About Identity Theft: The Picture Is Anything But Rosy
There are certainly some very alarming facts available that will reveal to us more useful information about what identity theft is and none of what you will discover will be of any comfort to you. Take for instance, facts provided by the Federal Trade Commission that tells us that more than, it is believed, twenty-seven million people were victimized by identity thieves. In fact, the year 2002 alone accounted for as many as, it is believed, just fewer than ten million people.
Millions Lost By Credit Card Companies
Another piece of intriguing information revealed and which tells us more about identity theft is that the two major credit card companies together had to contend with estimated losses on account of identity theft that aggregated to, it is believed as many as twenty nine million dollars in the year 1996 and these figures rose further by another estimated forty-three percent to more than one hundred and fourteen million dollars just four years later in the year 2000.
Thus, the more you learn about what identity theft is, the more concerned you are going to be about the safety of your identity and because this form of crime continues to rise, you will have no option but to learn everything that there is to know about how it could affect you should you be unfortunate enough to also become a victim of identity theft.
Some of things that you will need to be aware of when delving into the truth about identity theft is that you are more than likely to end up being at the wrong end of credit fraud, amongst other things, because identity thieves can easily hijack your existing credit account by simply making alterations to your billing address.
Another worry that you will have to deal with and which should make you want to know more about what identity theft can do to you is that you will also be at risk of becoming a victim of phone or even utility fraud. The sad truth is that identity thieves can easily take out new phone or even wireless accounts by using your stolen identity and they can also use gas and electricity in your name and have you foot the bill.
Another common risk that you should know more about when it concerns learning more about identity theft is that identity thieves can also use your stolen name and address as well as account number and then issue counterfeit checks through special software that prints out blank checks. Also, the thieves can even misuse your credit information and your name and use it to take out a loan and thus make you liable to facing the consequences of bank and finance fraud.
What it all boils down to is that the more you learn about identity theft, the worse your fears are going to be, and so, if you are seriously concerned about protecting your identity, you should become well acquainted with the many ways that identity theft is practiced and then act in a manner to prevent the same from affecting you as well.
