Due to the introduction of the information age identity theft is at an all time high. Over 50,000 people each year fall victim to identity theft from all over the world. However, you do not need to become a victim because there are a variety of different ways that you can learn to protect yourself.

Guarding against this type of crime requires learning the ways to protect yourself against it. You will first need to be sure that you have a strong understanding of what the definition is. Basically, it is defined as another person taking your personal information such as your social security number, bank account number and home address in an attempt to use it as their own identity. It is one of the number one crimes that is facing our nation today. With the ability to use your personal information the identity thieves can destroy your credit quite quickly.

Millions of US citizens and billions of people throughout the globe are victims of identity theft each year. These victims need to waste a year or more and more or less $1500 to clear their names and repair their credit score.

Seeing as identity theft does not reveal any signs of being stopped soon, early detection is the single solution that can impede you from becoming a target. After all, you would not want someone messing up your credit rating that you have worked so hard for, or learn that your savings account has been emptied and your credit cards run up to the maximum.

For an identity thief, acquiring your personal data is painless enough. It can be as innocent as somebody probing through your trash, stealing mail from your mailbox, watching over your shoulders as you punch in your pin numbers at an ATM, or sending e-mails that seem as if it is from a genuine company and next sending you to a phishing web site to gather your private details.

Identity theft has become one of the fast growing crimes in this country, as, with more and more everyday tasks being done online, stealing your identity is easier than ever before. Take a minute to think about how many people and businesses you have given your details to in the past month – probably at least 5, right?

Whether it be signing up for a store card, transferring money between bank accounts, or taking out home insurance, there are plenty of opportunities for others to get their hands on your personal details. Most of the time, your details will be taken and stored safely, but the motivation is always there for people to take advantage of you because of the financial benefits to be had from illegally posing as someone else.

Identity theft is one of fastest growing crimes in the United States. The loss of your personal identity is not only financially devastating, it is frightening and violating.

One reason is that so many people use the internet to make purchases, do their banking, and other activities that require the sharing of personal information. We often don’t realize the exact paths that this information takes to get to its destination.

Many of us take it for granted that our information will be safe and will get where we need it to go. It is far too easy, however, for it to fall into the wrong hands. When it involves sensitive information like social security numbers, credit card and bank account numbers, and more, this can be devastating.

It is important for people to have protection from identity theft which is has already spread all over the world like a malignant disease. This type of thievery has been in existence since the earliest days of human civilization. In these modern times, the crime has already infected the internet where a lot of innocent people had unfortunately met their untimely demise.

Credit monitoring services monitor if your mailing address on your credit card account has been changed. Identity thieves can change your mailing address, and have your statement sent to the new address so they can get more of your financial information like your credit card numbers, and run up charges on your account.

Credit monitoring services can’t snatch credit applications out of thieves’ hands or prevent lenders from opening accounts for the wrong people. What the better services can do is give you some early warning that there’s a problem, which can give you a head start in cleaning up the mess. Credit monitoring services are designed to immediately inform you of any changes to your credit report. The credit check monitoring service alerts you of significant changes to your credit file within 24 hours, so you can feel confident and secure with instant ID fraud protection.

Prices and services vary widely. Many of the services only monitor one of the three major consumer reporting companies. If you’re considering signing up for a service, make sure you understand what you’re getting before you buy. Also check out the company with your local Better Business Bureau, consumer protection agency and state Attorney General to see if they have any complaints on file.

Early detection of a potential identity theft can make a big difference. Keep an eye out for any suspicious activity by routinely monitoring:

Your financial statements.

Monitor your financial accounts and billing statements regularly, looking closely for charges you did not make.

Your credit reports.

Credit reports contain information about you, including what accounts you have and how you pay your bills. The law requires each of the major nationwide consumer reporting agencies to provide you with a free copy of your credit report, at your request, once every 12 months. If an identity thief is opening credit accounts in your name, these accounts are likely to show up on your credit report. To find out, order a copy of your credit reports.

Once you get your reports, review them carefully. Look for inquiries from companies you haven’t contacted, accounts you didn’t open, and debts on your accounts that you can’t explain. Check that information, like your Social Security number, address(es), name or initials, and employers are correct. If you find fraudulent or inaccurate information, get it removed. Continue to check your credit reports periodically, especially for the first year after you discover the identity theft, to make sure no new fraudulent activity has occurred.

