In addition, those possessions can have monetary or sentimental value. Some of those items that have sentimental value can include photographs or heirlooms that have been passed down within the family.

Of course, the problem with owning something is that it could be stolen. Or it could even be lost due to something like fire, flood, or some other natural cause. And naturally, there are plenty of thieves out there who would steal your possessions if given the chance.

One of the most critical things that can be stolen from you is something you can’t actually hold in your hand. It’s your identity. Identity theft has become a very serious problem and in order to prevent it, you need to understand it.

Just What Is Identity Theft, Anyway?

In order to be aware of identity theft, provide protection and prosecute those who steal another’s identity, it is important to define identity theft. Identity theft is that action or actions taken by another for the purpose of misrepresenting themselves as that individual in order to commit fraudulent acts. Those fraudulent acts can include the illegal accessing of that person’s financial accounts or committing acts of crime. Those acts of crime could include creating new credit cards accounts, obtaining a loan, etc.

Also, to properly define identity theft, it is critical to define the negative impact experienced by the individual whose identity has been stolen. One of the negative repercussions of identity theft is financial loss. Often an identity theft crime will affect a person’s bottom line as thieves access credit cards, bank accounts, etc.

Plus, if it isn’t stopped quickly, this damage can have a serious impact on your good name. Credit reports, employment history, criminal records, etc. are all potential problems. Even though you are innocent, the problems are on your record. It can take years to clear your name.

How Identity Theft Works

Identity theft often occurs when critical, personal pieces of information are somehow obtained by an identity thief.

This can include identification numbers, such as your social insurance number and driver’s license number – things that only their owner should know. Other potentially dangerous pieces of information are your passwords, account PINs, date of birth or even your mother’s maiden name.

These numbers can be obtained fraudulently by thieves who pose as representatives of service or financial companies in order to obtain these highly sensitive numbers. It is important for the reader to understand that under no circumstances should they give out these sensitive numbers to individuals who ask for them.

Most legitimate companies will only ask for this information if you have initiated the call. They don’t call you and ask for it. They may also only ask for the last few digits, rather than the entire number.

Also, identity thieves may look through trash or steal a person’s purse or wallet. It is therefore very important to shred all unwanted mail that contains sensitive information as well as never carrying your social security card with you.

Credits – http://www.onlinesecuritytoolkit.com

Many people think of identity theft and they automatically think of using their credit card on the Internet, or using Internet-based banking services. In actuality, studies show that as much as 70% of all identity theft cases result from an “inside job”. That means that an employee or co-worker of a business where you shop could be an identity thief. Additionally, often, what results in such cases is that the perpetrator is not even an employee – it is the business owner who is the identity thief.

Yet another startling revelation is that in more than 25% of cases where identity theft is reported, the victims knew the identity thief or were even related to them. The number one rule in protecting yourself against identity theft is to be very careful with whom you share your information. These various types of identity theft and tips to prevent it from happening may help you to protect yourself.

* Social Security Card

Don’t carry your Social Security card in your wallet. If your driver’s license, insurance card or any other card uses your Social Security number as a member number or identification number, request a different number.

* Phishing Emails

We have all received the “phishing” scam emails and some seem very realistic. Don’t fall for it. If you receive an email that appears to be from your bank, stores you patronize, government agencies or even personal people who want to “help” you or who have a “job offer,” forward the email with full headers to reportphishing@antiphishing.org. EmailAbuse.org also offers a variety of tips on how to protect yourself.

* Your Trash

Identity thieves will gleefully to through your garbage for credit card offers, “convenience checks” and other pieces of mail that could reveal your personal information. Any documents that have personal information on them should be shredded before they ever make it to your trash can.

* Phone Calls

A fairly recent identity theft scam involves the scammer calling credit card holders, pretending to be the credit card company. They get all of your personal information and, bam! They have stolen your identity. If you receive such a call, get the person’s full name and phone number, then hang up and call the credit card company back using the customer service phone number that is printed on the back of your card to verify that the call was legitimate.

* Your Computer

Shopping online is quite safe – as long as you know how to protect yourself. Before you enter your credit card number, Social Security number or any other personal information, review the privacy policy, looking for ways that you can opt out of providing personal information. If there is not privacy policy posted on the site, you should shop somewhere else. If you do enter personal information, only do so on secure web pages. You can easily identify a secure web page because it will have “https” in the address bar and there will be a padlock symbol at the bottom of your browser window. Secure pages encrypt or scramble your information to protect it from hackers.

* Your Bills and Bank Statements

As soon as you receive your credit card bill and bank statements each month, open them and look over them very carefully. If you see any unauthorized charges or withdrawals, report them right away. Also, if your bills do not arrive on time, call to check because it could mean that someone has changed your information to hide charges that are fraudulent.

The identity theft commercials on TV may be amusing, but if you find yourself as a victim of identity theft, I can guarantee it will be no laughing matter. Take the time to ensure you are protected now and implement those safeguards.