Introduction: What is identity theft?
Identity theft happens when someone uses your legal name, credit card number, social security number, passwords or pins of your financial accounts, to make purchases, get cash or commit fraud in your name. It is when your personal and financial information gets into the wrong hands and turns your financial life into a living nightmare. It is critical to understand how identity theft happens to avoid becoming a victim and to have a plan ready in order to defend yourself if your identity is stolen.
According to the Federal Trade Commission (FTC), 11,000,000 Americans become victims of identity theft each year. CBSnews.com reported that every 2.8 seconds a thief steals someone's identity, opens accounts in the victim's name and goes on a buying spree. 8% of all identity theft cases impact individuals under the age of 19, while senior citizens are also heavily targeted. In other words, no one is totally immune to identity theft, and self-protection is the best defense.
For successful protection from identity theft, you can follow five steps listed below. Let's get started!
Chapter 1. How will I know if my identity is compromised?
Chapter 2. How can I protect my identity from theft?
Chapter 3. How do I protect myself from identity theft when I travel?
Chapter 4. How do I protect my family and children from identity theft?
Chapter 5. What should I do if my identity was compromised?