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Identity Fraud Essay

630 Words3 Pages

Identity theft is the fraudulent acquisition and use of a person's private identifying information, usually for financial gain. This common concern for “everyday” people, was not note or even heard about in during the 1960’s; however in recent years, identify theft has become highly noted topic of consumer finances. According to the Javelin Strategy & Research, in a 2015 Identity Fraud study, found that $16 billion was stolen from 12.7 million U.S. consumers in 2014, compared with $18 billion and 13.1 million victims a year earlier. There was a new identity fraud victim every two seconds in 2014. Thefts like these ruin the financial consumer by putting them at risk for bankruptcy, having a bad credit score, and legal and befit losses. In order …show more content…

Tear up or shred – credit cards statements, solicitations, and other documents that contain private financial information. Secure your mail. Empty you mailbox quickly, lock it or get a P.O. box so criminals don’t have a chance to snatch credit card pitches. Never mail outgoing bill payments and checks from home. They can be stolen from a mailbox and the payee’s name can be erased with solvents. To ensure the outgoing mail arrives to its detestation, mail it from the post office or another secure location.
In addition, one should safeguard Social Security number. Never carry a social security card, or any other card that may have your number, like a health insurance card. Never write the social security number on checks or any other document, unless indicated. Social Security is primary target for identity thieves because it gives them access to credit reports and bank accounts, allowing them to open up more accounts, thus affecting the person.
Likewise, do not leave a paper trail. Never leave ATM, credit card or gas station receipts behind. Always take receipts, once in a secure location; safely discard any unwanted receipts using a shredder. Adding that, never let credit card out of sight. Always keep track of credit cards or, when that’s not possible, pay with

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