Protection Against Identity Theft

Identity theft is a crime that can easily ruin one’s life and cause extreme suffering and loss. Criminals have been using other people’s identity since the beginning of time to commit crimes, achieve financial gain, and for many other illegal purposes. Since the rise in the popularity of the Internet, identity theft has also been on the rise. “Approximately 15 million United States residents have their identities used fraudulently each year with financial losses totaling upwards of $50 billion.” (Douglas, 2012) By securing someone else’s personally identifiable information (PII), a criminal with enough knowledge about the Internet could illegally gain access to medical records, bank accounts, and many other aspects of the unknowing victim’s life. This is why protecting one’s personally identifiable information is paramount in avoiding identity theft. There are many methods criminals can use to acquire PII but there are many ways one can protect their information as well. It is easier to protect PII by practicing several simple habits rather than forfeiting time, effort, and potentially large sums of money after one’s identity has been compromised. The United States Department of Justice suggests several easy tips to help avoid becoming a victim of identity theft. Individuals should be stingy about releasing their PII to anyone they do not know or trust. (Identity Theft And Identity Fraud, 2014) It is common to receive phone calls or emails that are offering the sale of a product, donations, or credit card offers. Many of these calls or emails are legitimate and there is no danger involved, but it is important to remain vigilant when placed in these situations. Criminals who are phishing will often use techniques to secure an individual’s PII while posing as a legitimate organization. Many times the victims in these situations are completely unaware their information has been compromised until it is too late. Maintaining awareness of financial information on a regular basis is another easy way to protect against identity theft. (Identity Theft And Identity Fraud, 2014) By staying on top of all transactions, investments, and all financial activity, an individual will be aware if something out of the ordinary is happening. Reviewing bank account and credit card statements is one of the simplest and quickest way to identify if something is not right. There are many times these statements are thrown out after only a quick glance which could have potentially saved that individual from being a victim of identity theft. If a criminal has obtained an individual’s bank account information and is only taking out very small amounts over a long period of time it will be extremely difficult to catch this action if the statements are not reviewed regularly. If erroneous activity is recognized soon enough it will be easier for financial institutions to rectify and will be less impactful on the victim. Individuals should also review their credit report on a regular basis. There is a possibility that a criminal who has accessed an individual’s PII has opened numerous accounts using that victim’s information. Reviewing a credit report very well might be the only way to discover these criminal actions. Often times in these situations individuals are unaware of numerous accounts being opened in their name and by the time they find out the damage far exceeds what it would have been with a little diligence on their part. With so many individuals and businesses being vulnerable to attacks from identity thieves there has been a massive increase in the products and services offered by identity protection companies. Companies such as LifeLock offer services to safeguard your information, finances, credit, and other valuable information from criminals seeking to commit identity theft. (Protecting Your Identity, 2014) These services provide individuals with identity protection but most of all with a peace of mind their information is protected. Even with all the advances in technology and awareness of the need to protect one’s identity, the criminals committing these offenses have many techniques and schemes to acquire information. Criminals use phishing, spoofing, pharming, and many other advanced techniques to gain access to unassuming, innocent victim’s information. It is important to use multiple resources that are available in protecting one’s identity. Although an individual might be using the products and services of a company such as LifeLock, they should remain vigilant and continue to use good habits as well. In conclusion, identity theft is a very disruptive and potentially dangerous crime that is committed against many people each and every day. The tricks and techniques used by these criminals are sometimes intricately planned and carried out. Once an individual’s personally identifiable information falls into the wrong hands it can spell great disaster if not recognized and rectified promptly. Numerous accounts could be opened using the stolen information to include credit card accounts, checking and savings accounts, real estate purchases, and home mortgages just to name a few. This could very easily ruin a victim’s life and require them to spend their time, effort, and potentially a large amount of money to regain their credit standing and good name. (Douglas, 2012) There are several simple habits one can use to protect themselves as well as the products and services of companies such as LifeLock. Most importantly, it is every individual’s responsibility to maintain a vigilant stance when it comes to deterring identity thieves and protecting their own information.
References

Douglas, R. (2012). Identity Theft Victim Statistics. Retrieved from www.identitytheft.info.
Identity Theft And Identity Fraud. (2014). Retrieved from www.justice.gov.
Protecting Your Identity. (2014). Retrieved from www.lifelock.com.

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[ 1 ]. Personally Identifiable Information (PII) – information that can be used on its own or with other information to identify, contact, or locate a single person. Example: Social Security Number, Date of Birth, and Name.
[ 2 ]. Phishing – Using trusted institutional names to elicit PII
[ 3 ]. Spoofing – Forgery of an email sender’s name that leads you to believe it is from a trusted source
[ 4 ]. Pharming – The act of placing malicious software on a victim’s computer that redirects them to a phony website