Identity theft occurs when someone obtains pieces of your personal information, such as your driver’s license number and social security number, and uses them to impersonate you.  They may create credit accounts in your name, obtain employment in your name, or even apply for a mortgage in your name!

Newsworthy

In 2003, the Federal Trade Commission conducted a survey on Identity Theft.  Their survey suggested that nearly 10 million Americans were affected by identity theft during the previous year!  That’s a LOT of people!  (Understatement?  Possibly.)

Many types of identity theft crime exist.  They include:

FINANCIAL: A person uses your name and social security number to commit any of the following: credit card fraud, bank fraud, computer and telecommunications fraud, social program fraud, tax refund fraud, mail fraud, etc.  Businesses, as well as individuals, are at risk for this type of crime.

CRIMINAL:  A person uses your name and information when stopped by law enforcement, causing an arrest warrant to be filed in your name.

ID CLONING:  A person uses your name and information to become a “new person”, living and working as you.

Every transaction that requires you to give out your personal information (name, social security number, bank or credit card numbers, address, phone number, etc) puts you at risk for becoming a victim of Identity Theft fraud.

You CAN minimize your risk, though and for those who have been victims, there is assistance through the FTC and other agencies.