Identity theft is away of stealing a person’s identity whereby; a person pretends to be somebody else by assuming his or her identity(Schneier, 2012). It is a way of obtaining credit card or getting resources using that person’s name. The identity theft victim can suffer consequences if the perpetrator’s actions get held against them. Identity theft usually occurs when someone’s personally identifying information such as the credit card number;another person uses identifying number or name without being permitted to commit fraud.
The short-term effects of identity theft are the initial losses that a person needs to bear once he or she has become an identity fraud victim(Hoofnagle, Chris Jay, 2007). He or she may witness additional banking fees, cancelled credit cards, denial of loans, bank account balances which are empty, paying high insurance rates together with other monetary losses which might or might not be recovered.
The trauma of ID fraud and emotional stress are the most devastating long-term effects of identity theft. After going through identity theft, most people are forced to seek counselling. Others end up becoming excessively paranoid when it comes to protection of their personal and private data.
In some cases, all parties involved can be held accountable when identity theft occurs. For instance, in cases where both parties get closely related. In cases where both parties have used a stolen credit card repeatedly.
Theft identity is everywhere, and the worst thing about it is that it is quite easy to face it. The level of vulnerability is quite high. Restaurants are the most vulnerable places of theft identity. It is common for the staff to process credit cards away from the customers, and this is giving up the credit card for several minutes to complete strangers. Shoulder surfing while waiting in queues is another method where thieves get your personal information. It is where people look over someone’s shoulders and end up reading their personal information. It is a technique used in checkout lines at movie theaters, groceries, etc.
Scammers steal people’s identity is by going through themail. They easily take out payday loans once they get hold of your social security number. Scammers also use phone calls by giving you bogus stories about your bank account being opened by someone else and you end up confirming that you are the real account, owner.
Scammers look forward to stealing sensitive data from your electronic devices. It includes the iPad, laptop, iPhone. People are advised to protect all their electronic devices by using passwords.
There are several protective measures that can get appliedso as to avoid cases of theft identity. Stuff monitoring is crucial here. You should ensure that you monitor your bank accounts, mail, credit and credit card statements. Most criminals are difficult to catch and therefore, it’s important to review your reports, and credit card statements regularly. Contact the appropriate company when you notice certain things out of the ordinary.
Having some protection from theft identities such as Trusted ID and Life Lock is a way of catching these criminals faster. Early action and notification are a way to avoiding damage to your history and credit.