We all hear about identity theft, and it is very scary, but you never think it can happen to you. Nowadays, with internet and technology, it is very easy to become a target and the victim of the identity theft. The criminals had become very creative, and it almost impossible to avoid invasion of your personal information.
I know someone who had a client who is very wealthy, and usually accrues high charges on his credit cards, so it was not noticed right a way. The criminal who obtained the his personal information , put a down payment on the house, fixed and purchased cars, spent money on expensive furniture and so on. The way he was busted was, when the accountant noticed discrepancies, and started investigating, they came upon a bill from body shop. So, he went there, and requested the mechanic to show the documents that person provided in order to fix his car. They usually ask for driver license. So, that is how the information was gathered, and forwarded to the police.
What happens when someone steals your identity?
The information that leads to identity thefts are the following: your social security number, personal address, age, birth date, mother’s maiden name. This information is used to apply for credit cards, make multiple purchases, even as it was in the above example put a down payment on the house or a car.
The problem here is that the thieves will rapidly charge/max the credit cards and will not stop until they get declined, if that ever happens. If you have an excellent credit history, the charging and purchasing can go on for a very long time.
Another way your personal information can be compromised is through you very own checking or saving accounts; debit accounts. The thieves find the ways to snatch pictures of your debit cards or checking account numbers, to re-create your personal checks.
A lot of this happens at the gas stations, and ATM machines, or even in stores, where the thieves have connections with the retail people.
So, how to avoid becoming a victim of the identity theft:
– Always check you credit report (which can be free) for discrepancies, and unidentified charges, loans, credit lines etc.
– Check your bank accounts, statements for unusual amounts and checks.
– Separate your billing and home address (makes it difficult for thieves to still your personal info).
– Be careful when giving out your personal info over the phone. Some thieves will obtain a number with caller ID to show financial institutions when calling your house. It can be easily mistaken, and they will be able to get your personal info.
– If you noticed unusual charges on your credit card, ATM or checking account, immediately notify your financial institution to avoid freeze on your account, and lengthy investigations.
So, what are the signs of a possible identity theft?
· When you get a credit card in the mail, which you never signed up for.
· While checking your credit report, you noticed a decrease in your credit score.
When you receive demanding letters from collection agencies.
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