How to Protect Your Identity: Identity Theft Defined
Many things can be owned. These things may have been purchased, given as gifts or passed along from one generation of a family to another.
They may have a monetary value or they could be more sentimental. Things like pictures or other heirlooms are hard to put a price on, but they can be invaluable to people who know their history.
Of course, the problem with owning something is that it could be stolen. Or it could even be lost due to something like fire, flood, or some other natural cause. And naturally, there are plenty of thieves out there who would steal your possessions if given the chance.
One other item that can be stolen from individuals is something extremely personal. That item is a person’s identity. To increase the general awareness of identity theft it is important to define identity theft. In order to define identity theft it is imperative to know how society defines identity theft and how it can occur.
Just What Is Identity Theft, Anyway?
Identity theft occurs when someone misrepresents themselves as another person, usually for the purpose of committing fraud. This could include illegally accessing that person’s financial accounts or committing criminal acts in their name.
Also, to properly define identity theft, it is critical to define the negative impact experienced by the individual whose identity has been stolen. One of the negative repercussions of identity theft is financial loss. Often an identity theft crime will affect a person’s bottom line as thieves access credit cards, bank accounts, etc.
In addition, if not addressed quickly, an identity theft victim will have to deal with damage perpetuated on their good name. Often this damage is reflected in credit ratings, possible criminal activity, employment interviews, etc. Although the victim is innocent, often it takes months or even years for the devastating effects of the identity theft to be cleared.
How Identity Theft Happens
Identity theft usually happens when someone obtains critical pieces of information about you.
This may include things like social insurance numbers, driver’s license numbers, or bank PINs. Things that only their owner ought to know.
If these numbers are obtained by an identity thief, they can use them to pose as you to banks, credit companies or other services. This personal information should never be given out glibly.
Most legitimate companies will only ask for this information if you have initiated the call. They don’t call you and ask for it. They may also only ask for the last few digits, rather than the entire number.
Identify thieves can also obtain this information by going through your trash or stealing your wallet or purse. It’s important to shred all paperwork that contain important information before you throw it out.
