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Understanding Identity Theft

By Ruth Racey
Published: Friday, June 4th, 2010

Your identity is something that is supposed to be only yours and nobody should be able to steal this but the fact is that identity theft is a common problem in many countries. Identity theft is a serious problem that should be tackled as soon as it is identified. This article will help you understand what identity theft is and two types of common types of thefts.

Financial Identity Theft is the Most Serious Kind of Theft

Financial theft is definitely the most serious kind of theft since this involves stealing of bank accounts, credit cards and other financial aid that you have kept for your own use. In this kind of serious theft the perpetrator pretends to be you and tries to obtain funds from your financial accounts. The perpetrator will try to obtain one or more identity proofs that he is you and he will use that identity proof to get funds from accounts that can only be accessed by you.

In order to get funds he will present the bank or financial company with your accurate name, address, phone number or any other information that validates him as the actual owner and then after being validated he will use this to his advantage. Some perpetrators also bust out your bank accounts by issuing a lot of bad checks or empty ATM envelopes.

The perpetrator will then claim to be a collecting agency and try to get money from you. If you have been notified that bad checks are being issued from your bank account or if you are receiving bills for goods or services that you don’t recall buying then chances are that you are suffering from financial theft.

Medical Identity Theft is yet another Serious Kind of Theft

Some perpetrators access medical information of others and pose as the real person to enjoy medical benefits. The risk of this kind of theft is that they can order goods and services that you will have to pay for and if the goods they order are illegal in any way then you will be held responsible for the perpetrators action. If you are being charged for medical goods and services that you have not opted for then, chances are that you are suffering from medical theft.

Financial theft should be taken very seriously since this not only affects your financial accounts but it also affects your credit scores adversely. If you feel that you are being robbed of your identity then you should consider contacting an authorised company to handle the situation as soon as possible.

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