How To Protect Your Identity: Identity Theft Defined

There are plenty of things that you could own. Some may have been bought, others given to you, and still other passed along from generation to generation.

Those things may have a monetary value, they may have a sentimental value. They may be things like pictures or heirlooms that would be worth little to anyone other than the people who know their history.

Of course, the problem with owning something is that it could be stolen. Or it could even be lost due to something like fire, flood, or some other natural cause. And naturally, there are plenty of thieves out there who would steal your possessions if given the chance.

One of the most personal things that can be stolen from you is your identity. Identity theft is becoming more and more of a problem, and the first step in preventing it is to understand what it is.

Definition Of Identity Theft

In order to be aware of identity theft, provide protection and prosecute those who steal another's identity, it is important to define identity theft. Identity theft is that action or actions taken by another for the purpose of misrepresenting themselves as that individual in order to commit fraudulent acts. Those fraudulent acts can include the illegal accessing of that person's financial accounts or committing acts of crime. Those acts of crime could include creating new credit cards accounts, obtaining a loan, etc.

One of the most common and severe results of identity theft is some type of financial loss. Having your identity stolen can have a negative effect on your finances when someone is able to access your credit cards, bank accounts and other personal data.

Plus, if it isn't stopped quickly, this damage can have a serious impact on your good name. Credit reports, employment history, criminal records, etc. are all potential problems. Even though you are innocent, the problems are on your record. It can take years to clear your name.

How Identity Theft Occurs

Identity theft usually happens when someone obtains critical pieces of information about you.

These pieces of critical information are generally identification numbers or data that only the owner of that information is privy to. Some of those numbers could be social security numbers, personal identification numbers (PINs), passwords, a mother's maiden name, date of birth, etc.

If an identity thief gets hold of this information, they can impersonate you to banks, credit card companies and other services. Don't ever give this information out to anyone who shouldn't have it.

If a company has a legitimate need for this information, they normally only ask for it if you have called them. They shouldn't call you and then ask for it, since you have no way of confirming they are who they say.

Your trash is another source of this information for identity thieves. Don't ever throw out papers with personal information on it - make sure you shred it thoroughly first.

Article Source: Main Articles

Are you looking for more information about how to stop identity theft? Learn more about how to protect yourself from this and other security threats at the Online Security Toolkit website.

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