Identity Theft 101

Identity theft, that nasty crime in which someone obtains and uses your personal information to commit fraud or theft, is the fastest growing criminal activity in the U.S. And it could be coming soon to a bank account near you!

You’ve probably heard about the most common forms of identity theft—when a thief tracks down your credit card numbers, and then uses them to max out your accounts. That kind of theft—the stolen credit card variety—is fairly easy to notice and fix.

Things get more complicated, though, when a thief steals your SSN from records at your job and uses it to apply for a mortgage or car loan. Cases like this are hard to detect and often even harder to resolve.

The problem is that all the techno-marvels we take for granted often help to serve up our identities on a silver platter to clever, techno-savvy thieves. For example, it’s great to be able to shop online, but your electronic transaction may give a hacker access to your credit card number.

And while preapproved credit applications make it easier for you to get a card, they also make it a breeze for an imposter to get credit using your name. Your personal information is available in more places than you may even realize—and it presents thieves with the perfect opportunities to make some quick cash.