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What You Need To Know - 5
Types Of Identity Theft
Many people do not realize that there are different types of
identity theft. There are indeed several ways in which the
identity thief can take advantage of your personal
information, while leaving you to deal with the
repercussions. Here's what you need to know about the 5
types of identity theft.
The type of identity theft you are probably most familiar
with is Financial Identity Theft. It is when the thief uses
your information to set up financial accounts in your name
without your permission or knowledge. The thief may obtain
credit cards, loans, merchandise, homes, vehicles, vacations
and more, all in your name. Financial identity theft can
definitely cost you thousands of dollars in debt, not to
mention the painstaking process of clearing your name and
credit. |
Another type of identity theft is Medical Identity Theft
wherein the thief uses your information to obtain health and
other medical benefits and services. Being a victim of
medical identity theft can result to fraudulent billing and
having erroneous medical files. Your ability to get a health
and life insurance may also be affected. Imagine the
nightmare of having an actual medical emergency and having
your insurance company refusing to cover the bills as
records show you've already had the procedure done or you've
depleted your insurance coverage.
An identity thief can not only leave you with tons of debt,
but leave you with a criminal record as well. With Criminal
Identity Theft, the thieves use your information to obtain
employment, to commit or distance themselves from crimes, or
provide your information when questioned by law enforcement.
Repercussions can range from undeserved tickets to
outstanding arrest warrants and even temporary imprisonment.
Victims can also be fired from their jobs due to an
"undisclosed conviction".
These identity thieves are out there to victimized innocent
people particularly seniors. They feel that seniors are easy
targets because of their financial status and their lack of
awareness of the matter.
Identity theft can not only be devastating to individuals
but to businesses as well especially in cases wherein the
business' credit and the owner's credit are one in the same.
With Commercial Identity Theft wherein criminals get credit
by charging it to another business' name, business
operations may be severely affected due to a loan being
denied or called early or if interest rates on key credit
accounts are increased due to a universal default cause. |
Truly, an awareness of these different types of identity
theft is helpful in protecting ourselves from becoming a
victim of the crime. Given that identity theft has now
become more common, it's definitely wise to know what we are
up against in order to take the appropriate preventive
measures.
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About The Author:
Written By Bernard Pragides
Author and internet entrepreneur Bernard
Pragides offers expert advice and tips
regarding identity theft. Learn more
about identity theft and fraud by
visiting his identity theft blog and his
website
http://www.IdentityProtek.com
for more helpful information.
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