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If there is a kind of thievery that is becoming more and more common it is identity theft. Identity theft is stealing someone else’s identity in order to commit fraudulent crimes and activities in the name of another person. There are different types of identity thefts and in order to prevent being victimized, you should be able to identify the types of this crime.
Here are some of the most common types of identity theft crimes:
Financial Identity Theft
This is the most prevalent kind of ID theft. This type of theft damages credit reports and often empties bank accounts. A criminal steals your identity to gain access to your credit card and bank account information. The criminal then uses your credit card to make purchases and leaves you liable for the bill.
Medical Identity Theft
This is one of the most serious forms of identity theft. A criminal uses a stolen identity in order to het medical and hospitalization benefits. The ailment claimed by the thief will form part of your medical records, which will adversely affect your health verifications.
Criminal Identity Theft
A crime committed under the criminal identity theft becomes difficult to clear. When a crime is made in your name, you can be investigated and even put in prison. This will become an expensive affair as you will have to get a lawyer to prove that you are a victim of ID theft.
Child Identity Theft
Many criminals love to commit child identity theft. They can use the identity of the child for a long time and use the stolen identity to commit various types of financial and criminal acts.
Insurance Identity theft
Insurance identity theft is claiming insurance benefits against your stolen identity. The criminal will collect the benefits from the insurance company.
SSN or NIN Identity Theft
This happens when the culprit gains access to your social security number (referred to as national insurance number in UK). The criminal uses this number to enjoy the benefits that are offered by the government security system which includes employment, pension and other benefits.
Driver’s License Identity Theft
This is usually the easiest identity theft crime to commit. When a criminal is charged with traffic violations, he can assume your identity and you are charged with the offense. This is very crucial if the offense is DUI.
Identity theft is easy to commit because it is very easy to steal information about you. ID theft can be prevented if you remain cautious in keeping your important documents safe and secured.
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Identity theft occurs when a criminal steals the identity of another person for the purpose of attaining illegitimate benefits by using the stolen name. The victim of id theft suffers a lot of regrettable consequences as they become liable for the perpetrator’s actions.
What happens when your identity is stolen?
When you are the victim of a crime involving id theft, there are too many dreadful things that can happen to you. For instance, when your financial identity is stolen and your credit card is used fraudulently, you suffer for the crime as you become liable to pay the bills. If a thief commits a crime by assuming your identity, you become the criminal in the eyes of law. Basically, you suffer the consequence of wrongdoings committed by the perpetrator.
Protection against identity theft
One way to protect your identity against theft is by procuring identity theft insurance. This kind of insurance will make it easier for you to gain back your identity without needing to spend hundreds and thousands of dollars. Sometimes, you cannot access your own financial assets while your identity is stolen. Identity theft insurance can help you a lot in this kind of a situation.
Benefits of id theft insurance:
- This insurance will minimize your loses when you are victimized. The losses will be paid by the insurance company.
- The insurance will also help you clear your name when the theft pertains to criminal activities.
- Getting back your lost identity can be very costly. The identity theft insurance will pay or reimburse your expenses for relevant to the crime including expenses pertaining to the legal proceedings.
Identity theft insurance becomes an important tool in minimizing your losses and this can also help you get over the emotional stress. The insurance can at times prevent identity theft. You will discern that there are different levels of coverage so in buying your ID theft insurance, you have to check what you need and most of all, ensure that the policy includes monitoring reports – not merely covering the incidental costs.
Since most of the identity theft happens via the internet, you will be happy to know that there are policies that can protect also your online identity. However, be sure to be watchful of your online accounts and passwords as this is still the best way to protect your online identity.
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The crime rate according to statistics is rising steadily. One of the crimes that add to the overall increase is a new type of crime known as identity theft. Law enforcers are facing a lot of problems because of the rapid growth of this crime.
Identity theft is committed when a criminal steals a person’s personal information. The purpose of the criminal is to use the acquired information for fraudulent activities that usually involve financial gains. The source of identifying information can be any of the following:
- Govt. based security numbers
- Credit card account numbers
- Banks account numbers
- National ID numbers
- Medical records
- Usernames and passwords
How ID theft is committed
Thieves involved in ID theft are very ingenuous and they find different ways by which they can get the information about a person. For instance, they can commit this crime by doing the following:
- They steal any of your identification cards.
- They go through your garbage or mail to get credit card and bank account statements.
