It is amazing how much identity thieves can do to damage our lives.
There was a very controversial identity theft case which the criminal already incurred more than $100,000 of credit card debt, obtained a federal home loan, bought homes and motorcycles and handguns in the victim’s name. At that time, identity theft was not a federal crime.
This case encouraged the US Congress in 1998 to create a new federal offense of identity theft. This is to give future victim an identity theft protection. The victim and his wife in said case spent more than four years and more than $15,000 of their money to restore their credit and reputation. The criminal spent only a brief sentence for making false statement to obtain a firearm. The worst was he does not make any restitution to his victim for any harm he had caused.
Unlike fingerprints which are unique and can not be given to someone else, your personal information can be used by an identity thief. These personal data can ne your Social Security Number, bank account or credit card number, driver’s license, telephone calling card number and other valuable identifying data that can be use if they fail in the hands of an identity thief.
Identity theft is a crime which someone wrongfully acquires and utilizes person’s personal data typically for their economic gain. In many cases, aside from pocket financial losses, victims need to consume more financial costs trying to restore their reputation in the community and correcting erroneous records fro which the identity thief is responsible.
The Federal Trade Commission notes that once identity theft is committed, identity thieves fake your identity. They can open a new account using your name, date of birth, and Social Security number. When they successfully obtained these important data, they would use your credit card and does not pay your bills. The delinquent amount is reported in your credit report.
Take in mind as a precaution and identity theft protection that an identity thieves can pretend as you and call your credit card provider to change your mailing address on your credit card account. If the criminal succeeds, he would run up charges on your account. You may not realize that there’s a problem regarding your bills because it was sent to the new address that you did not make.
The identity thief can also establish a cellular phone service in your name. The criminal enjoy having a phone service without having to pay any bill. But the victim would be the one will pay those rates made by the criminal.
You need also to know for your identity theft protection that an identity theft criminal can open a bank account if he obtained essential personal data about you. You can obtain bad checks that you did not commit.
You must know everything you can about identity theft protection. It is better to prevent identity theft than trying to recover from identity theft.
