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What Are the Most Common Ways to Commit
Identity Theft or Fraud?
It’s the number one source of consumer complaints at the Federal
Trade Commission (FTC), and unfortunately, it’s one of the simplest
crimes to commit. Identity theft involves information from your
daily life, from shopping, bill-paying, and even applying for a job.
Thieves take advantage of everyday opportunities to discover your
personal information, including your Social Security number (SSN),
bank or credit card account numbers, income, name, address, or phone
number, and use it to commit fraud or other crimes.
How can a stranger get to your information? According to the FTC,
identity thieves may pose as legitimate representatives of an
organization, as business professionals or agents of the government,
conning you into revealing sensitive information. Common scams
include impersonating employees from banks, credit card companies,
Internet service providers, and utility companies. If someone calls
you claiming to represent a legitimate organization, confirm this by
calling the customer service number listed on your statement or
bill.
Thieves may also use your place of employment to get the information
they need. A co-worker may steal information from your employer;
someone could hack into your company’s computer and copy employee
records; or a criminal could resort to the old-fashioned method of
bribing someone you work with for your information. Check with your
employer to find out the company policy on securing your records and
disposing of them when you’re gone.
If your employer is authorized to pull credit reports on employees
or potential customers, someone could take advantage of this access
to retrieve illegal reports. Criminals may also pose as employers,
landlords, or collection agents to pull your credit information.
It’s a good idea to order a copy of your credit report once a year
to check for unauthorized entries.
Shredding your documents before you throw them away is also good
idea, whether at work or at home. Identity thieves have been known
to sift through garbage, in the trash can or at the dump, to find
sensitive information.
The most common form of identity theft is credit card fraud.
Technology has allowed criminals to begin stealing your credit or
debit card numbers as you use the cards, “skimming” them with an
information storage device. In addition, thousands of drivers’
licenses and credit and debit cards are stolen each year. Keeping
your Social Security card in a secure location and safeguarding your
purse or wallet while at work are necessary precautions.
Even your mail is a source for identity thieves, who may complete
credit card applications in your name and go on a spending spree.
After stealing your bank or credit card statements, tax information,
or box of replacement checks, criminals are able to access your
accounts and spend the funds in your name. They may even change the
address on your existing account, diverting the bills to keep you
from recognizing the problem until it’s too late. Being aware of
your billing cycles can help you catch a discrepancy in the arrival
of your statements.
Identity thieves have a variety of ways to use your information for
their personal gain. They may shop for big-ticket items using your
credit or bank account information and then sell the items for cash.
With your SSN and date of birth, they can open new bank accounts or
apply for lines of credit. In fact, banks have granted loans to
criminals using stolen identities for purchases as large as cars.
Telephone or internet service can be set up using your SSN. Thieves
can avoid impending eviction or accumulated debt by filing
bankruptcy in your name. Perhaps the most emotionally traumatic,
police could issue a warrant for you if a criminal was arrested
using your name and failed to appear at a court hearing.
The ways that identity thieves have conceived to acquire your
personal information are numerous, but your vigilance and heightened
awareness can curb their ability to make you a victim.
For more information about identity theft prevention contact Cathy
at 949 635-4923
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Identity Theft Articles
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