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Identity theft is growing, and with the increasing potential for serious consequences, business executives need to have this threat on their radar screens. Bear in mind that a single person rarely perpetrates identity theft. Our research shows that about 60 percent of identity thieves operate in rings. A single person may steal the information, but the data is then distributed to others. What’s more, identity theft is seldom a single incident. The theft itself is the first crime, but the fraudulent use of the identity may take place again and again before the crime is discovered. Here’s another reason to pay more attention to identity theft.

If you assume that identity theft won’t make your customers think twice about doing business with you, consider this: One of the first questions victims ask when they contact us is whether they should change banks or credit-card companies or retailers. (We tell them no.) As the number of consumers who do business electronically continues to grow, we hear more people say that they no longer shop or bank online because they’re afraid of having their identity stolen. What to Do !! Forget about the notion that there’s nothing you can do about identity theft. By taking a few practical steps, you can go a long way toward circumventing this pernicious crime.

Two key reasons for the burgeoning rate of identity theft are ignorance and apathy. We hear about high-tech tricks such as phishing and low-tech approaches such as dumpster diving and assume that most identity theft occurs one consumer at a time. But our research shows that up to 70 percent of identity theft occurs within companies. What’s more, we’re engaging in business practices that vastly increase the risk of insiders stealing identities. As we conduct a greater portion of our business electronically and outsource potentially millions of jobs to other countries, we become increasingly vulnerable to misuse of sensitive information. The solution is twofold.

It’s not enough to invest in the appropriate level of IT security. It takes a combination of technology and procedures to prevent identity theft by dishonest employees or vendors—the most likely perpetrators. Even when the crime is committed by outside hackers, it’s usually in collaboration with insiders. Therefore, identity protection needs to become part of your budgeting process and integral to how you do business. That’s because identity theft is a crime whose impact can be felt far into your organization’s future.

Identity theft is becoming a big problem in the United States. A woman from Chicago applied for a job last year at a local department store, and was denied. Why? The reason is she already worked there, or rather, her Social Security Number already worked there. An investigation later revealed that her Social Security Number was used in 37 other places by immigrants trying to satisfy government requirements to get a job. It’s a frightening thing that USA doesn’t have a law that would require the Social Security Administration to notify American citizens when it is detected that other people are using their Social Security Number. Just during 2002, 9 million people paid taxes with mismatched names and Social Security Numbers and between 50 and 80 percent are illegal aliens using a stolen or manufactured Social Security number. That means millions of Americans had their cards used by illegal aliens.

People need to wake up to this problem because they are destroying people’s credit, Social Security benefits, and everything else. None of the agencies involved are trying to tackle the problem because they all benefit from it, as does corporate America. The IRS and Social Security collect extra taxes, lenders sell more loans and employers get inexpensive workers. Fixing the problem and telling all the victimized consumers would upset the delicate apple cart that is America’s immigration policy. The government is forcing people to share identities because they want to provide cheap labor to corporate America.

Often the imposter manages to use the victims Social Security Number for years before it is discovered. He/she can obtain dozens of credit cards, buy a car and even a house using the stolen number and his own name. All the while, that imposter pays taxes, pays into Social Security, and takes out loans using the stolen Social Security Number and although the agencies have a record of the abused Social Security Number none of them bother to tell the victim.

Most of you have heard about Identity theft and some of have even
experienced it.  What exactly is Identity theft and how does it happen?  How
does Identity theft occur and is there any way we can protect
ourselves from identity theft?

Identity theft is a serious crime that can happen to anybody.  Identity
theft is when someone steals your personal information such as you
Social Security number, or credit card number and in some extreme cases
your whole personality.  Furthermore, they would steal your personal
information and use it to commit fraud and many other crimes. There are
about 9 million American’s that are victim’s to identity fraud each year!

There are many different types of Identity theft. The most simply and
least serious would be if someone steal your credit card information.
This type of fraud is the most common and least serious.  Someone uses
your card without your permission.  Then there is a identity fraud when
someone steal your social security number, they would use your social
security to open bank account and take credit cards.  In extreme cases
they would purchase luxury items claiming that it was you buying them.
The most sever identity theft is when someone steal’s all your
information including your social security , your name, your credit cards and
just about everything else.  In this case someone else simply claims
that he is you.  They would use this information to open cards, buy items,
commit crimes, steal all your money from your accounts and just about
anything else you have.

So the question now is how does this happen?  There are many different
way that identity theft can occur. One way would be dumpster diving,
where someone else searches your trash to find your personal information.
Another way is called skimming, this is when you are paying or giving
someone (even larger companies) your credit card.  They take your
credit card and swipe it through a small storage device.  They then take
your information and use it to buy whatever they want.  Phishing is yet
another way criminals can steal your identity.  Phishing is when the
criminals introduce themselves as a bank or financial institution and ask
for you billing information.  This is usually done by email or phone,
the criminals do not expose themselves when doing this and they never
invite you to come to the bank or institution.   Finally you have the
stealing, this is self-explanatory someone walks by and steals your
wallet, purse, letter, mail or what every they can grab that may have your
personal information.

Now we need to talk about how we can protect ourselves from identity
theft.  We must and I repeat must shred all of mail that is going to the
garbage.  This is crucial because this type of identity theft is
becoming more and more popular.  Secondly, if you can pay with cash do so.
There are too many people that are just looking to steal your credit
card information.  This type of stealing is very hard to trace because
your card gets swiped in many places.  Finally if you think you are a
victim of identity theft don’t just ignore it call your bank and talk to
them.  Contac the police and tell them what happen!

