What is Identity Theft?
Identity Theft occurs when a person’s identity, such as their name, address, Social Security number, or other personal information is stolen and used for illegal purposes and personal gains. It is one of the fastest growing crimes in the United States. It has been predicted that one in four of us will become a victim within our lifetime. Please visit the FTCs IDTheft Web site for more information.
Identity theft is a crime where a criminal acquires and uses the victims’ personal information, such as Social Security or driver’s license numbers to take out loans, obtain new credit cards, rent an apartment, buy a car, run up debt, file for bankruptcy, as well as other criminal activities. Identity theft can not only damage someone’s creditworthiness, it can also create unknown criminal records that can result in the identity theft victim being wrongly arrested or denied employment after a routine background check.
Identity theft involves the theft of a pre-existing identity. It may occur when a criminal steals or comes into possession of your personal information, such as your name, credit card details, address, date of birth, bank account, debit card details, driver’s license etc and assumes your identity to commit fraud.
Identity theft happens when a criminal obtains your personal information to steal money from your accounts, open new credit cards, apply for loans, rent apartments and commit other crimes — all using your identity. These acts can damage your credit, leave you with unwanted bills and cause you countless hours and frustration to clear your good name. Go to Reporting Fraud to learn more about identity theft and help stop it in its tracks.
