There are two types of identity theft. "Account takeover" occurs when a thief acquires your existing credit account information and purchases products and services using either the actual credit card of simply the account number and expiration date. "Application fraud" is what some experts call "true name fraud." The thief uses your SSN and other identifying information to open a new account in your name. Victims are not likely to learn of application fraud for some time, because the monthly account statements are mailed to an address used by the imposer.
Even though victims are usually not left to pay their imposers' bills, they are however left with a bad credit report and must spend months and even years regaining their financial health. In the mean time they have difficulty getting credit, obtaining loans, renting apartments, and even getting hired.
I guess that the bottom line it that it can happen to anyone and the impact of it can be felt for a long time after you think you have cleared up the matter. The best position to take is not get yourself in that situation, although sometimes it is out of your control. Little things like not giving out your social security number over the phone, memorizing your PIN numbers and not having them written down, shield you have when making a withdrawl at an ATM, look for people watching and if someone seems suspicions go somewhere else. Small steps can be taken to protect yourself that can have a huge impact on your credit score and number of headaches.
5 comments:
Good Post! I agree that people think it couldn't happen to them but it is quite common. In the book it actually showed that 43% of people in 2003 reported identity theft as a crime they encountered. It happens more then we think and with the precautions you stated it can only help to ensure that we're doing what we can to prevent it
I really like your post and your topic. ID theft is a very serious issue and like you said due to the internet it is only getting worse. As a whole we need to do something and I like your ideas as well.
This was a great topic. I totally agree with you in that we need to be very careful with our personal information. My sister was actually an identity theft victim. Apparently someone in North Carolina was trying to buy a brand new Dodge Avenger under her name. Thank got for those annoying car dealerships always calling people because, had it not been for them, the whole thing could have gone unnoticed.
You write very well.
I am an African American woman with naturally kinky/coarse hair. I decided to stop using relaxers over a year ago, furthermore straightening my hair became a difficult task. I could never seem to get the
results I was looking for out of a flat iron without going to a professional hair salon and spending $65.00 a visit.
Post a Comment