What Is Identity Theft and Identity Theft Prevention

In 2008 identity theft has become more prevalent, with nearly 10 million American victims losing $48 billion in 2008, but the average loss is falling as consumers and businesses detect fraud faster. The number of victims rose 22% to a record 9.9 million in 2008 from 8.1 million a year earlier, with about one in 23 U.S. adults becoming victims, according to CNN Money.

What is identity theft? In short, identity theft is a crime. Identity theft and identity fraud are terms used to refer to all types of crime in which someone wrongfully obtains and uses another person’s personal data in some way that involves fraud or deception, typically for economic gain. Unlike your fingerprints, which are unique to you and cannot be given to someone else for their use, your personal data, academically called personally identifiable information, can be used, if they fall into the wrong hands, to personally profit at your expense. You can read the detailed article What Is Identity Theft and How to Detect Identity Theft. Identity thieves can use a variety of high/low tech means to gain access to your personal information. So You may want to know How Identity Theft Happens, How Identity Theft Works. You need to act now to protect yourself!