A Few Misconceptions Concerning Identity Fraud

Identity theft has been on the wane for the last couple of years. 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 with regards to this criminal offense as well as plenty of misconceptions which can easily have you going in the wrong way.

1. Protecting Your Social Security Identification Number Is All That's Required

This is on the local and national news quite a lot. 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 reality is your identity can easily be stolen in a variety of ways without thieves even bothering your social security card. Among them is shoulder surfing, skimming, and going through your trash commonly known as dumpster diving.

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

Don't allow any business to force you into paying anything if you were the victim of identity theft. It is not your responsibility to pay any fraudulent charges thieves have put on your account. You will discover debt collectors do not care about that. They want the money and they want it now. No problem. As long as you remember you aren't the one doing the payback.

3. It Will Not Happen To Me

Famous last words. No doubt at one time or another many people who were victimized said the exact same thing. Identity theft does not play favorites. While statistics show the number of victims going down the fact of the matter is over 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. The majority of People That Steal Your Identity Get Caught

Because the police and banks have done a better job when it comes to dealing with identity theft you may think the number of people getting caught is fairly high. Not likely. According to studies done by the Gartner Group roughly 1 out of 700 people ever gets caught. No doubt you have seen news reports of law enforcement officials cracking a major fraud ring. While this is true the overwhelming majority of thefts go unreported let alone anyone getting apprehended.

5. Most Identity Theft Criminals Are Strangers To The Victim

False. And this is what makes identity theft a major problem. In many instances the victim knows exactly who the person is that stole their identity. 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. Which should give you a pretty good hint as to why many identity thieves never get thrown in jail. As bad as it is along with the damage done many people that have been victimized refuse to take the next step of preferring charges against their friends and/or loved ones.