Here are a few simple tips to help prevent identity theft.
1. Beware the Word “Prevent”

No person and no product can prevent identity theft. As long as
criminals can benefit from stealing, there will be theft. Sensitive
personal information (SPI) is everywhere, housed and archived in a
mind-boggling variety of ways. Individuals and companies can reduce
access to SPI and improve safeguards around it by working to change
how we share, collect, store and dispose of information.

2. There Are No Guarantees

This mantra holds true for a lot of things in life and dealing with
identity theft is no exception. While a number of instances of fraud
can be restored to pre-theft status, some identity dilemmas simply
can’t be fixed. If you’re on the ‘no fly list’ thanks to an imposter
or an error, you’ll stay there. A third-party solution cannot deliver
a remedy.

3. Watch for “Shoulder Surfers” and “Skimmers”

Shield the entry of personal identification numbers (PINs), and be
aware of people standing entirely too close by when using your credit
or debit card in public. Especially with the advent of cell phone
cameras, a sneaky, shoulder surfing thief can get your private
information pretty easily, if you’re not careful. It’s also advisable
to use teller machines that are familiar to you, so you are in a
better position to identify when the equipment looks different or
doesn’t “feel right.” Your increased awareness may reveal a skimmer’s
attempt to steal PINs and banking details at that site.

4. Keep Your Social Security Card Safe at Home

Unless you’re on your way to fill out a job application, there are
very few reasons to carry around the crown jewel of SPI. At lunch a
few weeks ago, the woman beside me opened her wallet for a credit card
and there was her Social Security card, too. Remember, ID theft and
fraud are not exclusively credit-related – thieves can use a clean
Social Security number to construct a whole new life.

Remember, when in doubt, throw it out!

Identity theft has become a huge problem in modern times. It has become easy, with the advent of new internet software, to learn more information about anyone than has ever been available before. This is problematic since so much relies on a persons’ credit history and identity. You cannot get a bank account, home, or car without first being subjected to a thorough credit check. Lenders want to make sure that you will actually pay them back. Checking your credit is how they determine that you are not a liability.

When you are a victim of identity theft, you lose the unique number that identifies you from everyone else in the world. With access to this number, usually your social security number, the perpetrator is able to open accounts in your name and then not pay them. This can scar your credit report for a long time. The worst part about identity theft is that you may never know that you have been victimized until you try to gain credit. By the time you know you are a victim, the person who was using your information, in most cases, is long gone. Modern criminals are smart and know how to avoid being tracked. The internet is their greatest ally, as most of these crimes are committed by people who know how to manipulate the net to cover their tracks.

It is hard to track down those who engage in identity theft. That is why it is best to make sure that your social security number, along with other important information, is always confidential and disposed of in the correct manner. Papers with this information on it should never be simply thrown out, they should always be shredded. Do not give personal information out if you do not absolutely have to. If you keep your information safe, you will never have to deal with the nightmare that is identity theft.

Identity theft has become a huge problem in modern times. It has become easy, with the advent of new internet software, to learn more information about anyone than has ever been available before. This is problematic since so much relies on a persons’ credit history and identity. You cannot get a bank account, home, or car without first being subjected to a thorough credit check. Lenders want to make sure that you will actually pay them back. Checking your credit is how they determine that you are not a liability.

When you are a victim of identity theft, you lose the unique number that identifies you from everyone else in the world. With access to this number, usually your social security number, the perpetrator is able to open accounts in your name and then not pay them. This can scar your credit report for a long time.

The worst part about identity theft is that you may never know that you have been victimized until you try to gain credit. By the time you know you are a victim, the person who was using your information, in most cases, is long gone. Modern criminals are smart and know how to avoid being tracked. The internet is their greatest ally, as most of these crimes are committed by people who know how to manipulate the net to cover their tracks.

It is hard to track down those who engage in identity theft. That is why it is best to make sure that your social security number, along with other important information, is always confidential and disposed of in the correct manner. Papers with this information on it should never be simply thrown out, they should always be shredded. Do not give personal information out if you do not absolutely have to. If you keep your information safe, you will never have to deal with the nightmare that is identity theft.

Identity theft has become a huge problem in modern times. It has become easy, with the advent of new internet software, to learn more information about anyone than has ever been available before. This is problematic since so much relies on a persons’ credit history and identity. You cannot get a bank account, home, or car without first being subjected to a thorough credit check. Lenders want to make sure that you will actually pay them back. Checking your credit is how they determine that you are not a liability.

When you are a victim of identity theft, you lose the unique number that identifies you from everyone else in the world. With access to this number, usually your social security number, the perpetrator is able to open accounts in your name and then not pay them. This can scar your credit report for a long time.

The worst part about identity theft is that you may never know that you have been victimized until you try to gain credit. By the time you know you are a victim, the person who was using your information, in most cases, is long gone. Modern criminals are smart and know how to avoid being tracked. The internet is their greatest ally, as most of these crimes are committed by people who know how to manipulate the net to cover their tracks.

It is hard to track down those who engage in identity theft. That is why it is best to make sure that your social security number, along with other important information, is always confidential and disposed of in the correct manner. Papers with this information on it should never be simply thrown out, they should always be shredded. Do not give personal information out if you do not absolutely have to. If you keep your information safe, you will never have to deal with the nightmare that is identity theft.