratings, possible criminal activity, employment interviews, etc. Although the victim is innocent, often it takes months or even years for the devastating effects of the identity theft to be cleared.
How Identity Theft Happens
Identity theft usually happens when someone obtains critical pieces of information about you.
This can include identification numbers, such as your social insurance number and driver’s license number - things that only their owner should know. Other potentially dangerous pieces of information are your passwords, account PINs, date of birth or even your mother’s maiden name.
If an identity thief gets hold of this information, they can impersonate you to banks, credit card companies and other services. Don’t ever give this information out to anyone who shouldn’t have it.
Often a company is very clear that they will never ask for these sensitive numbers unless the customer has initiated the call. In addition, often a company will only ask for the last four numbers of a person’s 9 digit social security number.
Your trash is another source of this information for identity thieves. Don’t ever throw out papers with personal information on it - make sure you shred it thoroughly first.
