Identity Theft - Scams to Steal Your Personal Information
The digital revolution has helped give rise to some amazing advances. Alas, it has also created a new plethora of opportunities for criminals and identity theft represents one area where crime seems to be paying for the most part.
The phrase identity theft generally means what it sounds like. It is the theft of a person's identity by another for some profitable purpose. That being said, identity theft actually comes in a number of different forms.
Stolen credit cards are the most common form of identity theft, right? Nope. Misused credit card accounts are the result of the swiping of the real prize. What is the real prize? Social security numbers, the gateway to your finances.
Whether you realize it or not, social security numbers are the foundation of our financial society. You must have one to play. By play, I mean open credit card and bank accounts, take loans and so on. This is exactly what happens.
Another area where social security numbers are being turned into criminal profits is fairly new. Many illegal immigrants are required to show valid social security numbers to hold jobs. Guess where those numbers are coming from.
The sale of social security numbers to people who need them to hold a job causes another massive problem for the victim. Taxes. The IRS receives a report of all earnings per social security number. If you under report, you will be contacted.
Another area where your social security number can be misused is at the bank. The thief will open a bank account using the number. The thief then writes bad checks against the account until the bank closes it.
Finally, identity thieves need to chat by phone frequently, but why should they pay for this when you will? Yes, they use your information to buy cell phones and open new accounts with the mobile providers.
As with any crime, identity theft is not something you want to experience. Unlike other crimes, you rarely realize you are a victim until things are really bad. Theives have bills sent to addresses other than yours, so you don't know it is occuring.
Sooner or later, you will figure out that you have been a victim of identity theft. It may be when collectors call or when your ATM card doesn't work or when a credit card charge is rejected. Whatever the occasion, it will not be pleasant.
Trying to convince credit card companies, the IRS and so on that you are innocent is a test that would make Buddhist monks riot. Your best option is to take every step possible to avoid the problem.
Aazdak Alisimo writes articles on identity theft for ArticlesonIdentityTheft.com.
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