Information and Resources about Identity Theft

There are basically five different kinds of identity theft.  The one most commonly known, primarily due to the “cute” commercials on TV, is financial identity theft. 

With your information, a financial identity theft thief can access existing accounts, open new financial accounts, take out loans, obtain credit cards, open utility, cable or cellular accounts, buy merchandise, cars or homes, enjoy expensive vacations and more, all in your name and without your knowledge.  Discovery often comes months and years after the fact when you are unexpectedly denied for credit or a loan, or you start receiving calls and letters from creditors.   

Thieves can access information by “pretexting” or calling on false pretenses (calling the bank and pretending to be you).   People can call you directly and pretend to be a bank or other financial institution.  “Skimming” involves using computers to read and store the information encoded on the magnetic strip of an ATM or credit card when it is used legitimately.  Once stored, the information can be entered onto any other card with a magnetic strip.   ”Phishing” is the act of sending false emails proclaiming that they are from your bank or Ebay or PayPal, and asking you to enter your personal information to clear an alleged “problem”.   

“Shoulder surfing” involves people watching you from a nearby location as you enter a credit card number or pin number.  “Dumpster diving” is well known for people going through your garbage to obtain copies of statements, checks, credit card offers, making it easier for thieves to get control over your accounts.   Unlocked mail boxes allow thieves to intercept and redirect your mail to another location so bills or bank statements showing unauthorized withdrawals will never be seen by you until after the damage is done.  Hacking into computers, keyloggers (logging your keystrokes to get your pin numbers) are also used to steal your identity.  These are only some of the ways that thieves can access your financial information which once in hand, they can use to run up debts in the tens of thousands of dollars under your name. 

Your employer may also lose when employees have to take off to deal with credit problems brought about by fraudulent financial identity theft.  While attempting to deal with the problems, you may be denied loans, mortgages and employment or even be prevented from opening up a new bank account.  Unfortunately, even when you think you’ve solved the current problem, new fraudulent charges may continue to appear long afterwards as the nightmare continues. 

“You don’t get paid for the hour.  You get paid for the value you bring to an hour.” Jim Rohn