ID Theft Facts

The more you know about identity theft, the better equipped you will be to prevent it. Here are the must-know facts about identity theft.

What Is ID Theft?

When someone uses your personal information without your permission to commit crimes of fraud, identity theft has occurred. Such personal information can include your name, address, social security number, bank account information, or credit card number. When you become an identity theft victim, your information might be used by the thief to take out a loan, get a credit card, or establish other accounts in your name. It is important to get ID theft help as soon as possible to minimize the damage done by an identity thief. Otherwise, you might be denied for credit, lose out on job opportunities, or even be arrested for crimes you didn’t commit.

How Do Thieves Steal Identities?

Identity thieves have a large repertoire of tactics they use to compromise your personal information. ID theft protection works by taking preventive measures to thwart the most common methods of identity theft:

• Going through garbage – thieves sift through your trash to find documents bearing personal information
   
• Skimming – when you swipe your credit/debit card, a special storage device records your account number
   
• Going phishing – thieves pretend to be someone else in pop-up ads or spam emails to trick you into revealing information
   
• Change-of-address – by filling out a change of address form, thieves have your mail sent to a location where they can easily steal your information
   
• Stealing – stealing wallets or purses is still a popular method of identity theft and can be easily combated with identity theft insurance
   
• False pretexts – thieves contact your financial institutions, pretending to be someone else, to obtain sensitive information
   

If You’re an ID Theft Victim, What Should You Do?

If you suspect you’ve become an identity theft victim, you should immediately report ID theft to the proper authorities. Usually, this involves filing a police report, filing a complaint with the FTC, ordering and reviewing your credit reports, notifying your creditors, and disputing unauthorized transactions. When you sign up for identity theft protection, we can help you with this process in the event your identity is stolen.