Identity theft


Willful usage or transfer of your sensitive personal information like your identification, address or your security number to commit or aid an unlawful activity or felony is what is described as Identity Theft in the ‘Identity Theft and Assumption Deterrence Act, 18 USC 1028[a] [7].’ This includes the theft of your credit card or its number and using it. You will realize that your identity had been stolen only when the delinquent account appears on the credit report.

“You Can Prevent Your Identity From Being Stolen If You Knew How And Where They Steal It.”
Stealing one’s identity is not as difficult as you thought. A loan officer or a waiter at a restaurant could be imposters or an urchin ’shoulder surfing’ through ATM can stumble upon your PIN number. It can also be from your un-shredded account statements, mails stolen from your mail box, cancelled checks etc are just the means they normally follow to steal. Knowing your social security number is enough to reveal your credit, financial, and educational records.

Your Immediate Options, When You Notice the Identity Theft
1. Without loosing a moment contact the nearest U.S. Postal Inspection Service, the credit card company and your bank.
2. Quickly informing the three credit bureaus is essential too.
3. Check your fresh credit report for fraudulent transactions or accounts; close down those accounts you don’t want anymore. Informing your lenders and bankers at this time is crucial.
4. Change your PIN and passwords immediately.
5. Study the consumer guide issued by the Federal Trade Commission for more information.
6. Lodge complaint with FTC or call at 1-877-IDTHEFT. Engage a credit monitoring service for a small fee.

A word of advice here would not be out of place. Use credit card diligently over the internet. Online identity and credit thefts are on the rise.

Identity Theft Is a Social Menace
Of all the identity theft cases, 38% are committed by relative or a family member. Others like colleagues and friends are not too far behind. They make up for a good 50% of the number of relatives. It should not shock you to understand that Identity theft alone constituted $45 billion fraud last year. A biggest white collar crime!

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