Identity theft is a growing problem globally, and is one of the most common forms of fraud. It involves the unauthorized use of someone’s personal information for nefarious purposes. It can be as simple as providing false details in a loan application, to extracting someone’s entire personal data from their computers.

To commit identity theft, all the perpetrator needs is a name, Social Security Number, date of birth, address, phone number and other personal information related to banking and financial accounts. With this information, the perpetrator can gain access to bank accounts, credit cards and loans, open new credit cards and lines of credit, apply for benefits in someone else’s name, and even purchase goods and services while avoiding detection.

The most alarming aspect of identity theft is that often the victims are unaware until it is too late. It can take months, if not years, for them to realize that their information was stolen and that fraudulent activity was being conducted in their name. The victim then faces the big task of trying to piece their life back together and restoring their good credit rating.

Fortunately, steps can be taken to protect yourself from identity theft. One common form of protection is to sign-up for fraud alert services, which monitor your credit and notify you of suspected identity theft activities. In addition, you can protect yourself by periodically checking and monitoring your credit report, being aware of phishing scams, and only making purchases from secure websites.

Overall, identity theft is a serious crime that impacts millions of people worldwide. It is important to not become complacent about our personal information and always stay vigilant when engaging in online activities or using public Wi-Fi. To protect yourself, it is best to take preventative measures such as signing up for fraud alert services, monitoring your credit and report on a regular basis, and being aware of online scams.