Top Five Myths About Identity Fraud

The good news is identity theft over the past few years has decreased

. But the fact of the matter is it still tops the list as the number one consumer complaint.

There is plenty of information going around when it comes to this criminal offense including a number of misconceptions which can easily have you going in the wrong way.

1. Safeguarding The SSN Is All You Have To Do

You see this on the news quite a bit. A lot of professionals may say this is all you have to do when it comes to guarding your identity. Regrettably that's not true. The fact of the matter is identity thieves can steal your personal information in a number of different ways without the need to swipe your social security number. Among them is skimming your credit card without your knowledge, going through your garbage or just old fashion mail thievery.

2. It Is Up To You To Pay Any And All Fraudulent Charges Racked Up

Don't allow any company to pressure you into this if you have been victimized. It is not your responsibility to pay any fraudulent charges thieves have put on your account. However businesses and debt collection agencies don't care about that. They want the money and they want it now. That's fine as long as you keep in mind that you are not the one who has to pay it.

3. It Won't Happen To You

Name the crime and chances are that everybody at one time or another has said that. Identity theft spares no one. While it may be on the decline eight million people last year still had their identities stolen. Considering that the number usually hover around ten million as well as the alarming number of ways thieves can pilfer your information and there is little doubt identity theft can happen to you.

4. Most Identity Thieves Get Caught

Since law enforcements and financial institutions have been more aggressive in dealing with identity theft you figure the arrest rate would be pretty good. Think again. According to studies done by the Gartner Group roughly 1 out of 700 people ever gets caught. Yes you may hear how authorities have cracked a major ring. While this is true the overwhelming majority of thefts go unreported let alone anyone getting apprehended.

5. Most Identity Thieves Are People You Have Never Met

Not true and this in many ways is what makes identity theft the epidemic that it is. Most thieves are someone the victim knows. It can be a co worker, a neighbor who comes to your house or steals your mail, a long time friend or a member of your family. This should also give you a good indication as to why most identity thieves do not get arrested. As bad as the crime is many victims cannot even begin to bring themselves to have one of their relatives thrown in jail regardless of what they did.

by: D. A. Campbell

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