According to the Federal Trade Commission, identity theft occurs when someone uses your personal information without your permission to commit fraud or other crimes. The most common type of identity theft is credit card fraud, but it can also include things like opening a new account in your name, using your Social Security number to get a job, or taking out a loan in your name. For more information about identity theft scams you can visit Watch Your Pocket.
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Identity theft is one of the most common and costly crimes in the United States. Each year, millions of Americans fall victim to identity theft scams.
Identity thieves use a variety of methods to steal your personal information. They may rummage through your trash looking for bills or other documents with your personal information on them. They may also pose as legitimate businesses in order to get you to provide them with your Social Security number, credit card numbers, or bank account information.
Once they have your personal information, identity thieves can open new accounts in your name and run up charges on your existing accounts. They may also file for bankruptcy using your name in order to avoid paying debts they’ve incurred. Identity theft can ruin your credit rating and cause financial hardship for years to come.
There are steps you can take to protect yourself from becoming a victim of identity theft:
-Shred all documents that contain your personal information before you throw them away.
-Don’t give out your personal information over the phone, through the mail, or online unless you know who you’re dealing with and you’ve initiated the contact.