Identity Theft
Identity theft is a criminal act where an individual's personal information is used fraudulently by an impostor for financial or legal benefits. With the rise in the transmission of personal information over the Internet, identity theft increased markedly between 1998 and 2001.
Fast Facts
- In a 2005 ABC News poll, 57% of Americans said they feared being victims of identity theft
- Identity theft actually declined between 2003 and 2006
- However, amount stolen through identity theft increased between 2003 and 2006
- Average amount of time spent by victims in resolving identity theft: 40 hours
- Sandra Bullock movie The Net dramatizes effect of identity theft
Forms of Identity Theft
Common forms of identity theft include the using of another's social security number to apply for jobs or other benefits; the use of personal information to open fraudulent lines of credit; or the providing of another's information in the course of an arrest.
Identity Theft Prevention
A large industry has arisen surrounding the prevention of identity theft. Consumers can subscribe to credit report monitoring services or place a freeze on their credit report so that no new lines of credit can be opened.
Related Mahalo Pages
How to Use LifeLock | Esther Reed | Credit Cards | Cirilo Centeno | How to Manage Your Passwords | How to Freeze Your Credit Report | How to Get on the Do Not Call List; | How to Get a Free Credit Report | How to Decide Whether to Freeze Your Credit Report | How to Recover from Identity Theft | How to Prevent Identity Theft | LifeLock | Wendy Brown
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