What is Identity Theft?
Someone committing personal identity theft may obtain a person’s name, Social Security Number, credit card numbers and other information. This information is used to assume a person’s identity and fraudulently charge merchandise, obtain cash from accounts, take out loans or otherwise commit theft. Similarly, someone who steals a business’s identity, including its name, address and taxpayer identification number can use this information to obtain money or goods. As a business owner, you should ensure that both your business and personal credit are secured and not stolen. Guarding Against Identity Theft As an employer, you must guard against potential identity theft of your own identity as well as that of your employees. Fighting identity theft begins with properly safeguarding personal and business information. As an employer, this means safeguarding your business records, your personal records and your employee records and divulging sensitive personnel information only to trusted third
Identity theft means that someone steals your personal information and uses it without your knowledge or consent to commit fraud or other crimes. For example, if someone opened a credit card in your name, and began buying things using that card, that would be identity theft. If they are not caught right away, the thief may build up credit by paying the first bills on time, and then when the credit card company gives him a larger credit limit, they charge more things and escape without paying for them. The credit card company thinks it is you since the card is in your name.
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 ID Theft Website for more information.
