By Sherman Wills
Now that we are past the holidays, many of us are expecting to "return to Earth" for the next 11 months or so. However, many of us will receive a small reminder of the fun we just had via our credit card bills. Right now we're all thinking that we didn't go overboard or spend excessively, so any charges should be manageable. Imagine your surprise when you get the bill and discover a balance that is far beyond anything you ever spent. After inspecting for a few minutes, you realize that there are a lot of big-ticket items that you never purchased. Like a bolt out of the blue it hits you: someone stole your identity!
Identity theft occurs when someone uses the personal identifying information of another person in order to commit a crime - usually a fraud of some sort. It has been hailed in the media as the fastest-growing crime in the country, with an estimated 60,000 people becoming victims every month. Small wonder, then, that scenarios like that above will probably become truth in fact for many people over the next month.
Identity theft activity tends to pick up over the course of the holiday season. Although it may be a reflection of thieves having their own shopping to do, it is probably more indicative of the fact that this is a time of year when we are not only utilizing our check books and charge cards more, but we are also distracted by the non-stop activity taking place around us. Simply put, identity thieves may not have to put in the same level of effort as they would at other times in order to get their hands on your information.
Criminals who get your personal information will often open lines of credit in your name. This is one of the easiest ways for them to take advantage of your good name, because in most instances the victim will not discover the theft for a while. Basically, the thief is using a line of credit that the victim doesn't even know exists and is unlikely to discover until it's too late. It's no wonder then that credit card fraud is the most common form of identity theft.
In retrospect, it might not be wrong to label identity theft as a national epidemic. It is a devastating crime for its victims; moreover, it can be extremely hard to detect if you aren't looking for it. Keeping that in mind, it would probably behoove the average consumer to be as proactive as possible (for instance, regularly reviewing credit reports) in order to avoid becoming a victim.
Identity theft occurs when someone uses the personal identifying information of another person in order to commit a crime - usually a fraud of some sort. It has been hailed in the media as the fastest-growing crime in the country, with an estimated 60,000 people becoming victims every month. Small wonder, then, that scenarios like that above will probably become truth in fact for many people over the next month.
Identity theft activity tends to pick up over the course of the holiday season. Although it may be a reflection of thieves having their own shopping to do, it is probably more indicative of the fact that this is a time of year when we are not only utilizing our check books and charge cards more, but we are also distracted by the non-stop activity taking place around us. Simply put, identity thieves may not have to put in the same level of effort as they would at other times in order to get their hands on your information.
Criminals who get your personal information will often open lines of credit in your name. This is one of the easiest ways for them to take advantage of your good name, because in most instances the victim will not discover the theft for a while. Basically, the thief is using a line of credit that the victim doesn't even know exists and is unlikely to discover until it's too late. It's no wonder then that credit card fraud is the most common form of identity theft.
In retrospect, it might not be wrong to label identity theft as a national epidemic. It is a devastating crime for its victims; moreover, it can be extremely hard to detect if you aren't looking for it. Keeping that in mind, it would probably behoove the average consumer to be as proactive as possible (for instance, regularly reviewing credit reports) in order to avoid becoming a victim.
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