IDENTITY FRAUD
If your identity has been stolen, you may feel like your entire world has been turned upside down. You will probably have to spend hours — maybe even days — fixing all the issues and paperwork that come with having your identity stolen. Luckily, there are things you can do to protect yourself so this doesn’t happen to you!
To put it simply, identity theft is when someone pretends to be you in order to steal your personal information and use it for their own gain.identity theft happens when somebody utilises someone else's private recognizing data, similar to their name, distinguishing number, or Visa number, without their consent, to perpetrate misrepresentation or different wrongdoings.. Written below are some common types of identity theft and how you can protect yourself from each one of them.
There are a few important things that you should always be careful of sharing:
- Name
- Social Security Number
- Birth Date
- Address
- Passwords
- Credit Card Numbers
- Bank Accounts
How thieves obtain or steal your identity can happen in many different ways. In some cases, a stolen wallet is all it takes. With this, thieves usually have access to your ID, credit cards, bank cards, and more. A lost smartphone also provides criminals with a variety of personal information to use. Other methods include home burglary, computer hacking, and unsafe internet connections or online transactions. Protecting your personal information is the best way to protect yourself from identity theft.
IDENTITY FRAUD
Identity fraud is the act of stealing personal, private, or financial information, then identity fraud is the use of this stolen information. This crime affects both the individuals whose identity has been stolen and the businesses where the stolen identity has been used to make fraudulent transactions. Apart from this , the fake identity used doesn’t necessarily have to be that of someone living, or even real. Thieves often assume the identity of the deceased or create fake identities of people who never existed to commit a crime. Some examples of identity fraud include:
- Fake ID or passport
- False credit card accounts
- False bank accounts
- False loan applications
- Fraudulent withdrawals
- Fraudulent transactions
- Fake criminal record
Once it has occurred, identity fraud can have a lasting impact on your credit score. The accounts and charges that thieves fraudulently create may still appear on your credit report and be your responsibility until disputed. Checking your credit report regularly is a good way to protect yourself from identity fraud. Search for any accounts or debts that you do not recognize and contact the business or credit bureau immediately to inform them that your identity may have been compromised. The more vigilant you are, the more likely you will be able to protect yourself from identity fraud.
Understanding the difference between identity theft and fraud is crucial in protecting against and resolving the crime. Your credit score is important and needs to be protected. Although it may take work, keep your private information safe. Doing so may help prevent you from becoming a future victim of identity theft or fraud.