Identity theft is a blanket term used to cover any situation where your personal information is obtained and used fraudulently. However, there are numerous types of identity theft. You should be aware of the 9 most common forms of identity theft.
9 Types Of Identity Theft:
Social Security – Social security ID theft is extremely common because it also plays a part in many different types of fraud. When your social security number is obtained, there are many fraudulent activities that can occur. From creating a passport to applying for a job, the possibilities are almost endless. Keeping your social security number out of the wrong hands is imperative.
Tax – A thief can obtain your social security number and file a fraudulent tax return in order to retrieve the refund. When this occurs, it can also make it difficult to file your own, legitimate tax return.
Financial – One of the most potentially devastating forms of identity theft is financial theft. This is when someone obtains your banking or credit card information and uses it to make fraudulent purchases. One tip to avoid financial theft is to always use a credit card or your debit card as credit. When you make a charge with credit, you are afforded much more protection than with a debit transaction.
Criminal – Criminal identity theft involves an individual who is using a name other than their own. They are also possibly using a fraudulent ID with that name. This can cause someone else’s crimes to be shown on your record, until the issue is resolved.
Driver’s License – Driver’s license fraud is one of the easiest to commit as all a person needs is your driver’s license. If your license falls into the wrong hands, either by you losing it or it being stolen, it can be used in a variety of ways. From criminal fraud (as mentioned above) to using your identity to purchase items they’d normally be unable to, such as guns or alcohol.
Medical – Your medical information numbers can be used to obtain prescription drugs or to undergo a medical procedure. If this happens, these occurrences will show on your medical records which can have an affect on your future medical evaluations.
Insurance – Insurance and medical identity theft go hand-in-hand. Generally, your insurance information is obtained and then used to undergo medical care. This can result in your insurance premiums being raised as well as being on the hook for fraudulent medical bills.
Synthetic – Synthetic identity fraud involves using your information (such as your social security number) in addition to other fraudulent information to create fake identities. These identities can be used by criminals or illegal aliens to apply for jobs, loans or to open credit cards.
Child – Your child can also be a victim of of identity theft, which is a particularly terrifying thought. Usually, it is more difficult to detect fraud when it involves a child. It isn’t something that people generally think to keep an eye on. It is extremely important to have identity theft protection for your entire family, not just the adults.
These are the 9 most common forms of identity theft. As more and more threats to your financial, medical and criminal identity arise, it’s more and more important to protect yourself and monitor.