How to Protect Yourself from Identity Theft

How do I protect myself from identity theft? This was a real question that my wife and I asked ourselves after someone had stolen our personal identities and charged a lot of money to our bank accounts. I am a real life victim of identity theft. The unfortunate issue is that no one ever thinks it will happen to them or their family.

If you were a criminal which option sounds more dangerous and likely to end up in prison?

1. Rob a liquor store.

2. Rob a bank.

3. Rob an individual without them knowing it.

What is Identity Theft?

Identity theft occurs because the crime is simple, easy to achieve, and most of the information criminals are seeking is readily available. Identity theft is the use of an individuals personal information such as credit card information, bank information, social security numbers, etc for the monetary gain of a criminal. It can take on numerous forms such as buying a car, leasing a home, a night on the town, new clothes, and many other kinds of purchases.

How would a criminal steal my identity?

1. Physically stealing a wallet or purse is one of the oldest ways to obtain someone's personal information as well as immediate cash or credit.

2. Changing your physical address to an empty one where they can readily pickup the mail.

3. Garbage Rummage. Anyone can search through anything that has been willingly discarded. It is not against the law to collect used items. How many times have you thrown out credit card statements with your address, account number, name, and pertinent info all right there.

4. E-mail scams to try and get you to reveal your secret passwords and/or personal info by pretending to be legitimate businesses.

5. Pretending to be utility companies, financial institutions, etc. on the phone verifying info.

6. Employment skimming/carding. They seek gainful employment specifically for the purpose of obtaining credit card info from customers for criminal purposes.

What can a thief do with identity theft?

Charge multiple thousands on your credit cards or at least up to what is available.

Open new utility accounts for television, water, phone, etc.

May use your checking accounts or savings for purchases.

May open new accounts in your name.

May obtain government I.D. with your info or legal documents in your name.

May take out a loan in your name.

May transfer your personal assets to other names.

May file fraudulent tax returns in your name.

May give your name during an arrest. If you don't show up for court you may have a warrant issued for your arrest.

May compromise your job and or livelihood by using your name in crimes.

What can I do if I am the victim of Identity theft?

File a police report immediately.

Contact all of your accounts immediately including your banks, credit card companies, utility companies, etc.

Contact the credit bureaus and obtain your most recent credit file. Analyze and determine if your credit has been tampered with. Dispute anything that looks illegitimate.

You may find much more info by contact the official FBI website www.fbi.gov

How long can Identity theft affect my life?

You can be affected for years if you don't immediately react to anything that looks suspicious. Identity theft can cause major damage to your personal and professional life. You may find your credit rating, your livelihood, and your wealth altered by this crime.

Every day this crime is becoming far more popular than past kinds of crime because the ease in which the crime can be committed. Protect yourself by keeping your personal information safe, being skeptical of strange e-mails, phone calls, or inquiries for personal information. I suggest you purchase a cheap paper shredder and shred all personal monthly statements and bills that contain your address, account numbers, phone numbers, and social security number before you throw them in the garbage. This might sound like a lot but you might be saving yourself years and thousands of dollars worth of lessons in loss.

Be aware. Be smart with your personal information. Don't share what is not necessary. Don't tempt criminals by being an easy target.