The phrase identity theft generally means what it sounds like. It is the theft of a person's identity by another for some profitable purpose. That being said, identity theft actually comes in a number of different forms.



Mention identity theft and most people think of stolen credit cards. This occurs, but is actually the end result of the theft. Credit card accounts are not the target of most criminals, social security numbers are.

The social security number is the golden egg of identity theft. Why? It can be used to do just about anything financially such as open multiple credit accounts, take loans and so on. Without it, it is practically impossible to do anything.

If you social security number is stolen, you may be shocked to learn where it turns up. Given the attitude towards illegal immigrants these days, many are trying to procure such numbers and identity theives are now selling them to them.

The sale of social security numbers to people who need them to hold a job causes another massive problem for the victim. Taxes. The IRS receives a report of all earnings per social security number. If you under report, you will be contacted.

Another area where your social security number can be misused is at the bank. The thief will open a bank account using the number. The thief then writes bad checks against the account until the bank closes it.

Finally, identity thieves need to chat by phone frequently, but why should they pay for this when you will? Yes, they use your information to buy cell phones and open new accounts with the mobile providers.

When it comes to criminal endeavors, identity theft is unique. Why? Well, theives use false addresses for the accounts they open. As a result, you have no idea you are a victim. It could be happening now and you wouldn't know!

So, how do most people discover they have been hit? They start getting calls from credit bureaus or collection companies. Alternatively, they find all their credit cards shut off and their bank account frozen.

Identity theft is one of the more aggravating crimes out there. If it happens to you, expect to spend months trying to get the mess worked out. Businesses and the government are getting better at dealing with it, but it is still a nightmare.