Defend Your Identity: Define Identity Theft

By: Paulwilcox
Many people have prized possessions that they own. These can be a simple homemade gift from their child, a family heirloom that has been passed from generation to generation, photographs that tell a story, or expensive jewelry.

In addition, those possessions can have monetary or sentimental value. Some of those items that have sentimental value can include photographs or heirlooms that have been passed down within the family.

The down side of owning things of value is that they may be susceptible to theft. Sometimes theft can be broadly defined as items lost to a fire, flood, earthquake, etc. In addition, there is an element in society made up of individuals who steal from others and can rob law abiding individuals of their prized possessions.

Some people go to great lengths to protect their personal information against those who perpetrate identity theft crimes, while others may not even know the definition of identity theft. It is import to understand what identity theft is so that all innocent people in society can protect themselves.

What is Identity Theft?

Identity theft is defined as an action or actions taken by another for the purpose of misrepresenting themselves as that individual in order to commit fraudulent acts. Those fraudulent acts can include the illegal accessing of a persons financial accounts, creating new credit card accounts, obtaining a loan in that persons name or even assuming another persons identity to get out of being charged with a certain crime.

Identity theft negatively impacts victims in several ways. A victim can experience financial loss, a negative credit history, or even create a criminal record history for an individual who previously had none.

In addition, if not addressed quickly, an identity theft victim will have to deal with damage perpetuated on their good name. Often this damage is reflected in credit ratings, possible criminal activity, employment interviews, etc. Although the victim is innocent, often it takes months or even years for the devastating effects of the identity theft to be cleared.
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