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Identity Theft

Identity theft has is becoming one of the fastest growing crimes in America . An estimated 9.9 million victims were reported last year according to an FCC survey.

Information Security Magazine (February 2004 pg. 20) said there were 120,000 complaints of online fraud alone in 2003, a 60% increase over 2002. To get a victim's credit cleared it usually takes months, or even years, and thousands of the victim's money.

What is Identity Theft?

Identity theft (also called identity fraud) happens when a person steals a victim's identifying information and uses it to get credit, credit cards, apply for bank loans, and even steal money from existing accounts. Due to the nature of the crime, the victim may not know that this has happened to them from months or even years. Most victims find out that they have been taken advantage of when they apply for a loan or creditors call trying to collect on the debts the criminal racks up. The crimes involving identity theft can range from traffic violations to felonies.

How Does Identity Theft Happen?

Identity theft is a crime that is fairly easy to commit; all that is needed is Social Security Number, Name, birth date, and maybe other identifying information like an address. After this information has been obtained then it is fairly easy to get a credit card in your name, a drivers license with their picture, or a loan to buy a car. The options range from small "petty" stuff like utilities in your name to buying a car with a loan in your name. Once the thief gets this information and opens the first account, the next accounts are easier to open and they get richer and richer with each account. During this whole time the victim may have no idea what is going on until they try and get a loan and are denied or when creditors come knocking on their door.

Ways to prevent identity theft in the workplace.

• BraunConsulting.com has good ideas of keeping employee and client information from getting into the wrong hands.

Many of the things mentioned should be common practice in offices, but many times are neglected.

• Password protect sensitive information with non-dictionary passwords and have the passwords change frequently (30 days is recommended)
• Shred documents that contain personal information about employees, clients, or anybody that you have contact with
• Do not use Social Security Numbers as a form of identification.

How to prevent identity theft in your personal life

Visit MSN Money's web site for 10 ways to stop identity theft.

Some of the basic rules of thumb are:

• Don't give out your Social Security Number. This is a gold mine for a identity thief to get credit
• Check your credit regularly; about every 6 months is best.
• Get your Social Security Number removed from your checks if it is printed on there.
• Purchase a shredder and shred all documents before putting them in the trash. Getting applications for credit cards, loans or other things can be achieved just by going through a persons trash.

Other Sites on Identity Theft

• IdentityTheft.org
• Braun Consulting
• PrivacyRights.org
• Consumer.gov