Essay On Identity Theft

Hide and Seek: The Examination and Prevention of Identity Theft

In simple terms, identity theft is the intentional use of someone else’s identity. Using another person’s identity is normally used as a method to gain financial advantage, or to obtain credit or other benefits in the other person's name. This occurs when a credible identity is created for one’s self by illegally accessing credit cards, financial records, computer systems or other personal identifying information. Unfortunately, utilization of a false identity is at the other person's disadvantage usually causing a loss. In the modern world, there are many ways this identifying information can be stolen; however, there are steps that can be taken to prevent such things from happening.

Identity theft is not widely discussed in the public eye. If blind to it, it may not seem very prevalent. However, identity theft is a common occurrence. According to an Identity Fraud Survey report in 2011, approximately “8.1 million adults in the United States were victims of identity fraud” (Britz 115). This would amount to about 37 billion dollars of stolen money, credit or other kinds of benefits. This is not surprising seeing that there are many ways to obtain personal information. Not only are there physical methods,

Many victims do not realize their identity is being compromised until it is too late. By the time they realize what has happened, the amount of damage done can be extensive. Having your identity stolen can damage your credit score, and cost you time as well as money to restore your good name (“Identity Theft”). In extreme cases bankruptcy may be the only answer to get a clean slate in order to rebuild. Experiencing some kind of financial consequence may be a major clue that your identity has been stolen. These consequences can include mystery bills, credit collections, and denied loans (“Identity Theft”).