What is identity theft?
Identity theft, defined by law, is when someone uses another person’s personal information for deception or fraud. Usually this is enacted in an attempt to make money or some other sort of financial gain. Your name, social security number, bank and credit card account numbers, and other information which identifies you, are all potential data sources to steal your identity. Typical identity theft will usually involve a thief using your name to take out credit cards, personal or vehicle loans, or even to access your bank accounts. These actions can cause financial disasters, and can severely damage your credit report.
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The rise and cost of identity theft nationwide
In the past decade, identity theft has surpassed all other variants of financial crimes and also the most costly. The FBI estimates that over 9.9 million people have been victimized in the past two years alone, and over 30 million over the past five. The costs are staggering: over $52.6 billion dollars have been stolen from people by identity theft. The federal government is a source that maintains statistics, information and what you should do if you think you have been a victim of identity theft.
Why you are at risk
Most of your personal information is probably already easily accessible by potential identity thieves. Anyone who has access to your accounts within various companies will also have access to your personal data. Increasing the amount of data out there through your actions will dramatically increase the likelihood you will become a victim. Learn how to limit your exposure to this crime by reducing the amount of information publicly available about you. There are simple steps you can take today to help you avoid being victimized by identity theft later.
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Common ways identities get stolen
Identity thieves steal from you without ever having to meet you. When you are out in public, surfing the internet, or just paying your bills at home, you are exposed to identity theft. These common practices put your identity at increased risk:
- Entering your credit card information over a public telephone. There have been many reports of people who position themselves to either overhear your number or witness you type it into the keypad.
- Filling out applications both online and via the mail which comes to your home unsolicited.
- Throwing away old bills, applications, and other personal information in your home and business garbage.
- Completing job applications or submitting resumes.
- Answering personal questions to telemarketers or survey takers online, over the phone and in person.
How to steer clear of identity theft
There are simple changes you can make, that will quickly decrease or even eliminate your likelihood of being victimized by identity thieves. Follow these steps:
Shred all personal mail, bills, account statements. Anything that is printed on paper that contains any of your personal information should be shredded. - Never submit your social security number unless required by law. If asked for this information, ask why it is needed and if you can opt out of providing it.
- Do not fill out any unsolicited applications for credit cards, discount cards, contests, or anything else that requests your personal data.
- Do not use public computers, such as in a library or even at the office, to check your online accounts. Data sent over the internet can easily be compromised.
- Do not maintain online accounts displaying your resume or employment applications. Request that any potential employees shred your application if you are not hired.
- When in public, take great care when using your credit or debit card. Never say your card number aloud or leave receipts with your full number intact. Also make a habit of using your body to block others from seeing you enter your PIN number.