Many financial institutions define identity theft as an occurrence where a person's information is stolen and used to access his or her bank accounts and credit cards.

Identity theft can occur when some unscrupulous person gets hold of personal information such as a driver's license or documents that contain credit card numbers, social security numbers etc.

Identity thieves sometimes resort to stealing whole mailboxes from homes and offices to get information for manufacturing bogus identities. Other places they target for stealing personal information in bulk are credit bureaus, hospitals and stores, including places where people's records are maintained.

Is identity theft on the rise? Absolutely, the answer is yes. In fact, it is so widespread, local law enforcement cannot investigate the crimes. Local police define identity theft as a crime mostly driven by the drug addiction habit.

A great amount of ID theft is committed online. Identity thieves resort to phishing scams, using spyware or hacking personal accounts of people to get hold of private information.

Many times an ID thief posing as a bank representative, government official or Internet service provider may call people on the phone to convince them to disclose their personal information. A thief may even send letters or emails under the pretext of data verification or use some other ploy for getting private information.

Using information that is gained fraudulently, an ID thief creates a false identity in order to obtain credit cards, mortgages or loans in the name of the person whose identity has been stolen. These bogus credit cards are quickly used for making indiscriminate fraudulent purchases at the expense of the 'real' person, making him responsible for huge debts, which he never initiated.

Things are made easy for the identity thief when people become careless about protecting their personal information. Many people throw junk mail, bank communication, unused/cancelled pay-in-slips, cancelled checks/check stubs, doctor's bills, insurance papers etc. in dustbins without shredding.

This makes sensitive personal information available to ID thieves looking for such information by sifting through dumpsters.

You never know who may steal your identity. Hired help, sales representatives, store clerks, friends and relatives, or your landlord is among those who are in a position to get your personal information without much trouble.

Sadly, family members are commonly found committing identity theft. In such situations, or where friends or partners are involved, the victim may not be willing to report the offense to the concerned authorities for fear of breaking relationships.

It is not very difficult for someone to detect if his or her identity been stolen.

Some obvious signs of identity theft are:

• receiving bills for items never bought
• receiving credit cards that had never been applied for
• receiving calls from debt collectors for payment related to products or services never bought
• denial of credit for no apparent reason

As we define identity theft we must also understand the vital steps we must take to check for loss or damage.

Once you suspect you are a victim, it is imperative that you immediately contact the concerned authorities for cancellation and reissue of a lost driver's license or any other government issued identification document.

Also, make certain to close down any credit card, department store or other credit account that have been placed in jeopardy.

If your social security number is stolen, one of the three credit reporting agencies (i.e. Experian, Equifax or TransUnion) should be contacted immediately with a request for placing a fraud alert on the credit file.

This will prevent any bogus credit cards from being issued or any bogus accounts from being opened. The credit agency receiving the information will automatically inform the other two credit reporting agencies of the matter.

We hope this articles has helped you to understand and better define identity theft.

» History Of Identity Theft - Technology Supports More Crime
The history of identity theft revealed an explosive number of crimes being reported from average consumers. ID theft is occurring in America at an alarming rate, and getting worse.

» Identity Theft Articles - Key Points To Remember
The are many identity theft articles now available to readers online. Review our series of articles on the subject of identity theft at www.debt-to-income.com.

» Define Identity Theft Awareness - Prevention Is Truly The Key
Identity theft awareness is not as well known as you might think. Despite the growing number of cases, most people still know very little about how to protect themselves from becoming a victim.

Return to "Main Articles" Page from.... define identity theft article.