Identity theft
Created | Updated May 31, 2005
sources: http://www.gao.gov/new.items/d02363.pdf
http://www.usdoj.gov/criminal/fraud/idtheft.html
What is identity theft?
Identity theft is a crime that is committed when someone wrongfully obtains a person's personal data in order to maliciously use it for their own purpose.
When someone commits I.D. theft, it's usually a case where your credit/debit cards are used, or your name is given in order to purchase something on credit without your permission.
Identity theft always leaves a victim. Even though you may not be liable for payment on borrowed credit, your credit rating could be destroyed, taking months- or even years- to repair.
Even if you stop the theft before it destroys your credit, credit card companies and other financial institutions are paying the price for preventing these common disasters. Many banks and credit companies are spending extra money in order to form and staff fraud departments. Their money is also taking the blow when consumer confidence and online commerce is affected. In turn, the cost of identity theft is spread throughout to the consumer, causing this crime to affect EVERYONE.
How is it committed?
It should be obvious that just locking your doors and windows at night is not a plausible solution to preventing identity theft. Many theives sift through your mail or garbage. One piece of your junk mail, and they can have access to your address, phone number, date of birth, Social Security number, and anything else they would like to know about you. You should be careful when recieving preapproved credit cards, because they usually include your information. Shoulder surfing is also a threat, because omeone who happens to be hovering behind you could be reading your personal information along with you. The internet is infamous for being a place for criminals to dwell in, so it's wise to take precautions when surfing the web as well.
Once a thief has your information, they can apply it in a number of ways.
How can it be prevented?
A solution to this problem is to shred every document you through away, and to make sure that you check your mail as early as possible. Some criminals will collect credit cards you're preapproved for, so that even if they're not activated, your information could still be stolen. Try equipping your door with a mail slot, instead of depending on a mailbox. Also, be careful when making a phone call in public places. Someone could be eavesdropping.
http://www.usdoj.gov/criminal/fraud/idtheft.html
What is identity theft?
Identity theft is a crime that is committed when someone wrongfully obtains a person's personal data in order to maliciously use it for their own purpose.
When someone commits I.D. theft, it's usually a case where your credit/debit cards are used, or your name is given in order to purchase something on credit without your permission.
Identity theft always leaves a victim. Even though you may not be liable for payment on borrowed credit, your credit rating could be destroyed, taking months- or even years- to repair.
Even if you stop the theft before it destroys your credit, credit card companies and other financial institutions are paying the price for preventing these common disasters. Many banks and credit companies are spending extra money in order to form and staff fraud departments. Their money is also taking the blow when consumer confidence and online commerce is affected. In turn, the cost of identity theft is spread throughout to the consumer, causing this crime to affect EVERYONE.
How is it committed?
It should be obvious that just locking your doors and windows at night is not a plausible solution to preventing identity theft. Many theives sift through your mail or garbage. One piece of your junk mail, and they can have access to your address, phone number, date of birth, Social Security number, and anything else they would like to know about you. You should be careful when recieving preapproved credit cards, because they usually include your information. Shoulder surfing is also a threat, because omeone who happens to be hovering behind you could be reading your personal information along with you. The internet is infamous for being a place for criminals to dwell in, so it's wise to take precautions when surfing the web as well.
Once a thief has your information, they can apply it in a number of ways.
How can it be prevented?
A solution to this problem is to shred every document you through away, and to make sure that you check your mail as early as possible. Some criminals will collect credit cards you're preapproved for, so that even if they're not activated, your information could still be stolen. Try equipping your door with a mail slot, instead of depending on a mailbox. Also, be careful when making a phone call in public places. Someone could be eavesdropping.
