Identity Theft - The Cybercrime of the 21st Century

Identity thieves can be people you know or they can be cybercriminals. People who know you can steal your mail, send your mail to another address, rummage through your trash or steal your wallet or purse. Your personal information can be taken from records at your job, at your doctor's office, at voter registration places, and insurance companies. Cybercriminals commit cybercrime by hacking into your computer, sending you fake emails to get you to give them your personal information, and by infecting attachments.

Identity Thieves are looking for credit card numbers, bank accounts, driver's licenses, dates of birth, social security numbers, and medical data. They run up charges on your credit cards, take out loans, establish phone services, and open up new bank accounts all in your name. They write bad checks, drain your retirement account, and file for bankruptcy in your name. They apply for medical and social security benefits in your name, get a driver's license with your name and their picture, get a job and file taxes in your name, and give your name to the police when they are arrested.

A good example of someone who has had their identity stolen is Ben Bernanke, the head of the Federal Reserve, the main bank in America. According to Newsweek, his wife's purse was stolen in August 2008 with all her personal information. Someone soon began cashing checks on the Bernanke family bank accounts. It turned out that they were one of 500 whose identities were stolen by a crime ring. It took a year for law enforcement to solve the case.

If you become a victim of identity theft, it is a living nightmare. You can end up with a wrongful criminal record, spend up to 500 hours over two years, and it will cost $3,000 or more to restore your identity, and it can happen again.

You ask, "How can I protect myself from being a victim of identity theft and cybercrime?" Shredding your personal information or requesting free credit reports is not enough. Monitoring your credit does not keep you safe. Credit fraud alerts do not work. Up to 50% of the time the creditor does not check the thief's credit and just issues him credit. You also don't need to lock your life away.

While you can't completely prevent identity theft, you can protect yourself against its harmful effects. There is a new form of protection, Identity Risk Protection for Your Whole Identity.
When you subscribe to a Comprehensive Identity Protection Service, your credit, medical information, social security number, insurance records, and driver's license are monitored daily. Should your identity be stolen, experts work together with law enforcement to help restore it to pre-theft status.