How Your Identity Can Be Stolen

It sounds like such a difficult thing, doesn't it? Stealing your identity? Unfortunately, it isn't that difficult at all. In fact, it's quite simple. The Federal Trade Commission estimates that 9 million Americans have their identities stolen each year. By seeking out identity theft Q&A, you're taking an important first step in protecting yourself. Partnering with an identity theft monitoring service is one of the best ways to keep your information safe and secure; but consumers also need to arm themselves with information. To fight identity theft, you need to understand how it works. Here are some of the ways that identity thieves take advantage of consumers across the country:

• Dumpster diving: It might sound gross, but your garbage can provide a wealth of personal information. Bank statements, solicitations and other information are thrown away all the time. Imagine what a thief could find out about you in your garbage. To fight this, make sure you shred anything with personal information on it, and if possible opt for electronic billing and payment. Don't let an identity thief get information that could assist them in opening a fraudulent account.
• Skimming: In this process, thieves gain access to your credit cards when they're processed electronically, whether you're making an online payment or one in a retail location such as a restaurant. You can fight this by carefully reading your statements each month. If something looks wrong, notify the credit card company immediately. Many identity thieves only charge small amounts on the cards they skim, which means consumers are less likely to notice.
• Phishing: Silly word, serious issue. In phishing, thieves try to trick consumers into giving up sensitive information. Chances are, you've been targeted for phishing. Have you ever received an e-mail from your bank, or credit card company, asking for your information? Maybe you need to provide your account number over e-mail? These are scams. Reputable banks and credit card companies won't e-mail you asking you for information, and they certainly won't ask you to divulge your Social Security number. Be suspicious of e-mails from these fake companies; they could do serious damage to your credit.
• Basic theft: It's worked for years, and will continue to work. An identity thief can get your information the old fashioned way, by stealing your purse or wallet. It's important to protect these items at the grocery store or even at your workplace. Don't think that your colleagues are as honest as you are. Never leave your purse or wallet in your desk drawer unattended. Ever.
• Moving you: Crafty identity thieves figured out easier ways to read their victims, mail without their knowledge, they processed change of address forms for their victims. If you don't receive a statement from your bank or credit card company, make sure your address on file is still accurate. This process has become more difficult for thieves over recent years, but it still can happen. If anything looks awry, find out why immediately. Call your banks and creditors and make sure there aren't other accounts at risk.