Identity Theft Facts

Knowledge is a powerful form of prevention. The more you know about identity theft, the more likely you will be able to prevent it from happening to you. Get those questions answered! We’ve put together some interesting facts on identity theft to help you protect your identity.

How Thieves Steal Your Identity

Identity thieves will seize your personal information any way they can. Your identifying information is as good as gold to them, so knowing how to avoid these traps can help you protect your identity. Some thieves will sift through your trash to find mail or other documents with your information on it. They could also simply steal your wallet, purse, or personal checks. With credit or debt cards, identity thieves use devices called “skimmers” that read your card numbers when you use your card. Change-of-address forms are another culprit—thieves spuriously change your address at the post office to reroute your mail to another location. When thieves “pretext,” they obtain your information from your creditors (phone companies, credit card companies, etc.) under false pretenses. Finally, thieves can also “phish” for your information by bombarding you with emails or pop-up ads soliciting your personal info.

The Types of Identity Theft

You can further protect your identity by being aware of the kinds of crimes that thieves can commit with your information. Here are the most common ones:

• Credit card fraud – Over a quarter of all identity theft involves fraudulent credit card use.
• Bank fraud – A little under 20% of identity theft cases involve some type of bank fraud, which usually means your accounts are somehow compromised or new accounts are opened in your name.
• Utilities/phone fraud – This accounts for about the same percentage of identity theft cases as bank fraud. In this subtype, thieves will either wrack up charges on your current phone or utilities account or open a new one with your information.
• Employment fraud – Here the thief is applying for employment under your name. This accounts for about 12% of identity theft.
• Government fraud – 9% of identity theft involves some government benefit or document fraud. This means the thief is applying for social security, driver’s licenses, or tax returns using your information.
• Loan fraud – This subtype accounts for about 5% of cases. Identity thieves apply for personal loans in your name.
• Other – Other kinds of identity theft might include filing for bankruptcy in your name, evading the law, stealing your medical identity, etc.