A Guide to Identity Theft
What is Identity Theft?
Identity theft is a term used to describe a fraudulent activity in which your vital personal, business, or financial data including social security card, credit cards, bank statements, and online account details is misused or stolen by someone for their personal growth. A person who becomes a victim of identity theft may have to face many serious consequences, from huge debts and employment loss to jail arrests.
Who is more prone to identity theft?
Anyone could be a target for identity theft. In other words, anybody could be a victim of identity theft irrespective of age, sex, and income levels.
What are the different types of identity theft?
Different types of identity theft involve:
When do you come to know about identity theft?
In most cases, you may not be aware that you have become a prey of identity theft initially, and you may come to know only when credit card companies, creditors, or collection agencies inform that you have not cleared your debts. Sometimes, you may come to know only when you check you bank or financial statements to find transfers or withdrawals that you have not made.
Why should you be worried and careful about identity theft?
Since it involves the stealing of most important information, it may badly affect your good credit. This is because thieves primarily use your information such as credit card and social security card number to withdraw more cash, thereby leaving debt on your name. Further, the victim of identity theft may also lose his job. Sometimes, thieves utilize your personal information to avail of auto loans in your name or set up an internet or phone connection in your name. There are also instances in which you may be charged with a criminal offence due to identity theft.
Tips to reduce or prevent identity theft
Even though it is difficult to prevent identity theft completely, you may reduce the chances of identity theft. Here are some tips to reduce the risk of identity theft:
What are the different ways through which your identity could be lost?
Your identity could be stolen in a number of ways, from stealing records from your office, bribing an employee who keep track on your records and hacking your company’s computers to skimming and stolen wallets and purses. According to the studies reveled by credit card companies, about 50% of identity theft occurring in the nation is obtained via stolen wallets.
Is there any high tech option to overcome identity theft?
iWallet – the high tech cash and credit card wallet launched by Iwallet Corp – has been regarded as an answer to overcome identity theft. With its hard case construction and biometric fingerprint scanner, one could open this wallet only if it recognizes your finger print. An added advantage is that it also protects your mobile phone, as it could be paired with the selected PDA cellular phones via the Bluetooth Technology.
Identity theft is a term used to describe a fraudulent activity in which your vital personal, business, or financial data including social security card, credit cards, bank statements, and online account details is misused or stolen by someone for their personal growth. A person who becomes a victim of identity theft may have to face many serious consequences, from huge debts and employment loss to jail arrests.
Who is more prone to identity theft?
Anyone could be a target for identity theft. In other words, anybody could be a victim of identity theft irrespective of age, sex, and income levels.
What are the different types of identity theft?
Different types of identity theft involve:
- Credit Card Identity Theft
- Social Security Card Identity Theft
- Driver’s License Identity Theft
- Medical Identity Theft
- Criminal Identity Theft
- Online Identity Theft
When do you come to know about identity theft?
In most cases, you may not be aware that you have become a prey of identity theft initially, and you may come to know only when credit card companies, creditors, or collection agencies inform that you have not cleared your debts. Sometimes, you may come to know only when you check you bank or financial statements to find transfers or withdrawals that you have not made.
Why should you be worried and careful about identity theft?
Since it involves the stealing of most important information, it may badly affect your good credit. This is because thieves primarily use your information such as credit card and social security card number to withdraw more cash, thereby leaving debt on your name. Further, the victim of identity theft may also lose his job. Sometimes, thieves utilize your personal information to avail of auto loans in your name or set up an internet or phone connection in your name. There are also instances in which you may be charged with a criminal offence due to identity theft.
Tips to reduce or prevent identity theft
Even though it is difficult to prevent identity theft completely, you may reduce the chances of identity theft. Here are some tips to reduce the risk of identity theft:
- Be careful always when you carry your important personal or business information, especially when you are in busy airport and metro station, noisy restaurant, bustling city street, or while crossing the road
- Secure your critical personal and business information in a safe place
- Equally important is to secure your online information via installing the latest software
What are the different ways through which your identity could be lost?
Your identity could be stolen in a number of ways, from stealing records from your office, bribing an employee who keep track on your records and hacking your company’s computers to skimming and stolen wallets and purses. According to the studies reveled by credit card companies, about 50% of identity theft occurring in the nation is obtained via stolen wallets.
Is there any high tech option to overcome identity theft?
iWallet – the high tech cash and credit card wallet launched by Iwallet Corp – has been regarded as an answer to overcome identity theft. With its hard case construction and biometric fingerprint scanner, one could open this wallet only if it recognizes your finger print. An added advantage is that it also protects your mobile phone, as it could be paired with the selected PDA cellular phones via the Bluetooth Technology.
