The Federal Trade Commission estimates that about 9 million Americans have their identities stolen each year. In most cases the victims have no clue their identity has been compromised until they view a credit statement or are contacted by a debt collector. Depending on the type of theft that takes place, identity theft could take years to repair. Leaving the victim with ruined credit and mounds of bills to pay. Money is not the only thing lost with identity theft, other losses may include loss of employment, rejection for loans, and the possibility of being arrested for a crime the victim did not commit.
Identity Theft begins with the misuse of personal information by the victim. Thieves can obtain this information in a number of ways such as: Dumpster Diving, Skimming a credit card number with a special storage device, Changing the victims address to another location, Old Fashioned Stealing, and Pretexting. Pretexting is the use of false pretenses to obtain your personal information from financial institutions, telephone companies and other sources.
There are many ways to avoid identity theft. Awareness is the first and most important step. You should be aware of how information can be stolen and know how to protect yours. Monitor your personal information and know what to do when you suspect your information has been compromised. The United States Department of Justice uses SCAM. Be Stingy. Be careful about who you give your info to. Check your financial info regularly. Ask periodically for a copy of credit bureau report. And Maintain careful records.
For more information about Identity Theft and ways to protect yourself:
http://www.5identitytheftprotection.com/
