Consequences Of Identity Fraud
As hard as it is to believe, thousands of people fall for this every year, only to have their life savings stolen and whisked to an offshore account with no hope of ever recovering it.Identity Fraud: How It Happens. Most experts agree that the highest percentage of identity fraud is still a person-to-person theft, such as an unscrupulous store clerk taking account information from a check or a credit card number from a store receipt, rather than from the rising use of the Internet as a means of transacting business. Of the two, the use of existing accounts is usually detected much earlier, often by the credit card company noticing a change in spending habits and contacting the victim, or upon receipt of the first bill with fraudulant charges, and is easier to clear up. A recent study by a prominent research firm recently announced that there were over 15 million American victims of identity fraud in the past year. Never give your social security number to anyone unless it is for a transaction at your request and you trust the institution requesting the information. Do your banking online instead of writing checks. They ask that you send your bank account information so the money will be deposited directly into your account. Take advantage of the free yearly credit report offered by the big three credit reporting agencies; Experian, Equifax and Trans Union. Most offer free identity theft protection; some charge a small annual fee. Buy a shredder at a local office supply company; they are not very expensive. Another fast-growing source of identity fraud information is a scam in which the victim receives a letter or "work from home" job offer through the internet, from someone purporting to need someone in your area to help them distribute money on their business transactions. NEVER leave mail for pickup in your mailbox and try to avoid drive by mail boxes. Do not carry your Social Security card in your wallet. By following these simple guidelines and making yourself aware of the many scams being used, you can help keep yourself from becoming one
