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What Is Identity Theft?

What is identity theft?

Identity theft is a serious crime that can have a lasting impact on your life. It happens when someone gets your personal information, like your credit card number, Social Security number, or name, and utilizes it to commit various crimes or fraud.

Identity theft can happen in a variety of ways. Someone might steal your wallet or purse containing your driver’s license, Social Security card, or credit cards. They may rummage through your trash looking for bills or other documents with your personal information on them. They can also use sophisticated techniques to hack into computers and databases to get your information.

Once they have your personal information, identity thieves can open new accounts in your name and run up charges on existing accounts. They may also get a job or file for unemployment using your Social Security number. This can impact your credit score and make it difficult to get loans, insurance, a job, or a house.

Identity theft is a serious crime with lasting consequences. If you’ve been subjected to identity theft, it’s important to act quickly to minimize the damage by reporting the crime to the police and the Federal Trade Commission. You should also contact your bank, credit card companies, and other financial institutions, and keep a close eye on your credit report for any unauthorized activity.

Identity theft is a serious issue, but there are steps you can take to protect yourself. You should never carry your Social Security card in your wallet or purse. You should shred documents with your personal information on them before you throw them away. And you should never give out your personal information to someone you don’t know.

If you are a business owner and would like to avoid identity theft, you should consider storing all your customer information in a secure client portal. If you already have a solution for managing interaction with your customers, but have many security sensitive documents and files, consider a Virtual Data Room or VDR. Learn about VDR

Find out how a Client Portal  can protect your data

By taking these precautions, you can help protect yourself from identity theft.

Types of Identity Theft

Identity theft affects millions of people every year. There are many different types of identity theft, and it can be difficult to know which one you may be a victim of. Here are some of the most common types of identity theft:

  • Financial Identity Theft: This occurs when someone steals your information to make unauthorized charges or to open new accounts in your name. This can damage your credit score and leave you with unwanted debt.
  • Social Security Identity Theft: This is when someone uses your social security number to apply for government benefits or to get a job.
  • Medical Identity Theft: This is when someone uses your personal information, such as your insurance policy number, to obtain medical care or to make false claims in your name.
  • Synthetic Identity Theft: This type of identity theft occurs when someone creates a new identity using fake information, such as a made-up social security number or a fake birth certificate. This can be used to obtain credit, loans, and other benefits in your name.
  • Child Identity Theft: This occurs when someone uses your child’s personal information to apply for credit cards, loans, government benefits, or jobs. This can damage your child’s credit score and cause problems for them in the future.
  • Tax Identity Theft: This is when someone uses your personal information, such as your social security number, to file a false tax return in your name.
  • Criminal Identity Theft: This type of identity theft occurs when someone uses your personal information, such as your driver’s license number, to commit a crime. This can leave you with a criminal record.

Would you like to see how Clinked can help you protect your and your customers' identity data? Book a meeting for an informal chat and a personalised demonstration.

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Bakhyt Weeks

Bakhyt is a seasoned business growth professional, international marketing consultant and entrepreneur. She is currently Head of Growth at Clinked and a founder of EngineeringClicks.com. Throughout her career she’s been an owner of multiple digital businesses in e-publishing, e-commerce, brand licensing and affiliate marketing. Bakhyt’s main interests lie in business growth, data, performance analytics and SEO.

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