How it Happens

A third party can obtain your personal information in many ways. One common method is digging through your trash for bills, bank statements or checks.

How People Use Stolen Identities

Once a person has acquired a sufficient amount of your personal information, he uses this new identity to commit several different crimes. He may withdraw money in your name, apply for a license or ID, evade taxes or open a credit card in your name.

What to Do if Your Identity is Stolen

Notify the police immediately. This will protect you from suffering the consequences of crimes that someone else is committing in your name and will also prevent the perpetrator from continuing to use your identity to commit more crimes.

The Consequences

People found guilty of identity theft face a maximum of 15 years in prison.

What You Can Do to Protect Yourself

Be very vigilant about your personal information. Invest in a paper shredder for destroying important documents and bills before you throw them away. Check your bank statements and credit reports religiously. Be wary of people who may try to scam you for your personal information, especially those who pose as employees of your bank. Remember, your bank already has all your personal information. If you take all the necessary precautions to protect your information, you are at a much lower risk to become a victim of identity theft.

Source:

About Identity Theft

Resource:

Identity Theft and Fraud