How Do I Avoid Identity Theft

Posts Tagged ‘identity’

Are you aware of identity theft and the danger it can bring to your life if you become one of its victims? Perhaps not yet. Do not think that your innocence regarding identity thefts subtle workings is a protection from being violated.

Identity theft is a malicious and vicious crime wave nowadays. It is but necessary that you be properly informed of its machinations and implication. You also need to be kept up to date of recent events and cases pertaining to such crime. Being informed and up to date is a step to prevent being attacked or being a victim of this crime.

There are many websites through out the Internet developed to give you needed information, data and updates regarding identity theft. These websites will tell you everything you have to know about identity thieves, how they operate, when and where they attack and what they usually do to carry out their malicious plan.

The information they share to the masses of internet users, who are usually the first target of this crime, are through articles concerning identity theft. In these articles, they explain the subtle machinations of identity thieves just to obtain strictly personal and confidential information about people.

Articles concerning identity thefts also give an account on how to prevent being victimized by identity thieves. There are also articles about the laws being passed against identity theft. There are also in-depth explanations of various identity theft cases already tried in court.

According to articles concerning identity thefts, the term identity theft is the co-option of another person’s personal and confidential information. Identity thieves go to great lengths to discover a person’s whole name, social security number, credit card number, passport and ATM card information. The persons whose personal information and identity they stole are usually clueless of this fraudulent activity until after a crime has been committed and they are deep in trouble because they are the assumed culprits.

Identity theft is a crime being committed by malicious and ingenious criminals. This crime takes on plenty of forms. It can also be conducted in many varying ways on different avenues. Though it uses different schemes, they are identified because of the wrongful acquisition of another person’s personal data through fraud or deception and typically for economic gain.

The Websites with articles concerning identity thefts explain why people need to take precautions against identity theft.

Unlike fingerprints, which are solely yours and cannot be stolen by others, for their own gains, your personal data like Social Security number, bank account or credit card number, telephone number, and other valuable identifying data can really be stolen and used for the criminal’s own ends. If valuable data of yours fall into wrong hands, you can become a victim of persons who would like to profit at your expense.

Some articles concerning identity theft also share particular tactics being employed by identity thieves just to get hold and access other person’s personal information.  There are also news accounts on the incidents wherein identity theft may occur.

An example is the articles on credit reports containing serious errors that might cause consumers to be denied car loans, credit, credit cards and even mortgages. Another example is a recent article concerning identity theft warning consumers of the possibility of “huge victimization” within the next two years.

These reports all bear serious warnings to be extra careful in monitoring all financial transactions for unexplained account activity, withdrawals, or fund transfers.

There are also ample information about the nature and extent of identity theft activities as reported by victims.

There are also articles about good news on the fight against identity thefts. There is the article account about the Fair Credit Report Act. According to the article regarding this matter, the FCA  requires credit-reporting agencies to fix credit card mistakes.

There are also legal websites that will give access to users legal articles concerning identity theft cases. They give brisk analysis and specific data about trying identity theft cases in formal legal proceedings.

Here are other areas where identity theft can occur:

-  medical transactions
-  bank transactions
-  mails and e-mails
-  credit card transactions
-  internet transactions

Many articles concentrate on the particular areas where there are risks of identity thefts. There are also articles concerning investigations and statistics of identity theft. Steps in proper prevention and warning about identity theft are also shared in most articles.

It is but wise for Internet users to read up and start feeding yourself with important stuff about identity theft.

Ever wonder how identity theft occurs? It is actually quite fascinating, if it is not a very malicious and dangerous crime.

Identity theft occurs once a thief assumes another person’s identity by using confidential information supposed to be known exclusively by that person. The thief will commit fraud using the person’s name and important confidential information without the victim ever knowing about such transactions.

When the person or victim finally finds out about the crime committed, the thief is long gone in excruciating anonymity. They leave behind a ruined reputation, and a paper trail of ruined credit, debts and collectors.

Sometime the implications of identity theft usually cause the wrongful arrest of the victim. Why so? Because, without the identity theft angle in the case, it can be assumed that the victim was the one who committed the crimes because it was done under his/her name.

It is an alarming occurrence and usually, the victims would suffer the implications of the crime for years to come.

The past several years brought about an alarming wave of identity theft crimes in different areas dealing with personal information and economic transactions.

One of the hardest hit by identity theft crimes are the banks. Bank identity theft has been around long before there were credit card, social security, internet, job banks, airline and medical community identity thefts.

Bank identity theft occurrences vary. Some cases involve a thief continuously withdrawing huge amounts of cash from a bank account of another person until there is none left. Another case may involve the identity thief assuming the name and other personal information of another person then files for a bank loan.

Armed with personal information of another person, an identity thief can obtain a driver’s license. He/she can open new lines of credit and bank accounts even buy a car and get a mortgage. Bills and statements from these transactions are diverted to the thief’s temporary address.

They then bilk the victim’s credit line for all it is worth in cash advances, loans and credit card debt without intent to pay. All these occur with the thief hidden in a shroud of anonymity.

Bank identity theft and other forms of identity theft is a nightmare for millions of people who have become victims of such crime. Indeed, the figures of those victimized have reached into millions already. Sadly, though state and federal laws and stricter bank transactions have been imposed, the number of victims continues to rise each year.

When the walls come crashing in, you are left holding the bag and the thief is long gone. Financial recovery from identity theft can take years.

In United States and Canada, many people have reported unauthorized persons taking out funds form their bank or financial accounts. There are even worst cases when the victims report of an identity thief who has totally taken over their identities. With it, the thief have run up huge debts and committed crimes all under the name of the victim.

There was a notorious case of identity theft wherein the criminal, a convicted felon incurred more than $100,000 of credit card debt. Aside from this, the felon also obtained a federal home loan, bought homes, motorcycles, and handguns using the victim’s name.

With maniacal pride, he called his victim to taunt him. He declared that he could continue posing as the victim for as long as he wanted. During that time, identity theft was not yet a federal crime. Then, the thief filed for bankruptcy still using the victim’s name.

Very bitter was the fact that the criminal only served a brief sentence while the victim and his wife spent more than four years to restore their reputation and credit. They also spent more than $15,000 of their own money to win back their credit. The criminal did not even made restitution for all the danger he had caused.

The only positive thing that came out of this case and the others similar to this is when the Congress created a new federal offense against identity theft in 1998.

You can avoid being a victim of bank identity theft by identifying red flags that may indicate

Here are several red flags that indicate you may be a victim of identity theft:

1. There are bills for a credit card account you did not open.

2. There are notice charges, which you did not authorize on your credit card statement

3. No bills and credit card statements arrive on the days you expect them.

4. Unauthorized transfers or withdrawals on your bank statements show.

5. Notifications from collection agency about accounts you never opened.

6. Calls or notices from businesses about merchandise you did not buy.

7. Debts showing up on your credit reports that you did not file.