What Is Identity Theft? The Answer Is Here!
Identity theft is when someone steals a sufficient amount of your personal information, that they are actually able to adopt your identity. They then are able to open new credit accounts in your name and/or directly access your bank accounts.
What Is Identity Theft? - Bank Fraud
When a criminal really wants to make a big score of cash, while pretending to be you, he walks into a bank and takes out a big loan. Bank fraud, by the legal definition, occurs when another person obtains a loan from a financial institution by impersonating someone else. Everything seems to be in order according to the loan officer, because the identity thief has all the personal information that includes date of birth, social security number, etc. The usual procedure would be for the loan officer to run a credit bureau check before he or she approves the loan. A majority of the time the credit check shows excellent credit, with no warning flags, because the victim has not yet discovered their personal information has been stolen
What Is Identity Theft? - Checks That Bounce
Another form of bank fraud occurs when the thief starts writing checks out of your account and eventually drains it dry. If checks are written against fraudulently opened checking accounts, then the person receiving the checks will take the financial loss. Merchants are constantly telling their sales people to check photo ID and consider if the date of birth matches the person's age.
What Is Identity Theft? - Your Mail
In the majority of cases, when your private personal information is stolen, it is taken either from your garbage can or your mail box. The quickest way to eliminate the risk is by opening a PO Box and shredding your mail before you dispose of it.
What Is Identity Theft? - Lost Or Stolen Wallet
Losing a wallet or purse has happened to most of us, and there is no feeling quite like the one you experience when you discover it's gone. Now the thief has everything; identification, cash, and credit cards.
Do not discount the risk of your pocket being picked, especially in crowded places where everyone is walking around with large amounts of cash.
What Is Identity Theft? - Skimming
Skimming is a technique used by thieves to steal your personal identification number (PIN), so they can drain your account of cash. This is accomplished by either peeking while you are entering the number into the machine or getting it remotely from a nearby location.
What Is Identity Theft? - Your Personal Computer
Make sure you have active anti-spyware tools on your computer and never give out any of your private information via an E-Mail. Even if the E-Mail says you have won a million dollars, don't give them your social security number or any of your personal information.
