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What makes identity theft the epidemic it has become? The fact that half of all victims know the person that committed the theft according to the Better Business Bureau's 2005 Fraud Survey.

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The result was that some 30, with initial losses pegged at $2.7 million, but rising well beyond that.⁷⁶ The Key Moment Of course, identity theft is profitable because the thief is able to get credit in someone else's name. That's where the credit report comes into play. The key moment occurs when the credit reporting agency (CRA) discloses the innocent victim's credit report in response to a thief's fraudulent application for credit. The credit report "validates" the thief and starts him on his "credit joyride." As we will explore in greater detail in a later chapter, the CRAs' rather loose algorithms have benefited identity thieves by allowing for disclosure of victims' credit reports even when the imposters' applications are filled with discrepancies.

Bad Consolidation Credit Debt 1. Resentment

Stop identity theft All is not lost, You can still uncover identity theft if you're willing to monitor your financial records regularly. Your credit reports can show unauthorized activity made in your name; so can your bank and credit card statements, depending on how the identity thief targets you. There are also programs available that can alert you to changes in your credit report, and some credit card issuers make an attempt to contact their customers if they detect unusual buying patterns or other signs of abnormal card usage.

Bad Company Credit Repair I worked for a company that reports handled lost stolen credit card reports. I don't know how many times someone called and said their ex or soon to be ex spouse stole all of their financial information and went on a vengeance spending spree.

Once thieves steal your social security number, they are able to use your identity and your good credit. This is the most serious form of identity theft, called identity assumption. With your social security number, a thief can now set up bogus bank, credit card, cell phone accounts or even commit crimes in your name. Then, by redirecting the billing information for these new accounts to his address, not yours, the thief delays you for up to nine months from knowing that fraudulent charges are being made in your name. Hiding address changes from you is crucial to the identity thief's success. Finding these address changes and alerting you is our job. Allowing us to protect you and your identity.

Bad Card Credit Credit Of course it's not limited to former husbands and wives but anger is a powerful emotion. The obvious familiarity, total access to private information combined with the desire to do as much damage as possible makes this the most devastating form of id theft financially and emotionally.

In important ways, the CRAs algorithms have helped identity thieves. In " name fraud, " the key moment occurs when the CRA discloses the innocent victim's credit report to a subscriber holding the identity thief's application for credit. This disclosure enables the fraudster to obtain credit in the name of the innocent victim. Identity thieves often enter mistaken data when they fraudulently apply for credit. But if they have obtained the victim's SSN, it will help override other discrepancies in the application and convince the CRA algorithm to disclose the victim's credit report. Even if there are mistakes in the SSN, the "partial match" tolerance within the algorithm still gives the fraudster a chance of triggering release of the credit report.

Bad Car Credit Loan No matter what the relationship, always keep a close eye on your credit and other financial information. .

occurs when an identity thief acquires a person's existing credit or bank account information and either withdraws money or makes purchases. Victims usually learn of account takeover when they receive their monthly credit card or bank account statement. In true identity theft, an identity thief uses another person's Social Security number and other identifying information to fraudulently open new accounts for financial gain. Victims may be unaware of the fraud for an extended period of time, which can allow the criminal to continue the ruse for months or even years.

Bad Credit Loan Mortgage 2. The Snoop.

Auto Bad Credit Loan The people that ask you too many questions of a very personal nature. Its easy to not think anything of it.The person may be a relative, neighbor or close friend but ask yourself (and them) exactly why do they need to know your date of birth or social. You may even catch them snooping thru your personal information.

Bad Credit Mortgage Refinance Now it could all be perfectly innocent but with id theft the number one crime for the fifth year in a row, do you really want to take that chance?

Bad Credit Refinance 3.Addiction

Bad Credit Mortgage Second "I don't have any drug addicts in my family." Good deal but substance abusers are not the only people who will steal from you. Alcoholics, people addicted to porn, even compulsive shoppers are potential identity thieves.

Bad Credit Loan Student Gambling and pornography on the internet are billion dollar industries. According to Jim Vaules, an identity theft expert for Lexis Nexis, "You see a lot of internet gambling and pornography sites being charged to stolen cards. [Identity Thieves] might use the card of a family member or friend"

Bad Card Credit Any kind of obsessive behaviour can throw a person's normally rational judgement out the window because the only thing that counts is satisfying the habit NOW!

Bad Credit Financing Addiction also means more than likely the identity thief can and will justify their actions. Even if you catch them red handed, its very possible they'll say its not their fault, put the blame on you or just shrug their shoulders and say "so what?"

Bad Credit Home Loan Mortgage What do you do in instances like this? Filing a police report may not be a bad idea.

Bad Credit Loan People Author Liz Pullman Weston of MSN Money says "A little tough love may be the only way to stop a miscreant from becoming a career criminal"

Bad Card Credit Credit People Even if the addict apologizes profusely and vows never to do it again (quite common) the odds are high they will do it again unless they get some counseling. Filing a police report no matter how reluctant you are could be a step in that direction.

Bad Credit Guaranteed Loan There are of course other symptoms. Somebody living above their means or mail that looks like its been tampered with. Identity theft requires constant vigilance with credit monitoring, storing private information in secure places, shredding documents etc.

Bad Credit Refinancing If identity theft happens to you, the best thing besides recovering your identity will be your peace of mind in realizing it wasn't anyone you know.

Bad Credit Equity Home Loan Daryl Campbell is a writer and owner of Campbell Marketing L.L.C. What's the best way to fight id theft and fraud? Free information. Get featured articles from experts as well as tips,resources and up to the minute news at http://fightidtheft.winthemarket.com

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