Identity thieves can cost you money, time, your personal reputation, and more. Having your digital profile (ie credit cards, social security number, bank account numbers, driver’s license, etc.) stolen can be a nightmare come true. Let’s briefly examine how serious the problem can be.
Criminals who gain access to your personal information can make illicit purchases on your behalf. Naturally, thieves don’t pay their illicit bills and that shows up on your credit report and lowers your credit score. These same people can open new accounts and repeat the process. You may be caught off guard for months until collectors start contacting you.
People who gain access to your sensitive information may apply for student loans, cell phone accounts, rent a home, take vacations, open utility (electricity or water) accounts, obtain medical or other services in your name. You could even end up getting arrested because the “fraudulent you” was arrested and did not show up for a court hearing.
A criminal who has obtained your electronic profile, including your Social Security Number, may even obtain a job in your name, register for benefits with local, state, or federal agencies, or apply for a personal loan in your name. Each of the “threat vectors” listed above is real and happens far too often.
People in government, law enforcement officials, and merchants of all kinds are aware of the problem. The way we do e-commerce is somewhat imperfect and there is a window of opportunity for identity thieves. You wouldn’t realize there’s a problem until collectors come after you for failing to meet your fraudulent obligations.
Untangling clutter is a real problem that can cost you time, money, and your personal reputation. The task of straightening everything out can take years. There is a set process to help you do this, but you have to “cross all the ‘t’s and dot all the ‘i’s”. Otherwise, the companies to which the fraud was perpetrated may be indifferent. Some jurisdictions do not allow you to report identity theft.
A couple discovered that their identity was being used to purchase computers and ship them to an alternate address. The perpetrator would receive the shipment and presumably resell the computers. The identity of the same couple was being used to buy tires for the same purpose. The crimes were reported to local law enforcement officers and they refused to take a report. His reason for not allowing the crime to be reported was that “there are too many incidents like this for us to handle.” The bottom line is that the burden falls on the identity theft victim. The innocent individual is presumed guilty until he can prove that the charges are fraudulent.
You should do everything in your power to prevent identity theft from happening to you. You should adopt security best practices at various phases of your life and follow them. You should familiarize yourself with the threat environment and remedies and react quickly when you discover that you are a victim of identity theft.
© Alliant Digital Services, 2011.