What is Identity Theft?

We’ve been writing Fraud Prevention posts for some time now, but let’s take a step back and define exactly what Identity Theft means.

Identity theft is when a thief steals your personal information, without your knowledge or permission, for the purpose of posing as you in some way for financial or other gain. It is a federal crime and has topped the U.S. Federal Trade Commission’s ranking of consumer complaints for 15 years. Although anyone can be affected by identity theft at any time, some common targets are children, college students, veterans, military members and seniors.

A newer type of identity theft, called synthetic identity theft, is growing and involves a thief using your personal information, combined with some fake data, to create a brand new and completely false identity. This type of identity theft is harder to detect and can lead to more damage when left undetected for some time.

Although no one is completely safe from identity theft, some of the tips that we post can help reduce your chance of being affected by this type of attack on your personal information. Feel free to share our posts with friends and family and remember, your personal information is only as secure as the least secure way it is stored or disclosed.

Source: Identity Theft: Protect Yourself, Know What to Do by Positive Promotions