Knowing the Enemy: Types of Identity Theft

After a week of going on vacation with your family, you could suddenly come home to a credit card bill filled with expenses made in your name that you were never even aware of. This could possibly be a common case of one of the types of identity theft.

As a general definition, identity theft would involve the unwarranted use of the key personal information of another individual or organization for the benefit of another; however there are many types of identity theft.

To be able to chart out a proper course of action for the prevention or management of this sort of problem, people should be first made aware of the types of identity theft which are in existence.

One type of identity theft is called Financial Identity Theft. This type is probably the most prevalent and would usually involve an individual’s Social Security Number (SSN) or other personal information which can be used to obtain services and loans, as well as purchase products. Most of the time, the victims of this sort of crime would just become aware of the situation when their credit card bill or other forms of notification arrive.

On the other hand, another individual may not only make use of another person’s information but also end up assuming that other person’s identity. This is called Identity Cloning. People who are migrating illegally into the country or those who need to escape from a troublesome past may resort to this form of identity theft.

Criminal Identity Theft occurs when the perpetrator of a crime or felony would furnish the personal information of another individual instead of his or her own. This would result to the hapless victim being notified to appear in court for a crime he or she had never committed.

Those who are behind Business or Commercial Identity Theft would set up accounts in the name of another company or organization. They would then charge several expenses into these accounts “in the name of the business”.

To prevent becoming a victim of these types of identity theft, individuals must be wary when providing information especially over the Internet. Aside from this, the disposal of documents containing personal information must be accomplished meticulously so that the information would not be acquired by other individuals.

Also, victims of these types of identity theft may consider applying for identity theft insurance and immediately reporting the incident to concerned organizations.