- They hack your internet email and social media accounts.
Why are the criminals attracted to commit ID theft?
Getting information about you is easy. Committing crimes with your stolen identity is even easier. When an id theft crime is committed, it becomes really difficult to get to the actual perpetrators. This is the reason why criminals prefer to commit such id theft crimes.
Problems of victims of identity theft
To be a victim of the identity theft is a horrible experience. Your identity is fully violated and this disturbs your normal life. You will have credit issues and you will be receiving collection letters for debts that you never acquired. You can even be sued for non-payment of debts resulting in problems with the law. You will have a really bad credit record and rating unless you prove otherwise. This can be costly, stressful and detrimental to your good reputation. This can even affect your application for employment. Your life can become miserable and you will find yourself running from one door to another for help without luck.
Identity theft is now a serious crime and the victim suffers too many consequences that can tarnish his or her persona. In order to protect yourself from such crimes, you have to be careful about your vital information. You can also get id theft insurance if you think you can become a prospective victim of this sort of a crime.
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Identity theft is a crime that is affecting more and more people each year. Identity theft is the fasting growing crime in the US and the UK, and it has alone cost its US victims over fifty billion dollars.
Most identity thieves commit this crime for financial gain, but some identity thefts might also be committed by terrorists who use fake identifications to hide their activities from relevant law agencies.
Understanding what Identity theft is
Identity theft is when thieves steal someone’s identification information. Identification information is the information that identifies you, for example your birth certificate, social security number and driver’s license. Identity thieves then use this stolen information to a variety of uses which are damaging for the victim of.
Why should you be concerned about Identity theft
ID thieves steal identities for their own gain at the expense of the victims. ID thieves can use stolen identities for financial theft. Identity thieves use their victim’s identity information to open new accounts in the victim’s name or use the victim’s existing accounts fraudulently. ID thieves can open bank accounts and apply for new credit cards in the name of the person whose identity they steal.
Then these ID thieves charge up the credit cards and don’t pay a cent leaving the bill to be paid by the victim. This damages ones credit report and leads to the decline of requests for new loans and mortgages and in some cases, even the withdrawal of existing credit facilities. The victims of identity theft also have to deal with creditors who believe that it is the victim who made the purchases.
ID theft could lead to damage besides financial loss. ID thieves steal identities as a mask for their illegal activities. If an identity thief is caught for felony and is using your identity, the report will be drawn up in your name. And when these thieves do not show up in court a warrant will be issued in your name. Clearing up such a matter is a huge hassle and is something that harms your good reputation.
Identity theft should concern you for if your identity is stolen, identity thieves can potentially even get your medical, employment and government benefits. Identity thieves use social security and driver licenses to do so. Identity thieves may also use personal identity information to file fraudulent tax returns in the name of the person whose identity they have stolen.
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All financial experts advise that you need to check on your credit report from time to time. Monitoring your credit report will prevent you from being a victim of identity theft. People complain about the bad manner of conducting business in the financial market and think that this is what invites id theft crimes. However, studies made on the behavior of the economic parameters show that people who suffer ID theft crimes are not proactive. A lot of people do not think their credit rating is an important factor, and they only take notice of this when identity thieves attack them.
Usual reason for checking the credit rating
People check on their credit rating whenever they want to borrow money. The credit rating speaks of your success or failure to pay your loan accounts, including your credit card bill. This is no longer the sole reason today why you are advised to monitor your credit score.
Prime reason to check credit rating
Today, the more important reason why people are taking a look at their credit rating is to prevent identity theft. ID theft criminals can use your identity in obtaining loans using your credit card or personal credentials. It takes time to repair your identity after this crime, so it becomes paramount to protect yourself from this fast rising crime by checking your credit report on a regular basis.
What is identity theft?
Id theft is stealing of your identity by another person. The thief makes use of your hacked personal information and commits crimes in your name. The main intention is to gain financial benefits such as using your credit card and leaving you accountable for his purchases.
If you are a victim of identity theft, it may take time before you discover it. Sometimes, you are caught unaware and you will only find out about it several years after when your credit history is completely tarnished.
How to check your credit report
There are major credit bureaus that handle credit rating. You can approach people in these bureaus or access your credit report through their website. To be on the safe side, you will just have to download one report every 4 months. The website has a built in calculator so you can use this to check on your credit rating. Your credit score will be based on the information in your credit report.
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