2 Kinds Of Identity Theft And What You Can Do To Prevent It

Identity theft is no laughing matter and when it happens it can really put you in a bind

. The best way to prevent identity theft is to know how to prevent it in the first place. But for some people, this is just too late because it happens without people even knowing about it. And if you think that financial identity theft is the only kind of theft that happens, then you are wrong.

The simple fact of the matter is that there are a few different methods identity theft. The first one if financial. This is where people try to open up credit in your name and take over your bank account and that sort. The next kind of identity theft is when someone tries to take your name and apply for jobs under it. Believe it or not, this happens all the time. The first kind of identity theft more formally is called "account takeover". This is when a thief takes your credit card information and tries to buy things under your name.

You usually don't know that you're information has been tampered with until it's too late. You may go the grocery store and try to purchase something with your card, only to find that your card has been declined for some odd reason. Then when you check your credit card bill, you find that your card has been maxed out. This happens all the time believe it or not. This is the most common form of identity theft, and is a growing crime today.

The second formal form of identity theft is something called "application fraud". This is when a thief uses some different combinations of your information to do damage to your credit file. They can use your date of birth, your name, address, driver's license number, and even your social security number. This is why you have to be careful when lending out your information to others.

The fact of matter is that identity theft happens everyday. Why people want to do the crime of identity theft is beyond me, but it's something that you should take note of so that you can protect yourself. When it comes to preventing these forms of identity theft, you have two options at your disposal.

1) Fraud alerts

2) Security freezes

Fraud alerts tell you when you're being active with your credit information. This is when the credit bureaus send you indications that you've opened up new credit. It also checks for any activity that's going on with your credit file. This is a great way to stay on top of your credit, but you should know that it doesn't protect you fully from the crime of identity theft.

Security freezes lock down your credit file and keeps your information safe from thieves. Whenever a thief tries to open up credit in your name, he gets greeted by a message that says your credit file has a lock on it. This is the best way to protect yourself when thinking about identity theft.

The only time consuming thing about security freezes is when you temporarily lift them. To make your information available for applying for new credit, you will have to lift your security freeze temporarily. Depending on what state you live in, there may be a fee associated with lifting your freeze. But generally there isn't usually a cost associated with lifting it. You can do it online for immediate access to your credit file.

Knowing how to prevent identity theft begins with knowing what to do if it happens to you. Hopefully you will take the advice in this article seriously and you will protect your good name.

Good luck with protecting your identity.

2 Kinds Of Identity Theft And What You Can Do To Prevent It

By: Adrian Hargray

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