The Identity Theft Epidemic

December 3, 2009 – 1:54 am

In today’s modern world there’s an increasing threat level associated with identity theft. With newer technology being implemented and invented everyday, this rise has been due in many respects that that innovative technology. Criminals are using that smarter technology to increasingly break into bank accounts, credit card facilities and the like quicker and easier without going detected. But what is identity theft actually?

Identity theft in short is the usage of other people’s sensitive information or data without the knowledge of the rightful owner to their own personal benefit. This can occur in many forms. From the stealing of credit cards and following that, their usage all the way to the stealing of login details for bank accounts that allow the person to access and transfer other people’s money. Identity theft can cause millions of dollars to disappear in the blink of an eye, all the way through to the destruction of someone’s reputation.

Most people are aware of the most basic forms of identity theft, one of them being the stealing of a credit card, which is consequently then used and ran to the ground. The FTC recently released a report which highlighted that 20% of all identity theft cases involved use of a credit card in someway. Ranging from using the credit card, to opening and creating further credit card accounts, or opening up further loan type accounts in the stolen identity’s name. This 20% isn’t the most critical.

The other component of identity theft is where the deeply troubling issues and incidents occur. Imagine having your personal information and sensitive data stolen and used in the circumstances of crimes and convictions. Imagine pulling pulled over in your car by a police officer who then goes on to arrest you for a crime you haven’t committed. Or being in an emergency and the hospital treats you in a different way because someone has used your personal identity to perform some sort of operation that affects how your current case is treated. Your medical records would subsequently be in accurate and not trusted.

The problem with identity theft is that unlike in the past where all you had to do was keep your social security number private and shred your personal mail to ensure personal identity data and information could not be stolen, criminals are a lot smarter nowadays and those two acts don’t guarantee the security of your data and sensitive information. You now need to check all you bank statements, credit card records, bills and letters to ensure that the presented information is accurate and up to date. Otherwise you may be missing some funds that should be in your account. Most forms of identity theft are preventable but the problem lies in the fact that it requires dedication and a heap of time to ensure you are not the victim of identity theft. Most people need to monitor their data on a daily basis and if they can’t, it’s suggested you hire a company that can do it for you.

Identity Theft Online