Identity Theft And
Fraud Basics
Identity theft and identity fraud are scary things
to contend with, no matter how much money or assets
you have. Somewhere between seven and 10 million
people last year alone found themselves victim of
identity theft or fraud, and in most cases, they are
people just like you. Middle class, hardworking
people everyday fall victim to some level of this
crime, but there are measures that you can take to
prevent this from happening to you.
Identity theft is when someone steals your personal
credit cards or information and makes purchases
charged to you. Fraud is when he or she assumes your
identity and applies for credit cards, submits names
to law enforcement, or rents an apartment under your
name. It can cost you thousands of dollars to repair
the damage done by imposters, but companies are
getting better about preventing and spotting
identity fraud.
On your end, there are certain things you can do to
safeguard yourself as well. First, never give out
your Social Security number (SSN) unless absolutely
necessary and only to agencies you trust. This could
be your bank, a credit lender, a mortgage company,
or some business of this nature. As well, keep you
credit card account information safe and only give
out these numbers to reputable retailers online and
in person.
Finally, if you suspect you have been the victim of
ID theft or fraud, report it right away to your
bank, credit card companies, lending institutions,
and others who deal with your credit score directly.
The sooner you take action, the more likely you can
minimize the damage done. Your state FBI and
Attorney General's office can also be of service in
these kinds of matters. |
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