Defend Your Identity: Define Identity Theft

There are many things or personal possessions that can be owned. Sometimes these items have been purchased, received as gifts or passed down 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.

And what’s the problem with owning things? They can be stolen. Or damaged by fire, flood or earthquake.

One other item that can be stolen from individuals is something extremely personal. That item is a person’s identity. To increase the general awareness of identity theft it is important to define identity theft. In order to define identity theft it is imperative to know how society defines identity theft and how it can occur.

What Is Identity Theft?

Identity theft occurs when someone misrepresents themselves as another person, usually for the purpose of committing fraud. This could include illegally accessing that person’s financial accounts or committing criminal acts in their name.

Also, to properly define identity theft, it is critical to define the negative impact experienced by the individual whose identity has been stolen. One of the negative repercussions of identity theft is financial loss. Often an identity theft crime will affect a person’s bottom line as thieves access credit cards, bank accounts, etc.

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 often occurs when critical, personal pieces of information are somehow obtained by an identity thief.

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 these numbers are obtained by an identity thief, they can use them to pose as you to banks, credit companies or other services. This personal information should never be given out glibly.

Often a company is very clear that they will never ask for these sensitive numbers unless the customer has initiated the call. In addition, often a company will only ask for the last four numbers of a person’s 9 digit social security number.

Identify thieves can also obtain this information by going through your trash or stealing your wallet or purse. It’s important to shred all paperwork that contain important information before you throw it out.