Custom Search

Identity Theft Protection Facts And Tips

You can hardly read the newspaper or watch the evening news these days without hearing about another case of identity theft. This is one of the fastest growing crimes of this decade and continues to increase. The Federal Trade Commission reports that reported cases of identity theft have been near or at the top of their list of consumer complaints, accounting for more than 40% of all FTC complaints filed.

But even more than the number of reported cases is the financial loss associated with this crime. For the sum total of both business and consumer identity theft, the financial loss is estimated to be greater than $50 billion per year, which makes it one of the most expensive crimes on the record books.

Identity theft is not limited to the simple act of using your credit card to make an online purchase. In fact, the Internet is frequently not even associated with this crime, despite what some doomsayers claim about online transactions. But it is surprising to note that as much as 70% of cases are an inside job for business cases, meaning that the thief is an employee of the business, perhaps even a business you shop at today.

Further investigation into this crime shows that in more than 25% of reported cases, the victim knew or was related to the thief. This is not merely a misunderstanding between family members, but rather are actual reported cases where the crime was committed with malicious intent.

The first cardinal rule in identity theft protection is that you need to be extremely careful what types of personal information you give out, even to people you know. How well do you really know them? Ask yourself if they really need this personal information about you, and then consider if it is worth the risk if you provide it to them.

The key to your personal information is your social security number, and you should never carry your social security card in your purse or wallet in case it gets stolen. There are very few occasions when you need to have that information available if you don't have your number memorized, so do not carry your card with you.

If you spend any time in online email, you have undoubtedly seen the email that alleges to be from your bank, saying they had a security breach and need to have you click this link to verify some information. Never ever click that link. This is a common practice known as "phishing" and even though that web site may look like your bank's, rest assured it is not and any information you divulge there will fall into bad hands. If you have doubts about such an email, contact the fraud department at your bank and ask them about it.

Keep your eyes open and consider what information you are giving out and ask yourself if that person really needs that information about you. Your identity is your business, and the months of hassles you will endure if you are a victim of identity theft is not worth the risk.

Article Source: http://www.ezarticles.info

Jay Anderson follows this crime and has written many articles about Identity Theft Protection, get more information at his web site at www.idtheftprotectiontips.com

Print This Article