Identity Theft - What it is and how to avoid becoming a victim

Thursday, August 28, 2008

Identity theft is the scourge of the day and age in which we live. One can be completely unaware of the crime for weeks after it has been exacted on them.

Identity theft is the stealing of certain bits of your personal information by a thief who then uses that information to steal your money from your bank accounts or obtain loans or other items at your expense. Then, after the crime has been committed there is little or no evidence remaining upon which authorities can depend to trace the culprit. It is a cruel crime and leaves the victim feeling vulnerable and afraid. The crime is not only the act of stealing and using the information, but in the defrauding of the victim of their own identity. There are also those purveyors of stolen information who sell it to the highest bidder.

Whatever its form, identity theft is a horrible crime because it leaves in its wake a long arduous process of cleaning up the mess left behind. The best that we can do is to take steps to protect ourselves from this crime.

Protect your information. A paradigm shift in mindset about your personal information must take place. It must be protected as completely as possible. The most important pieces of information that are coveted by thieves are your social security number, credit card numbers, bank account numbers and passwords to certain Internet sites like your online banking location. Also, you must be aware that there are those persons who would look over your shoulder to gain access to the account numbers of your credit cards that you have in your hand. All must be guarded religiously.

Consider an identity theft insurance package. There are companies who are in the business of helping protect you from becoming a victim. The foremost is www.lifelock.com and their offer to protect your identity and then if something does happen, insure the cost of fixing it up to $1,000,000. That’s a lot of money, but the monthly charge for all that they do is only $10. Go to their website and get more information. There are others and you can compare them and their features at http://www.consumercompare.org/identity_theft_protection_services.

You cannot be vigilant enough in attempting to protect what is yours. Even if you choose not to use an outside service there are things you can do to help. You can place a lock on your credit bureaus. This will prevent someone from checking your credit without your knowledge, but then, some credit card companies do not check it anyway. It is only a small piece of the overall pie that you must take into consideration.

Carefully examine your choices and then take action to protect yourself. If something happens and you have NO protection, then you will wish you had. Take the advice and make the decision now.