Identity theft is gaining more recognition as being a legitimate threat to people worldwide. Aside from being featured in TV shows, movies and books, identity theft has also become a problem for everyday consumers as well. You may not realize it, but every time you use your credit or debit card, you are putting yourself at risk for the theft of your identity. Today’s identity criminals may only require your name, address or your social security number in order to assume your identity, effectively ruining your name, reputation and credit score. Here is a general guide designed to help give you more information about identity theft, and the methods a thief may use to steal your identity.
What is Identity Theft?
Any time someone uses a credit card number, social security number, name or other information that doesn’t belong to them, they have committed identity theft. Often times, criminals will steal the information of others in order to commit crimes, make large purchases or fund fraudulent activities. It is becoming more common, even as many people are taking steps in order to protect their personal information.
Am I At Risk for Identity Theft?
In the United States alone, it’s estimated that over 9 million people have their identities stolen each year. In many cases, the affected people don’t even realize that their identities have been stolen until the damage has already been done. Identity theft takes many forms, as criminals now have sophisticated methods that they may use in order to steal your identity. In general, every person with a bank account, credit card or social security number is technically at risk for identity theft.
How Can My Identity Be Stolen?
There are many methods that identity thieves may use in order to assume someone else’s identity. Some of these methods are performed in public places, such as restaurants or retail stores. Other methods make use of fraudulent emails, phone calls or letters claiming to be a company that requires your information. Some examples of methods of identity theft include:
Physical Theft
When you lose your credit card, driver’s licence or social security card to a thief, you are at immediate risk of having your identity stolen. Some thieves still resort to straight stealing of a person’s wallet, identification documents or purse. In addition to this, some thieves bribe employees of banks or other institutions that have access to your personal information.
Phishing
In this method, a thief will assume the identity of a reputable company or banking institution, perhaps a company that you already do business with. They will send you emails, letters or other documents stating that they need to “update their records”, or “confirm your information”, in order to convince you to surrender your personal data to them.
Skimming
In this method, a thief will wear a special scanning device when working at a location that processes credit cards (such as a restaurant or retail store). When they run your card through the store’s system, they will also run the card through their scanning device. This device will store your name, address, credit card number and any other information associated with your card. They may either use this information to steal your identity, or sell it to another thief.
Dumpster Diving
Perhaps one of the most well-known methods for identity theft involves a thief rummaging through a person’s trash to search for important documents. These documents may be credit card offers, bills, bank statements, pre-approved credit offers, bank checks or tax documents. Once they have this information, they can effectively steal your identity.
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