Identity theft occurs when someone uses your personally
identifying information, like your name, Social Security number, or
credit card number, without your permission, to commit fraud or other
crimes.
The FTC estimates that as many as 9 million Americans have their
identities stolen each year. In fact, you or someone you know may have
experienced some form of identity theft.
The crime takes many forms. Identity thieves may rent an apartment,
obtain a credit card, or establish a telephone account in your name. You
may not find out about the theft until you review your credit report or
a credit card statement and notice charges you didn’t make—or until
you’re contacted by a debt collector.
Identity theft is serious. While some identity theft victims can
resolve their problems quickly, others spend hundreds of dollars and
many days repairing damage to their good name and credit record. Some
consumers victimized by identity theft may lose out on job
opportunities, or be denied loans for education, housing or cars because
of negative information on their credit reports. In rare cases, they
may even be arrested for crimes they did not commit.
