Quick Facts About Identity Theft

by Adeeba Folami

Overview

The FTC encourages shredding of confidential documents to prevent identity theft.

4d66318b-99db-7711-ced5-9acb0f7fed03300400

According to the Federal Trade Commission (FTC), millions of people suffer the effects of identity theft every year. This type of crime can result in the addition of damaging information to your credit report and requires much time and effort to rectify. However, there are steps consumers can take to lessen their chances of becoming victims.
Identification

Theft of your identity occurs when another person uses your unique identifying information fraudulently and in criminal manner. Thieves make use of your name, credit card or social security numbers in attempts to con others into believing the web of lies they have created.

Considerations

Identity thieves often rent apartments, make purchases, obtain credit cards or establish utility or phone accounts using personal information stolen from unsuspecting victims.
Methods

Thieves use various methods to obtain stolen information including: rummaging through garbage seeking documents with personal data, breaking into mailboxes to steal bills and financial statements, utilizing online phishing scams or fraudulently obtaining private information from banks and other companies that have secure customer details on file.
Response

After getting over the shock of finding yourself an identity theft victim, the FTC recommends reporting the crime to police, contacting your credit and debit card companies to place a freeze on your accounts and, in cases involving fraudulent purchases, making clear your desire to have the charges reversed and your record cleared.
Prevention/Solution

To lower your risk of identity theft, the FTC encourages you to shred personal documents prior to disposal in the garbage, place sensitive mailings directly in post office controlled-rather than unsecured- mailboxes, exercise care in giving out your social security number and drop the habit of carrying your social security card in your purse or wallet.