How Does A Thief Steal Your Identity?

Identity theft starts when your personal information, your name and Social Security number, credit card numbers, or other financial account information is obtained by someone with criminal intent. For identity thieves, this information is a goldmine.
Skilled identity thieves may use any number of methods to get hold of your information, including:

   1. Trash Scavenging. They go through trash looking for bills, solicitations or other paper with your personal information on it.
   2. Skimming. They steal credit or debit card numbers by using a special storage device when processing your card.
   3. Phishing. They pretend to be financial institutions or legitimate online companies and send email spam or pop-up messages to entice you to reveal your personal information.
   4. Change Of Address. They divert your billing statements to another location by completing a change of address form.
   5. "Good" Old-Fashioned Stealing. They steal wallets and purses; mail, including bank and credit card statements; pre-approved credit offers; and new checks or tax information. They steal personnel records, or bribe employees who have access.
   6. Pretexting.  They use false pretenses to obtain your personal information from financial institutions, telephone companies, and other sources. 

What Do Thieves Do With A Stolen Identity?

Once they have your personal information, identity thieves use it in a variety of ways including credit card, phone and utilities fraud, banking and finance fraud, the forging of government documents, and medical fraud.  They may open credit cards and banking accounts in your name, run up charges on existing accounts, obtain services such as phone and utilities in your name, obtain loans, get a driver's license or offical ID with your name and their picture and they may even get a job, rent a house or file for government benefits all using your personal informaiton and identity.

Identity Theft Warning Signs

Most identity theft victims find out about their misfortune by noticing discrepancies on their credit reports or catching sight of credit card charges they did not make. Monthly credit card and bank statements will show unauthorized charges or withdrawals. Unrecognized entries added to a credit report will definitely call attention to identity theft. As creditors submit claims, you may begin receiving phone calls from collection agencies. Once you have discovered that identity theft has taken place, it is highly suggested to close related accounts, receive new cards and account numbers, and create new passwords.

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