What is Identity Theft?

Identity theft, sometimes called identity fraud, is the name given to a type of crime where someone wrongfully obtains and uses another person's personal data in some fraud or deception, usually for financial gain.

Today much of life depends on use of data that can be misused by unauthorised person.  Information such as Social Security numbers, credit card details, banking passwords etc are now vital components of everyday life and yet relatively easy to use for fraud if the fall into the wrong hands.

With the correct information about someone a criminal can use that persons identity for a variety of crimes such as false loan and credit card applications, fraudulent bank account withdrawals or obtaining other goods or services under somebody else's name or giving your name when arrested or filling in tax forms.  Often the criminal takes steps to ensure that documentation relating to the fraud is sent to an address that is not the victim's and thus the victim may not become aware of what is happening until for some time.

Not only can the victim of identity theft incur financial losses and inconvenience from the crime itself but the process of restoring their reputation, credit rating and incorrect personal information can be expensive, time consuming and stressful.  This has led to an increase in the number of insurance companies offering Identity Theft insurance.

If you have not been a victim of Identity Theft, this site has information on how to prevent becoming one of the many people that have become a victim.  The information provided here ranges from keeping your computer anti-virus up to date to making sure that when you throw away your mail, that no personal information can be retrieved from it. Do you have a co-worker looking over your shoulder when you're working at your computer? Does your computer have firewall? Did you sign up for the loan that you are now receiving bills for?

Basic protection can be provided by:

• Not giving your Social Security Number to anyone who calls you.

• Don not respond to any email that asks you for account or password information.

• Do not throw away credit card and loan offers offers -  shred them.

• Keep a close eye on your bank records. Obtain a credit report annually to check for fraud.

On this site you can find out about identity theft protection, prevention, statistics, insurance, internet identity theft and the importance of obtaining credit reports.