Identity Theft and Victim Impacts

The percentage of Identity theft in U.S. households that were victims of one or more type of identity theft between 2005 and 2010 increased from 18.5% to 23.70% according to a report by the Bureau of Justice Statistics, This article addresses the definition of identity theft and the impacts it can have should you become a victim.

Definition of Identity Theft

The IDRC or Identity Theft Resource Center defines Identity Theft as “a crime in which an impostor obtains key pieces of PII or personally identifying information such as driver’s license numbers, social security numbers, for their own personal gain”.

Personal Information Used by Identity Thieves

In addition to driver’s license number and social security numbers, your full name, address, telephone numbers and date of birth are key personally identifying information you should protect. Bank account numbers, credit and debit card numbers are also dangerous to give out whether online or in a store. All of these sources should be revealed only to businesses or companies you know are legitimate. If any of the above personal information is solicited by phone or email, and you didn’t initiate it, don’t reveal it!

Consequences of ID Theft That Could Impact You

Sometimes it is easy to think, “This will never happen to me,” but you must consider ID theft can and could happen to anybody including you. If or when you ever become a victim of identity theft, there will no doubt be an impact on you, whether it involves actual financial loss or not. First, it is generally a year or more before many find out they are victims! You must be always looking and checking your bank statements and credit card balances etc. so you will find out sooner than later if someone else has used your accounts! Second, it takes a long time once you find out you are a victim of identity theft before you get the issues solved with your bank, credit card companies, social security office, DMV office others,and costs you money to replace social security cards, driver’s licenses, birth certificates and get credit card debts incurred by the thief resolved. Other consequences that could result from identity theft are tarnished credit reports or even warrants for (you) the victim’s arrest if the thief has outstanding warrants and you are mistaken for them by authorities. These impacts are considerations we must take seriously and we need to be persistent and proactive in watching all of our financial statements and not giving away our personal information haphazardly.

Awareness is key to avoiding becoming a victim of identity theft. To find out more about how to protect yourself, read this related article: Six Sources Thieves Use To Steal Your Identity

Reference:

Idrc.org

Bureau of Justice Statistics
http://bjs.gov/index.cfm?ty=pbdetail&iid=2207


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