Is Identity theft serious? To as many as 10 million people a year that have their identity stolen it is catastrophic. This occurs when someone uses your personally identifying information, like your name, Social Security number, or credit card number, without your permission, to commit fraud or other crimes.
Yes this is a serious problem for those people who have had their ID’s stolen as it can cost them hundreds if not thousands to clean up the mess the thieves leave behind. Consumers that are victimized by identity theft have lost out on job opportunities, or been denied loans for education, housing, or cars because of the negative information on their credit reports. There has even been some victims who have been arrested for crimes that they did not commit. So the potential for damage, loss, and stress is considerable.
How do thieves steal an identity?
Some times it starts with your misuse of your personal information. For the thief you name and Social Security number, credit card numbers, and other financial account information is as good as gold.
Skilled identity thieves may use a variety of methods to get hold of your information:
They may steal your mail, wallet, or purse.
They may get personal information from you by posing as legitimate companies through email, in a practice known as “phishing.” Or they might lie to you on the phone.
They may take your information from businesses or other institutions by stealing personnel records, bribing or conning an employee who has access to these records, or breaking into your records electronically.
Some identity theft victims even report that their information has been stolen by someone they know. According to the FTC.