Identity Theft Christian Farrell

As of 2014 a case of identity fraud occurs nearly every two seconds in the United States. The number of identity fraud victims in 2013 was 13.1 million people. With the increase of our use of computer mediated communication and our increasing presence online comes an increase in potential danger. Identity theft is the act of stealing ones information, identity fraud however, is using that stolen information. Due to our increase in use of the internet and social media, a plethora of our personal information can be available to almost anyone. The most common source of fraud is through data breach, or commonly referred to as hacking. Last year one in three people who were victims of identity fraud was through data breaching. Criminals are also becoming more adept and efficient and stealing personal information for identity fraud. About 46% of consumers whose card information was accessed through a data breach became victims of identity fraud. Criminals also have other ways of committing identity fraud through using PayPal or eBay accounts and other online accounts. This type of identity fraud has nearly tripled just since last year. There are many different kinds of identity fraud; financial, criminal, identity cloning, synthetic, and medical. Financial is the most common due to it having the most benefits for criminals. However, it should be noted that criminals may not just be stealing your identity to buy expensive goods and services. The most common victim of identity theft is the college student. So this information is even more pertinent to us, due to the fact that we make up the largest pool of victims.

               The question remains: What do I do if I am a victim of identity fraud? The good news is that we’re getting much better at catching and preventing fraud once it occurs. Just in one year the amount of money stolen from consumers via fraud decreased $3 billion, even though the amount of victims of identity fraud went up significantly. This can be contributed to the more aggressive actions taken by law enforcement and financial institutions to prevent and solve identity fraud. Also, it helps that people are becoming more aware of the threat of identity fraud, and are actively taking steps to keep from being a victim of identity fraud. There are many steps that can be taken to prevent identity fraud. Users should create strong passwords and lock electronic devices like computers and cell phones, so as no intruder can easily access information. Also, changing passwords frequently and using different passwords can keep criminals from figuring out your passwords. It is also helpful to monitor your banks accounts and credit card statements regularly to assure that no one is making any outlandish purchases using your hard earned money. Other recommendations include; shredding personal documents, installing security software on your computer and phone, and avoid public Wi-Fi connections. If you think anything suspicious is occurring, it is best to contact your financial institution immediately. This will increase the likelihood of getting your money back. All these steps can help prevent identity fraud.

               http://money.cnn.com/2014/02/06/pf/identity-fraud/