The best way to find out if your identity is stolen is to monitor your accounts and bank statements each month, and check your credit report on a regular basis. If you check your credit report regularly, you may be able to limit the damage caused by identity theft.

Unfortunately, many consumers learn that their identity has been stolen after some damage has been done.

* You may find out when bill collection agencies contact you for overdue debts you never incurred.
* You may find out when you apply for a mortgage or car loan and learn that problems with your credit history are holding up the loan.
* You may find out when you get something in the mail about an apartment you never rented, a house you never bought, or a job you never held.

Realistically, 80% to 90% of credit card fraud occurs unnoticed by consumers, until it’s too late.

Once they have your personal information, identity thieves use it in a variety of ways.

Credit card fraud:

* They may open new credit card accounts in your name. When they use the cards and don’t pay the bills, the delinquent accounts appear on your credit report.
* They may change the billing address on your credit card so that you no longer receive bills, and then run up charges on your account. Because your bills are now sent to a different address, it may be some time before you realize there’s a problem.

Phone or utilities fraud:

* They may open a new phone or wireless account in your name, or run up charges on your existing account.
* They may use your name to get utility services like electricity, heating, or cable TV.

Bank/finance fraud:

* They may create counterfeit checks using your name or account number.
* They may open a bank account in your name and write bad checks.
* They may clone your ATM or debit card and make electronic withdrawals your name, draining your accounts.
* They may take out a loan in your name.

Government documents fraud:

* They may get a driver’s license or official ID card issued in your name but with their picture.
* They may use your name and Social Security number to get government benefits.
* They may file a fraudulent tax return using your information.

Other fraud:

* They may get a job using your Social Security number.
* They may rent a house or get medical services using your name.
* They may give your personal information to police during an arrest. If they don’t show up for their court date, a warrant for arrest is issued in your name.

Identity theft starts with the misuse of your personally identifying information such as
your name and Social Security number, credit card numbers, or other financial account
information. For identity thieves, this information is as good as gold. Skilled identity thieves may use a variety of methods to get hold of your information,

including:

1. Dumpster Diving. They rummage through trash looking for bills or other paper with
your personal information on it.
2. Skimming. They steal credit/debit card numbers by using a special storage device when
processing your card.
3. Phishing. They pretend to be financial institutions or companies and send spam or
pop-up messages to get you to reveal your personal information.
4. Changing Your Address. They divert your billing statements to another location by
completing a change of address form.
5. Old-Fashioned Stealing. They steal wallets and purses; mail, including bank and
credit card statements; pre-approved credit offers; and new checks or tax
information. They steal personnel records, or bribe employees who have access.

6. Pretexting. They use false pretenses to obtain your personal information from financial institutions, telephone companies, and other sources. Pretexting is the practice of getting your personal information under false pretenses.

Pretexters sell your information to people who may use it to get credit in your name, to steal your assets, or to investigate or sue you. Pretexting is against the law.

Pretexters use a variety of tactics to get your personal information. For example, a pretexter may call, claim he’s from a research firm, and ask you for your name, address, birth date, and social security number. When the pretexter has the information he wants, he uses it to call your financial institution. He pretends to be you or someone with authorized access to your account. He might claim that he’s forgotten his checkbook and needs information about his account. In this way, the pretexter may be able to obtain other personal information about you such as your bank and credit card account numbers, information in your credit report, and the existence and size of your savings and investment portfolios.

Keep in mind that some information about you may be a matter of public record, such as whether you own a home, pay your real estate taxes, or have ever filed for bankruptcy. It is not pretexting for another person to collect this kind of information.

By law, it’s illegal for anyone to:

* use false, fictitious or fraudulent statements or documents to get customer information from a financial institution or directly from a customer of a financial institution.
* use forged, counterfeit, lost, or stolen documents to get customer information from a financial institution or directly from a customer of a financial institution.
* ask another person to get someone else’s customer information using false, fictitious or fraudulent statements or using false, fictitious or fraudulent documents, or forged, counterfeit, lost, or stolen documents.