Identity theft is a term used to describe a fraudulent activityin which your vital personal, business, or financial data includingsocial security card, credit cards, bank statements, and onlineaccount details is misused or stolen by someone for their personalgrowth. A person who becomes a victim of identity theft may have toface many serious consequences, from huge debts and employment lossto jail arrests.Who is more prone to identity theft?Anyone could be a target for identity theft. In other words,anybody could be a victim of identity theft irrespective of age,sex, and income levels.What are the different types of identitytheft?Different types of identity theft involve:Credit Card Identity TheftSocial Security Card Identity TheftDriver’s License Identity TheftMedical Identity TheftCriminal Identity TheftOnline Identity TheftWhen do you come to know about identitytheft?In most cases, you may not be aware that you have become a preyof identity theft initially, and you may come to know only whencredit card companies, creditors, or collection agencies informthat you have not cleared your debts. Sometimes, you may come toknow only when you check you bank or financial statements to findtransfers or withdrawals that you have not made.Why should you be worried and careful about identitytheft?Since it involves the stealing of most important information, itmay badly affect your good credit. This is because thievesprimarily use your information such as credit card and socialsecurity card number to withdraw more cash, thereby leaving debt onyour name. Further, the victim of identity theft may also lose hisjob. Sometimes, thieves utilize your personal information to availof auto loans in your name or set up an internet or phoneconnection in your name. There are also instances in which you maybe charged with a criminal offence due to identity theft.Tips to reduce or prevent identity theftEven though it is difficult to prevent identity theftcompletely, you may reduce the chances of identity theft. Here aresome tips to reduce the risk of identity theft:Be careful always when you carry your important personal orbusiness information, especially when you are in busy airport andmetro station, noisy restaurant, bustling city street, or whilecrossing the roadSecure your critical personal and business information in asafe placeEqually important is to secure your online information viainstalling the latest softwareWhat are the different ways through which your identitycould be lost?Your identity could be stolen in a number of ways, from stealingrecords from your office, bribing an employee who keep track onyour records and hacking your company’s computers to skimmingand stolen wallets and purses. According to the studies reveled bycredit card companies, about 50% of identity theft occurring in thenation is obtained via stolen wallets.Is there any high tech option to overcome identitytheft?iWallet – the high tech cash and credit card walletlaunched by Iwallet Corp – has been regarded as an answer toovercome identity theft. With its hard case construction andbiometric fingerprint scanner, one could open this wallet only ifit recognizes your finger print. An added advantage is that it alsoprotects your mobile phone, as it could be paired with the selectedPDA cellular phones via the Bluetooth Technology.iWallet Corp introduces the new technology hard case walletnamed iWallet. This wallet uses bluetooth technologyas well as biometric fingerprint reader to prevent identitytheft. Find more details online
