What is an identity Theft?
An identity thief pretends to be you to take over or open new accounts, file fake tax returns, rent or buy properties, or do other criminal things in your name (Identity Theft Protection – Avoid ID & Credit Fraud | LifeLock). There has been many issues with credit card identities being stolen. There are many things you should be aware of when you are making a purchase somewhere. Such as, gas stations, atm machines, restaurants and department stores (Identity Theft Resource Center).
How is this happening?
How are these identities being stolen? In some cases, these people look through the trash to find your discarded billing statements and use your information to buy things off of your credit card. If a bank website gets hacked, your credit card number can be stolen that way too. If you go to a restaurant, your waiter could take a picture of your card and use your account (Consumer Information). There are many other ways people can steal your credit card number.
How can you protect your credit card?
You should always be aware of your surroundings. When you no longer need your card, you should shred it before you throw it away (Consumer Information). Credit card owners should never let someone borrow your credit card, because you never know who you can trust. You should never write your account number on the outside on an envelope. Lastly, you should always keep your eye on your card (Consumer Information).
What should you do?
After someone stole your credit card identity, there are several critical steps you should follow.
- First, call your credit card company.
- Next, you should contact the credit bureaus.
- Then, you should file a report with the federal trade commission.
- Lastly, you should talk to your bank (About My Money).
Identity theft is often times discovered by credit card companies. Credit cards are stolen and multiple charges occur over a short period of time or large purchases are made and the credit card company declines charges until the cardholder contacts the credit card company (Identity Theft and Cybercrime). There are companies out there who specialize in protecting your identity, such as Lifelock. Lifelock offers three layers of protection: detects unauthorized use, alerts the owner and restores the customer’s account (Identity Theft Protection – Avoid ID & Credit Fraud | LifeLock).
In the past six years, identity theft has amounted to 112 billion dollars. Identity theft is a major problem that continues today (Identity Theft and Cybercrime). And thieves are constantly looking for new ways to continue this practice.
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“Consumer Information.” Protecting Against Credit Card Fraud. N.p., n.d. Web. 15 Sept. 2016.
@lifelock. “Identity Theft Protection – Avoid ID & Credit Fraud | LifeLock.”Identity Theft Protection From ID & Credit Fraud. N.p., n.d. Web. 15 Sept. 2016.
“About My Money.” 6 Things You Must Do After Hackers Steal Your Credit Card Data. N.p., n.d. Web. 15 Sept. 2016.
@lifelock. “Identity Theft Protection – Avoid ID & Credit Fraud | LifeLock.”Fraud Alert & Detection – Identity Theft Restoration. N.p., n.d. Web. 15 Sept. 2016.
State, 2014 By. “Identity Theft and Cybercrime.” III. N.p., n.d. Web. 15 Sept. 2016.