Identity theft. While it may be a relatively new form of crime, it’s catching on frighteningly fast. In fact the FBI calls identity theft one of the fastest growing crimes in the United States and estimates that 500,000 to 700,000 Americans become identity theft victims each year.

Identity Theft: What is it?

Identity theft is when someone uses your personal information to commit fraud or another crime, posing as you. Identity thefts typically use personal information such as your name, address, Social Security number, and credit card or bank account numbers to open bank accounts, obtain credit cards, get a passport, sign lease or financing agreements. The three most common forms of personal identity theft are:

• Financial ID Theft —Thieves use your name and Social Security Number to commit financial fraud such as applying for a credit card or opening a bank account.
• Criminal ID Theft — Thieves can also give your name and personal information when stopped by a police officer or when charged with a crime. If the thief uses your name, you will be served with a warrant for arrest for a crime you never committed.
• Identity Cloning —Thieves can use your personal information to establish a new life, posing as you. They pose as you and apply for a new job, rent an apartment, establish new cell phone service, etc. Often people in trouble with the law, illegal aliens, or people trying to escape abuse attempt this type of identity theft.