Identity theft is a serious crime. Somebody uses your personal information without your permission to commit fraud or other crimes. You’re left cleaning up the mess after the thieves have trashed your good name and credit record. On this page we explain how identity theft works and what you need to do if your identity is stolen.
Credit card companies are banking on new technology to stem the tide of identity theft. Ilyce Glink discusses the latest technology ideas for preventing identity theft and credit card fraud, as well as a few tips to protect yourself against identity theft.
Many social security numbers are stolen to be used on false tax filings. Sometimes a child's social security number is used in a false return to boost a refund. Make sure your social security number isn't stolen and used for a fake tax return.
What can you do if you've been the victim of identity theft? It's unusual for the Social Security Administration to issue a new number, even in cases of identity theft, so you should work with the credit reporting bureaus to clean up your credit. When someone has stolen your identity you should also contact the police and your creditors.
While a simple filing system is inexpensive to purchase and easy to put together, it can quickly get out of hand if you don't purge unnecessary documents at the end of the year. Just after tax time is an excellent time to purge what you don't need. Make sure you shred anything that has personal information.
Last year, about 10 million Americans were victims of identity theft. That works out to about 1 in every 30 people. Identity theft cost $5 billion in out of pocket expenses and it cost companies $50 billion to fix. Here are some gadgets that can help protect you from identity theft.
If you've been the victim of identity theft, the Federal Trade Commission has made it easier for you to repair your credit. The FTC has one form for victims of identity theft to report the crime to your creditors and credit reporting bureaus. The FTC says all three credit reporting agencies and dozens of major creditors have agreed to accept the form from victims of identity theft.
Your credit history is the single most important piece of information a lender will assess. And with identity theft on the rise, your credit history could be in danger. All someone needs to steal your identity is access to your social security number - which is everywhere. Here are some ways in which you keep your financial identity safe.
The key to your personal identity is your social security number. A unique number is issued to each U.S. citizen at birth, and typically this is the number used on bank account applications, on insurance forms and even your driver's license.
Guard against identity theft by "opting out" of identity sharing arrangements. Companies share your information within their own corporate world, to the different companies they own, and they share information with outside companies, vendors and organizations with whom they do business. The Fair Credit Reporting Act gives you the opportunity to limit the sharing of information both within the company and to the other companies with whom they do business.