What Is Identity Theft
Frequently Asked Questions
- What is Identity Theft?
- How do identity thieves steal an identity?
- What do identity thieves do with a stolen identity?
- How can you find out if your identity has been stolen?
- What should you do if your identity is stolen?
- Should you file a police report if your identity is stolen?
- How long can the effects of identity theft last?
- What can you do to help fight identity theft?
What Is Identity Theft
Identity theft occurs when a thief uses an individual's personal identification information, such as a social security number, an address, and/or credit and debit card numbers without permission with the intent of committing fraud or other crimes.
The Federal Trade Commission (FTC) estimates that as many as 9 million Americans are victims of identity theft each year. Identity theft can take many different forms - thieves may fraudulently rent an apartment, obtain a credit card, or establish a telephone account in another person's name. Individuals may not find out that they have been victims of identity theft until they review their credit report or financial statements thoroughly. A key sign of identity theft is discovering any unauthorized charges, inquiries or purchases on the above documents.
Identity theft is a very serious and destructive crime. While some victims, who are able to detect identity theft early, resolve their financial problems quickly, others spend hundreds of dollars along with several months trying to repair the financial damage done by identity thieves. Because of this, some victims may miss out on job opportunities or be denied educational, car or housing loans all due to their damaged credit records. In rarer cases, victims may be wrongfully persecuted for crimes they did not commit.
